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Private sector bank hikes interest rates for the second time this week

Mumbai: Leading private sector bank in the country, Axis Bank has hiked its interest rates on bulk deposits of Rs 2 crore and above. The new rates are effective as of 26th September 2022. Axis Bank  is now offering an interest rate ranging from 3.75% to 6.90% for deposits of Rs 2 crore and  Rs 5 crore and 4.65% to 6.90% on fixed deposits maturing in Rs 50 crore to Rs 100 crore and above.

The bank will give an interest rate ranging from 3.75% to 6.90% on fixed deposits maturing in 7 days to 10 years on deposits of  Rs 2 crore to  Rs 50 crore. , On fixed deposits maturing in 1 year to 10 years, the bank will offer a maximum interest rate of 6.90%. On fixed deposits of  Rs 50 crore to Rs 100 crore and above the bank is offering an interest rate ranging from 4.65% to 6.90%. Deposits maturing in 1 year to 10 years will get  a maximum interest rate of 6.90%.

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Axis Bank has also revised its interest rates on Non-Resident External (NRE) Deposits of Rs 2 crore and above. The bank is offering an interest rate of 6.90% on fixed deposits of more than Rs 2 crore to Rs 100 crore. Whereas on deposits of Rs 100 crore and above maturing in 1 year to 3 years the bank is offering an interest rate of 6.90% and on deposits maturing in 3 years to less than 5 years, the bank is now offering a maximum interest rate of 7.30%.

 

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