Hike in the deposit rates of Dhanlaxmi Bank

Most of the leading banks have increased their lending as well as deposit rates after the hike of 50 basis points in the policy rates of the Reserve Bank of India, now it is Dhanlaxmi Bank that has increased its deposit rates across various maturity periods.

The bank has also introduced a new slab of 300 days that would attract an interest rate of 10.00%; also the lender is offering an extra interest rate of 0.50% to the senior citizens above the card rates but only on the maturity periods of 180 days and above (except on 300 days).

The revised deposit rates are applicable from 16^th August.

Hike in the deposit rates of Andhra Bank

As the lending rates are soaring so are the deposit rates, people are facing difficulties due to continuous hike in the loan interest rates but at the same time banks are attracting more and more people to invest with them through the term deposit schemes by offering irresistible deposit rates.

Andhra Bank has also done the same and has announced a hike in the fixed deposit rates across various maturity periods like for tenure of 46 to 90 days the deposit rate has been increased from 5% to 6%. The hike in deposit rates is made in the range of 0.25% to 1.00%.

The revised rates are applicable from 8^th August.