Axis Bank Increases Interest Rates on NRI Fixed Deposits

           Axis Bank Increases Interest Rates on NRI Fixed Deposits

  PR Newswire

  MUMBAI, India, August 23, 2013

MUMBAI, India, August 23, 2013 /PRNewswire/ --

Axis Bank, India's third largest private sector Bank, announced an increase in
the interest rates on Foreign Currency Non Resident (FCNR-B) deposits of
tenures over three years by 1 per cent, with effect from August 17, 2013. The
Bank has also announced an increase in interest rates on Non Resident External
(NRE) fixed deposits for tenures above three years by 50- 75 basis points,
with effect from August 24, 2013.

 (Logo: http://photos.prnewswire.com/prnh/20130823/637003 )

The FCNR-B fixed deposits between 3-4 years in US Dollar would now attract
4.78 per cent as compared to 3.78 per cent earlier; a 5 year fixed deposit in
US Dollar would earn 5.56 per cent against 4.56 per cent. Similarly, the rates
have been hiked by 1 per cent for fixed deposits in other currencies such as
GBP, Euro, Japanese Yen, Canadian Dollar and Australian Dollar.

For NRE fixed deposits between 3-5 years, the interest rate has been revised
to 9.50 per cent from 8.75 per cent and for tenures between 5-10 years the
interest rate has been revised to 9.25 per cent from 8.50 per cent. The Bank
is also offering a special rate of 9.50 per cent for NRE fixed deposits
between 7 years 4 months to 7 year 5 months.

About Axis Bank: Axis Bank is the third largest private sector bank in India.
Axis Bank offers the entire spectrum of services to customer segments covering
Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

With its 2,021 domestic branches (including extension counters) and 11,488
ATMs across the country, as on 30 ^th June 2013, the network of Axis Bank
spreads across 1,300 cities and towns, enabling the Bank to reach out to a
large cross-section of customers with an array of products and services. The
Bank also has overseas offices in UK, Singapore, Hong Kong, Shanghai, Colombo,
Dubai and Abu Dhabi.

The Bank's website http://www.axisbank.com offers comprehensive details about
its products and services.

Contact: For further information please contact: Axis Bank: Suresh
Warrier/Anand Mugad, +91-2224255601/+91-2224255614,
suresh.warrier@axisbank.com/anand.mugad@axisbank.com. Index PR: Tayyab
Imadi/Shreya Banda, +91-99672-12492/99300-07645,
tayyab@indexpr.in/shreya@indexpr.in