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Re: BANKING OPERATIONS in AXIS BANK. - June 30th, 2015

Axis bank is launching new interest rates, interesting piece of information.

“The scheme ‘Fixed Deposit Plus’ is targeted at both Retail customers (Domestic & NRI) and corporate customers who seek safe avenues to invest surplus money at higher rates. The customers need to invest a minimum amount of Rs 15 lakh at a single instance to enjoy a 10 bps higher rate of interest on their investment,” Axis Bank said in a statement.

The differential rates on Fixed Deposit Plus with a lock in are currently available for a minimum period of 1 year and a maximum period of less than 2 years. No premature withdrawal will be allowed prior to maturity date, it said.

Rajiv Anand, Group Executive and Head Retail Banking said, “With the increasing number of customers seeking safer investment options, we are confident that the new ‘Fixed Deposit Plus’ scheme will offer higher earning potential, while continuing to promise guaranteed returns.

Fixed Deposit Plus is the first product launched by any private bank in the country after the recent RBI announcement that allow banks the discretion to offer differential interest rates based on whether the term deposits are with or without-premature-withdrawal-facility, Axis bank statement said.
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