Axis Bank, DCB raises non-resident deposit rates

The bank now offers maximum of 10.25% interest on its NRE deposits

Private lenders Axis Bank and DCB Bank have increased interest rates on non-resident deposits.

 

Axis Bank has raised interest rates on non-resident external (NRE) fixed deposits for above three years by 50-75 basis points and foreign currency non-resident (FCNR-B) deposits of over three years by one%. DCB Bank has also hiked NRE fixed deposit rates. The bank now offers a maximum of 10.25% interest on its NRE deposits.