Axis Bank reduces Interest rates for deposits!
Posted on: 20/Mar/2015 5:26:59 PM - No. of views : (1730)
Axis bank has reduced the interest rates for deposits.
Even the interest rates for Fixed Deposits for different durations have been reduced.
Axis Bank happens to be the first bank to reduce interest rates following the recent reduction of REPO %.
The interest rates for FDs for 18 to 36 months have been reduced by up to 0.25%.
Interest rates for FDs for 18 months have been reduced by 0.15%.
These rates are applicable to deposits under Rs. 1 Crore.
As the interest rate for deposit has been reduced, it is eagerly expected that the interest rates for loans also will be reduced!
HDFC bank has also reduced the interest rates for deposits by 0.25%.
