Axis Bank revised upwards its base rate to 7.75 per cent from 7.5 per cent w.e.f. October 1.
IDBI Bank, has also revised its base rate upward by 0.50 per cent to 8.5 per cent with effect from October 1.
IDBI Bank has also increased its retail term deposit rates by 0.15-0.50 per cent in different maturity buckets.
The revised interest rates are effective from October 1 and with this revision, the highest interest on retail term deposits would be 8 per cent.
Interest rates on deposits of a tenor of 1,100 days, 5-7 years and 7-10 years has been increased to 8 per cent from 7.75 per cent.
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