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Neckbreak competition and offers by new banks, to lure clients
April 14, 2017
With increasing competition in the banking sector, the deposit rates and loan interest rates have started to turn in favor of the users. Small finance banks and new banks have started offering savings rate as high as 7.25 percent, as opposed to universal bank rate which is 4 percent. This trend seems to lure enough and has caught eyes of ample customers, but the question of stability of these trends remain. While the teaser rates end, these new and small finance banks will have to continuously come up with new and fresh strategies to keep their consumer base intact.
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