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Private lenders Axis Bank and DCB Bank have increased interest rates on non-resident deposits.
Axis Bank has raised interest rates on non-resident external (NRE) fixed deposits for above three years by 50-75 basis points and foreign currency non-resident (FCNR-B) deposits of over three years by one%. DCB Bank has also hiked NRE fixed deposit rates. The bank now offers a maximum of 10.25% interest on its NRE deposits.
