Axis Bank, one of India’s leading private sector banks, has raised interest rates on term deposits to below ₹2 crores. According to the bank’s website, the new rates are effective as of today, November 5, 2022. Following the change, the bank increased interest rates on deposits with maturities ranging from 46 days to 10 years up to 115 basis points. Axis Bank now offers interest rates on deposits with maturities of 7 days to 10 years ranging from 3.50% to 6.50% for the general public and 3.50% to 7.25% for seniors. Deposits maturing between three and ten years will now have a maximum interest rate of 7.25% for seniors and 6.50% for the general public.
The State Bank of India (SBI), the largest bank by assets, has raised interest rates on savings bank accounts for its customers. According to the details, the bank will offer 3% interest on savings account balances of Rs 10 crore and above. Rates are in effect from October 15. The latest interest rate hike is […]
With inflation looming, Shaktikanta Das is getting its way on interest rates in 2022. But is it a good long-term move?
With India still in denial about its looming inflation problem in February, analysts at Nomura Holdings Inc. ranked the options available to the monetary authority into three categories. First, they claimed there was a 15% chance that the central bank was right to ignore supply-side pressures. But their base case, which they gave a 50% […]
Interest rates: Peter White urges borrowers to beware of hidden dangers associated with refinancing following RBA rate hike
Leading lending expert urges mortgage holders to beware of hidden dangers associated with refinancing as the big four banks seek to entice more customers with ‘cheap deals’ after this month’s rate hike- this. Peter White AM, chief executive of the Financial Brokers Association of Australia (FBAA), urges Australians considering switching mortgages to proceed with caution, […]