Latest News
-
Tohfa, Tohfa, Tohfa: Tata's NBFC To Power; 9 Tata Group Stocks To Pay Massive Dividends In Coming Weeks -
Penny Stock Below Rs 50 Announces Major Update On 6:11 Bonus Shares; Bet? -
Indian Rupee Hits Record Low Amid Middle East Concerns And Fed Rate Speculations -
Gold Rates In UAE: Huge Jump Of Nearly Rs 1,000 In 24-Carat Yellow Metal In Dubai; WHY? -
Nykaa’s Co-founder Adwaita Nayar Named Young Global Leader In WEF’s Class Of 2024 -
2:5 Bonus: Buy Auto Ancillaries Stock Amid Growing Buying Interest, TP Rs 140: Dividend Soon -
6000% Returns In 3 Years: This Multibagger Penny Metal Stock Soars 140% In 12 Months, Hits Record High -
ONGC Stocks Rises 4% On Amid Tensions In Middle East Oil Markets -
2:1 Bonus: Energy Stock Hits 5% Upper Circuit Ahead Of Dividend Recommendations For FY24, Up 509% From Lows -
Gold Price Chennai, April 15: Yellow Metal Prices Jump, Check 22K, 24K Cost
ICICI Bank and Axis Bank Raise Rates On Bulk Deposits
Following, public sector banks, rate on bulk deposits with ICICI and Axis bank has been revised upwards to fetch 6.6% and 6.75% respectively for different maturities.
After SBI and PNB hiked rates on their bulk deposits by 100 and 50 basis points to 5.25% and 5% respectively, private-sector lenders including ICICI and Axis bank on Wednesday have revised interest rate on bulk deposits over Rs. 1 crore higher. 1 basis point is one-hundredth of a percentage point.
On deposits over Rs. 1 crore and upto Rs. 100 crore and maturing between 365-389 days, ICICI bank raised interest by 10 bps to 6.6%. While for deposits over 100 crore and with maturity between 1 year and 389 days, the bank slashed rates from 6.75% to 6.6%.
Read more on India may now be at the end of rate cut cycle, here.
Axis bank on the other hand raised deposit rates on bulk deposits of more than Rs. 1 crore and with maturity between 4 months or more by 15-25 basis points. With revised rates, bulk deposits with a term of 12 and 18 months will now fetch 6.75% return in comparison to 6.6%. Deposits with longer maturity term will earn 6.25% interest per annum.
Goodreturns.in
