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deepyyy999's review
Investment Sector: Emerging Markets Submitted by Deepyyy999 
, Student
6 months ago Add Tag |
HDFC Bank and Bank of Maharashtra raises deposit rates
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As I am saying for last two- three days, HDFC Bank has hiked its prime lending rate (PLR) by 0.75 per cent to 16 per cent. In addition, the bank has also increased its deposit rates by 0.5-1 per cent across various maturities. While the PLR hike is with immediate effect, the deposit rate hikes will take effect from July 3 onwards.
If my memory is right, this is the second hike in the bank's PLR in almost a fortnight. It had last hiked its PLR by 0.25 per cent around mid-June.
Bank of Maharashtra (BoM) has also increased the interest rates on its domestic term deposits by 0.25 per cent across select slabs with effect from today. The increase of 0.25 per cent is on deposits for periods varying from over 91 days to three years for deposit amounts up to Rs 15-lakh.Did you find this article useful?
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