Axis Bank has reduced the interest for saving account by 0.50%. Axis Bank has fixed 3.5% as the interest rate savings account with a saving of up to Rs. 50 Lakhs.
Axis Bank has released the information that the interest rate for saving account balances of over Rs. 50 lakhs will continue at the rate of 4%.
This change in interest has come into effect from yesterday (Tuesday, 8th August),
In a similar trend, the State Bank of India and Bank of Baroda have already reduced the interest rates.