13
Wednesday
December 2017
5:18 AM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
Business News
Axis Bank cuts interest rate on savings bank account
 
(Mumbai, Aug 9,2017, PTI): Private sector lender Axis Bank today reduced interest rate on savings bank accounts by 50 basis points to 3.5 per cent for deposits up to Rs 50 lakh.

However, the bank will continue to pay 4 per cent interest on deposits of above Rs 50 lakh.

Axis Bank is the fourth lender to reduce the interest rate after market leader State Bank of India (SBI) begun the process of reducing interest rate on savings bank account.

"... the bank has revised the interest rate downward on Savings Account balance by 50 bps to 3.50 per cent per annum on balance of up to Rs 50 lakh," Axis Bank said in a regulatory filing.

The new interest rates will be effective from today, it added.

On July 31, SBI slashed interest rate on savings account deposits by 50 basis points to 3.5 per cent on balance of Rs 1 crore and below.

Axis Bank shares closed at Rs 499.30 apiece on BSE, down 1.32 per cent.

Another PSU lender Bank of Baroda had cut the rate to 3.5 per cent on deposits of up to Rs 50 lakh. Karnataka Bank too had tweaked the interest rate on savings bank accounts.


Stocks start with caution, macro data ahead
Govt in talks with Singapore for cruise connectivity: Gadkari
Sensex zooms 195 pts on strong global cues
Bitcoin drops after dramatic gains ahead of futures launch
Market takes a poll position, Sensex surges 301 pts
'Exports from Rajasthan to increase three-fold by 2022'
Ensure job creation with focus on rural unemployed: Mukherjee
China Development Bank Files Insolvency Plea Against Reliance Telecom
Sensex down 100 pts as RBI policy decision looms
Sensex ends lower ahead of RBI policy call
Sensex recovers 140 pts on positive GDP data
US dollar ends higher against rupee
Fiscal deficit crosses 96% of FY18 target at Oct-end
Gold slumps Rs 120 on lacklustre demand, global cues
Achieving 10pc growth rate is challenging: Jaitley
Sensex gains 68 pts in early trade on global cues
Bitcoin hits new record high of $9,687, up almost 20% since Friday
Reliance resumes JioPhone sale, starts round 2 of phone war
Sensex drops 107 pts as S&P keeps sovereign rating unchanged
No proposal to withdraw cheque book facility: FinMin
KERALA NEWS
Dead pigs brought for sale in Vaikom
 (Kottayam, Dec 12, 2017, DG): Locals seized dead pigs which were brought for sale from Tamil  
Cyclone Ockhi: 2 more dead bodies found
Committed no crime, want another investigation: Ameerul
Pope enquires about victims of Ockhi cyclone
INTERNATIONAL NEWS
NY attack: Trump says urgent need to fix 'lax' immigration
 (Washington, Dec 12, 2017): US President Donald Trump has asked Congress to end the "chain m
Putin, on visit, orders Russian forces to start pulling out of Syria
Netanyahu says he expects Europe to follow US on Jerusalem
Mallya's defence questions impartiality of Indian judicial
NATIONAL NEWS
Man arrested for trying to climb Buckingham Palace wall
 (London, Dec 12, 2017): London police said today they have arrested a man for allegedly tryin
Violence is not the way: Aamir on 'Padmavati'
Rahul slams PM Modi for attacking Manmohan Singh
Didn't instruct lawyer to use bad word agnst Jaitley: CM to HC
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.