Axis Bank cuts down interest rate on savings account to 3.50%
DSIJ Intelligence / 08 Aug 2017
Axis Bank has revised its interest rate downward on savings account balance by 50 basis points to 3.50% per annum on balance of up to Rs 50 lakh.
Axis Bank has revised its interest rate downward on savings account balance by 50 basis points to 3.50% per annum on balance of up to Rs 50 lakh.
In a BSE filing on Tuesday, Axis Bank said that the bank will continue to offer 4% interest per annum on savings account balance of Rs 50 lakh and above, said Axis Bank.
"The new interest rates will be effective from Tuesday, August 8, 2017," it also noted.
At Rs 499.30 per share, Axis Bank ended Tuesday’s trade down by Rs 6.70 or 1.32% on the BSE. The stock hit its intraday high and low of Rs 510.90 and Rs 496.25, respectively.
The stock attracted traded value of Rs 44,690.35 lakh and traded volume of 88,98,560 shares on the NSE.
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