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Tag: axis bank

  • Credit card late payment: What HDFC Bank, SBI Card, ICICI Bank and Axis Bank cost

    ICICI Bank has revised its bank card expenses with impact from 10 February. As per the communication to the purchasers by the financial institution, credit score cardholders must pay a transaction cost on money advance which has been revised to 2.50% on superior quantities on all playing cards, topic to a minimal of ₹500. In case of cheque return, the financial institution will now cost 2% of the entire quantity due with a minimal of ₹500.

    The financial institution additionally revised late fee expenses for all its bank cards besides ICICI Bank Emerald Credit Card. Late fee expenses fluctuate with the entire quantity due. If your whole quantity due is lower than ₹100, then the financial institution is not going to cost you. While for greater quantities the fees preserve rising with a rise in due quantity. The highest quantity that the financial institution will cost is ₹1200 for an impressive quantity of ₹50,000 or extra.

    Other bigger gamers available in the market, like HDFC Bank, SBI Card and Axis Bank have been charging as much as ₹1300, ₹1300 and ₹1000 respectively for over ₹50,000 stability fee. 

    Here is the comparability of the bank card expenses of main gamers like HDFC Bank, SBI Card, ICICI Bank and Axis Bank

     

    View Full ImagePhoto: Mint

    As per the most recent RBI information for the month of November, the variety of bank cards has elevated by 1.84 per cent as in comparison with October 2021. The enhance was over 2 per cent in October ‘21 and 1.7 per cent in September ‘21. On the Credit card spending, there was a decline of 11.6 per cent month-on-month in November versus a acquire of 25.79 per cent MoM in October.

     

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  • Axis Mutual Fund to launch Nifty Next 50 Index Fund. Details right here

    Asset administration firm, Axis Mutual Fund, on Wednesday introduced the launch of an open-ended index fund monitoring the Nifty Next 50 Index. The new fund supply can be open for subscription on 7 January and shut on 21 January.

    The new scheme can be managed by Jinesh Gopani, head-equity, Axis Mutual Fund and the minimal utility quantity is ₹5,000 and traders can spend money on multiples of Re 1, thereafter. The fund will supply traders to take part within the progress story of corporations that come after the highest 50 (Nifty 50).

    Chandresh Nigam, managing director and chief govt officer, Axis AMC mentioned, “The Axis Nifty Next 50 Index Fund comes at a time when traders have understood the significance of passive methods to leverage the expansion of the following era of leaders, whereas guaranteeing market benchmark returns. We are assured that this fund can be a notable add-on that can yield long-term wealth creation alternatives for our traders.”

    The Nifty Next 50 index is designed to measure the efficiency of fifty corporations from the constituents of Nifty 100 Index after excluding the constituents of Nifty 50 Index (basically 51-100), unfold throughout 13 distinct industries.

    The prime 5 constituents of the Nifty Next 50 index are Apollo Hospitals Enterprise Ltd. (4.71%), Avenue Supermarts Ltd. (4.27%), Adani Enterprises Ltd. (3.76%), Info Edge (India) Ltd. (3.69%), and Vedanta Ltd. (3.62%).

    In phrases of sectoral allocation, the Nifty Next 50 is properly diversified with monetary companies having the most important weightage at 19.07%., adopted by client items (16.91%), metals (10.97%), client companies (10.25%), and pharma (7.91%).

    In comparability, the monetary companies sector has the best weightage in Nifty 50 at 36.94%.

    Further knowledge supplied by the fund home confirmed that since 2005, Nifty Next 50 has outperformed Nifty 50 and Nifty 100 collectively in eight calendar years.

    Based on the free-float market capitalisation, the Nifty Next 50 index is structured in a way to leverage the potential of the businesses that can type the following era of market leaders.

    As per the fund home, along with market-linked returns, the passive nature of the fund permits traders the advantage of diversification and high quality investments within the upcoming blue-chip corporations.

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  • HDFC Bank vs ICICI Bank vs Axis Bank vs SBI: Bank fastened deposit charges in contrast

    Bank fastened deposit (FD) charges are decided by modifications within the Reserve Bank of India (RBI) financial coverage resembling repo price, base price and so forth. Lenders like State Bank of India (SBI), ICICI Bank, HDFC Bank supply FD tenures starting from 7 days to 10 years. FD rates of interest of various banks fluctuate by deposit quantity, deposit tenure and kind of depositor.

    HDFC Bank newest FD rates of interest

    HDFC Bank provides curiosity starting from 2.50% to five.50% on deposits maturing between 7 days and 10 years. These charges are efficient from 1 December 2021. HDFC Bank provides rates of interest from 3% to six.25% on FDs maturing in 7 days to 10 years to senior residents.

    ICICI Bank newest FD charges 

    ICICI Bank offers rates of interest starting from 2.5% to five.50% on deposits maturing in 7 days to 10 years. These charges are relevant from 16 November 2021. Senior residents will proceed to get a 50 foundation factors (bps) increased rate of interest than others.

    Axis Bank newest FD charges

    Axis Bank provides FDs throughout completely different tenures, starting from 7 days to 10 years. With impact from November 10, 2021, personal sector lender Axis Bank has revised rates of interest on fastened deposits (FDs). Following the newest modification, Axis Bank now provides time period deposits maturing in 7 days to 10 years at a price of two.50 per cent to five.75 per cent.

    SBI newest FD rates of interest

    SBI FDs between 7 days to 10 years will give 2.9% to five.4% to normal clients. Senior residents will get 50 foundation factors (bps) further on these deposits. These charges are efficient from 8 January 2021.

     

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  • Axis Bank internet revenue rises 86%

    Axis Bank on Tuesday reported an over 86 per cent soar in its standalone internet revenue at Rs 3,133.32 crore within the second quarter ended September 2021.
    The financial institution had posted a internet revenue of Rs 1,682.67 crore throughout the identical interval of the earlier fiscal yr. Total standalone earnings throughout July-September 2021-22 rose to Rs 20,134.39 crore, from Rs 19,550 crore in the identical interval of 2020-21, Axis Bank mentioned.
    The financial institution confirmed enchancment on the asset high quality entrance, because the gross non-performing property (NPAs) or dangerous loans fell to three.53 per cent of the gross advances by the top of September this yr from 4.18 per cent in the identical interval a yr in the past.
    Net NPAs, nevertheless, rose to 1.08 per cent from 0.98 per cent.

    Bank’s provisions for dangerous loans and contingencies for the reported quarter fell considerably to Rs 1,735 crore from Rs 4,343 crore put apart within the year-ago interval.
    Meanwhile, Canara Bank reported over two-fold soar in its internet revenue at Rs 1,332.61 crore within the September quarter.
    — With PTI

  • FD calculator: These 3 non-public banks revised fastened deposit charges. Details right here

    FD calculator: Opening a set deposit (FD) account is among the varied funding choices to put aside funds for a wet day or for attaining monetary objectives for short-term. In September 2021, three non-public sector banks — Kotak Mahindra Bank, IDFC First Bank and Axis Bank haver revised their FD rates of interest. Fixed deposit accounts can be found in all PSU, non-public sector and small finance banks or SFBs however their FD rates of interest varies. So, it is necessary for an investor to know the brand new FD charges in these three banks.

    Here we record out new FD rate of interest particulars of the three non-public sector banks:

    1] IDFC First Bank: This non-public sector financial institution has revised its fastened deposit charges, whicih has now turn out to be relevant from fifteenth September 2021. In new IDFC First Bank FD rate of interest, a depositor will likely be given return on one’s cash from 2.5 per cent to five.25 per cent — relying upon the period of funding that ranges from 7 days to 10 years. As per the IDFC First Bank’s official web site — idfcfirstbank.com, FD rate of interest provided on deposits from 7 days to 14 days and 15 to 29 days is 2.50 per cent every year; for tenor 30 to 45 days and 46 to 90 days, FD rate of interest provided by IDFC First Bank is 2.75 per cent every year; for 91 to 180 days tenure, FD rate of interest provided is 3.25 per cent every year; for 181 days to lower than 1 12 months tenure, curiosity provided is 4.50 per cent.

    View Full PictureSource: IDFC Bank web site

    For 1 12 months to 2 years tenure, FD charge provided is 4.75 per cent; for two years 1 day to three years fastened deposits, rate of interest provided is 5.0 per cent; for 3 years 1 day to five years tenure, FD rate of interest provided is 5.20 per cent whereas for tax saver deposits starting from 5 years 1 day to 10 years, FD rate of interest provided by IDFC First Bank is 5.25 per cent.

    2] Kotak Mahindra Bank: New FD charges have turn out to be efficient on this non-public sector financial institution from eighth September 2021. In revised FD charges, Kotak Mahindra Bank FD rate of interest ranges from 2.50 per cent to five.25 per cent relying upon the tenure of funding. As per the official web site of Kotak Mahindra Bank — kotakbank.com, FD rate of interest provided on 7-14 days and 15-30 days tenor is 2.50 per cent; for 31-45 days and 46-90 days tenor, Kotak Mahindra Bank FD rate of interest presents 2.75 per cent annual rate of interest; for 91-120 days FD, rate of interest provided is 3.0 per cent; for 121-179 days, FD rate of interest at Kotak Mahindra Bank efficient from eighth September is 3.25 per cent; for 180 days FD and 181-269 days tenor, rate of interest is 4.25 per cent; for 270, 271 to 363 days and 364 days tenor.

    View Full PictureSource: Kotak Mahindra Bank web site

    FD rate of interest provided at Kotak Bank is 4.40 per cent; for 365 to 389 days FD, rate of interest provided is 4.50 per cent; for 390 days FD, rate of interest provided is 4.75 per cent every year; for 391 days to lower than 23 months, FD rate of interest is 4.75 per cent; for 23 months and 23 months 1 Day to lower than 2 years tenor, FD rate of interest provided is 4.90 per cent every year; for two years to lower than 3 years tenure, FD rate of interest at Kotak Mahindra Bank is 5.00 per cent every year; for 3 years and above however lower than 4 years, FD rate of interest is 5.10 per cent; for 4 years and above however lower than 5 years, FD rate of interest at Kotak Mahindra Bank is 5.20 per cent whereas for five years and above as much as and inclusive of 10 years FD, rate of interest provided at Kotak Mahindra Bank is 5.25 per cent.

    3] Axis Bank: New FD rate of interest at Axis Bank has turn out to be efficient from ninth September 2021. After revision, FD rate of interest provided at Axis Bank ranges from 2.50 per cent to five.75 per cent. For 7 days to 14 days and 15 days to 29 days tenor, FD rate of interest provided is 2.50 per cent every year; for 30 days to 45 days, 46 days to 60 days and 61 days to lower than 3 months tenor, FD rate of interest provided is 3.00 per cent; for 3 months to lower than 4 months, 4 months to lower than 5 months and 5 months to lower than 6 months, FD rate of interest provided is 3.50 per cent; for six months to lower than 7 months, 7 months to lower than 8 months, 8 months to lower than 9 months, 9 months to lower than 10 months, 10 months to lower than 11 months, 11 months to much less 11 months 25 days and 11 months 25 days to lower than 1 12 months tenor, FD rate of interest provided is 4.40 per cent.

    View Full PictureSource: Axis Bank web site

    For 1 12 months to lower than 1 12 months 5 days, FD charge provided is 5.10 per cent; for 1 12 months 5 days to lower than 1 12 months 11 days, FD charge provided is 5.15 per cent; for 1 12 months 11 days to lower than 1 12 months 25 days, 1 12 months 25 days to lower than 13 months, 13 months to lower than 14 months, 14 months to lower than 15 months, 15 months to lower than 16 months, 16 months to lower than 17 months and 17 months to lower than 18 months tenor, FD rate of interest provided is 5.10 per cent every year; for 18 months to lower than 2 years, FD charge at Axis Bank is 5.25 per cent; for two years to lower than 30 months, 30 months to lower than 3 years tenor and three years to lower than 5 12 months tenor, FD rate of interest provided by Axis Bank is 5.40 per cent whereas for tax saver FDs starting from 5 years to 10 years, rate of interest provided is 5.75 per cent every year.

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  • Axis Bank, Kotak Mahindra revise fastened deposit charges. Check newest FD charges right here

    Private sector lenders Axis Bank and Kotak Mahindra Bank have revised rates of interest on fastened deposits (FDs).  Both banks supply FDs throughout completely different tenures, starting from 7 days to 10 years.

    After the newest revision on deposits lower than 2 crores, Axis Bank is providing an rate of interest of two.50% on FDs with maturity between 7 days and 29 days, 3% for FDs maturing between 30 days and fewer than 3 months, 3.5% for FDs between 3 months and fewer than 6 months. These charges are with impact from 9 September.

    For FDs maturing in six months to lower than 11 months 25 days, Axis Bank offers a 4.40% rate of interest. For 11 months 25 days to lower than 1 yr 5 days 5.10%, 1 yr 5 days to lower than 18 months 5.10%.

    For time period deposits maturing in 18 months to lower than 2 years, Axis Bank offers 5.25% curiosity.

    For deposits for two years however lower than 5 years, Axis Bank gives an rate of interest of 5.40%. And deposits maturing in 5 years to 10 years will fetch you an rate of interest of 5.75%.

    Axis Bank newest FD charges

    7 days to 14 days 2.50%

    15 days to 29 days 2.50%

    30 days to 45 days 3.00%

    46 days to 60 days 3.00%

    61 days < 3 months 3.00%

    3 months < 4 months 3.50%

    4 months < 5 months 3.50%

    5 months < 6 months 3.50%

    6 months < 7 months 4.40%

    7 months < 8 months 4.40%

    8 months < 9 months 4.40%

    9 months < 10 months 4.40%

    10 months < 11 months 4.40%

    11 months < 11 months 25 days 4.40%

    11 months 25 days < 1 yr 4.40 %

    1 yr < 1 yr 5 days 5.10%

    1 yr 5 days < 1 yr 11days 5.15%

    1 yr 11days < 1 yr 25days 5.10%

    1 yr 25 days < 13 months 5.10%

    13 months < 14 months 5.10%

    14 months < 15 months 5.10%

    15 months < 16 months 5.10%

    16 months < 17 months 5.10%

    17 months < 18 months 5.10%

    18 months < 2 years 5.25%

    2 years < 30 months 5.40%

    30 months < 3 years 5.40%

    3 years < 5 years 5.40%

    5 years to 10 years 5.75%

    Kotak Mahindra Bank newest FD charges

    Kotak Mahindra Bank has revised the rate of interest on fastened deposits (FD). For FDs maturing in 7 to 30 days, 31 to 90 days and 91 to 179 days, Kotak Mahindra Bank gives an rate of interest of two.5%, 2.75% and three% respectively. For time period deposits maturing in 3 years and above however lower than 4 years, the financial institution will give 5.10%. For deposits maturing in 4 years and above however lower than 5 years, Kotak Mahindra Bank offers a 5.20% rate of interest. For FDs maturing in 5 years and above as much as and inclusive of 10 years, the financial institution offers 5.25%. These charges are relevant from 8 September 2021.

    7 – 14 days 2.50%

    15 – 30 days 2.50%

    31 – 45 days 2.75%

    46 – 90 days 2.75%

    91 – 120 days 3%

    121 – 179 days 3.25%

    180 days 4.25%

    181 days to 269 days 4.40%

    270 days 4.40%

    271 days to 363 days 4.40%

    364 days 4.40%

    three hundred and sixty five days to 389 days 4.50%

    390 days (12 months 25 days) 4.75%

    391 days – Less than 23 months 4.75%

    23 months 4.9%

    23 months 1 day- lower than 2 years 4.9%

    2 years- lower than 3 years 5%

    3 years and above however lower than 4 years 5.10%

    4 years and above however lower than 5 years 5.20%

    5 years and above as much as and inclusive of 10 years 5.25%

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  • Axis Bank begins issuing debt securities beneath Rs 35,000 crore-debt increase plan

    Axis Bank on Monday mentioned it has began issuing debt securities beneath its Rs 35,000 crore-debt increase plan introduced earlier this yr.
    In April, the personal sector lender had mentioned that its board had permitted capital increase proposal as much as Rs 35,000 crore by issuing numerous debt devices in Indian or international foreign money in home/abroad markets in a number of tranches.
    The shareholders of the financial institution had permitted the proposal in financial institution’s annual basic assembly in July.
    “The bank has initiated the process of issuing of the debt instruments, in the form of the additional tier 1 notes (notes) in foreign currency, subject to market conditions,” Axis Bank mentioned in a regulatory submitting.

    This will likely be a sustainable bond beneath the sustainable financing framework of the financial institution.
    The issuance is a part of the prevailing world medium time period notes (GMTN) programme of the financial institution, it mentioned.
    The lender mentioned the providing beneath the GMTN has been knowledgeable to Singapore Exchange Limited (SGX) and the International Securities Market (ISM).
    “The notes will not be offered or sold in India under the applicable laws,” it added.

  • 141 Nos PPE Kit Donation By Axis Bank

    For the prevention of Novel Corona Virus an infection and therapy of contaminated individuals, 141 nos of PPE equipment and 10 liters of sanitizer have been donated by Axis Bank department Kanker to District Administration Kanker. The mentioned PPE equipment and sanitizer had been handed over to Collector Mr. Chandan Kumar at the moment by the officers of Axis Bank.

  • Sensex jumps over 150 pts to contemporary excessive; Nifty crosses 15,900

    Equity benchmarks Sensex and Nifty scaled contemporary intra-day information in opening commerce on Monday, monitoring good points in heavyweights Reliance Industries, ICICI Bank and HDFC.
    After touching a lifetime excessive of 53,126.73, the 30-share BSE index was buying and selling 142.85 factors or 0.27 per cent larger at 53,067.89 in preliminary offers.
    Similarly, the broader NSE Nifty was buying and selling 42.25 factors or 0.27 per cent larger at 15,902.60. It touched a lifetime intra-day peak of 15,915.65 within the opening session.
    Asian Paints was the highest gainer within the Sensex pack, rising over 1 per cent, adopted by Dr Reddy’s, NTPC, Axis Bank, Sun Pharma, Kotak Bank, ICICI Bank and Reliance Industries.
    On the opposite hand, Titan, TCS, UltraTech Cement, Bharti Airtel and L&T had been among the many laggards.
    In the earlier session, the 30-share index Sensex closed 226.04 factors or 0.43 per cent larger at document 52,925.04, and Nifty superior 69.90 factors or 0.44 per cent to fifteen,860.35.
    Foreign institutional traders (FIIs) had been web sellers within the capital market as they offloaded shares value Rs 678.84 crore on Friday, as per provisional change knowledge.
    According to Binod Modi Head-Strategy at Reliance Securities, home markets look modestly good as of now.
    A pointy fall in day by day caseload and passable ramp up in vaccination course of overshadowed issues rising from larger crude costs and weakening rupee,? he mentioned, including that better-than-expected 4QFY21 earnings efficiency of firms has additionally supported the market’s uptick.
    Elsewhere in Asia, bourses in Shanghai, Seoul and Tokyo had been buying and selling with losses in mid-session offers.
    Meanwhile, worldwide oil benchmark Brent crude was buying and selling 0.17 per cent decrease at USD 75.25 per barrel.