|Period||< 1 Cr|
|Interest Rate||Senior Citizen Rates|
|7 days to 14 days||3.50 %||3.50 %|
|15 days to 29 days||3.50 %||3.50 %|
|30 days to 45 days||5.50 %||5.50 %|
|46 days to 60 days||6.25 %||6.25 %|
|61 days to less than 3 months||6.25 %||6.25 %|
|3 months to less than 4 months||6.25 %||6.25 %|
|4 months to less than 5 months||6.25 %||6.25 %|
|5 months to less than 6 months||6.25 %||6.25 %|
|6 months to less than 7 months||6.75 %||7.00 %|
|7 months to less than 8 months||6.75 %||7.00 %|
|8 months to less than 9 months||6.75 %||7.00 %|
|9 months to less than 10 months||7.00 %||7.25 %|
|10 months to less than 11 months||7.00 %||7.25 %|
|11 months to less than 1 year||7.00 %||7.25 %|
|1 year to less than 1 year 5 days||7.25 %||7.90 %|
|1 year 5 days to less than 1 year 11 days||7.25 %||7.90 %|
|1 year 11 days to less than 13 months||7.25 %||7.90 %|
|13 months to less than 14 months||7.30 %||7.95 %|
|14 months to less than 15 months||7.25 %||7.90 %|
|15 months to less than 16 months||7.25 %||7.90 %|
|16 months to less than 17 months||7.25 %||7.90 %|
|17 months to less than 18 months||7.25 %||7.90 %|
|18 months to less than 2 years||7.25 %||7.90 %|
|2 years to less than 30 months||7.25 %||7.90 %|
|30 months to less than 3 years||7.25 %||7.75 %|
|3 years to less than 5 years||7.25 %||7.75 %|
|5 years to 10 years||7.00 %||7.50 %|
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In India one of the most preferred banks under the private banks category is Axis Bank Ltd. The bank has the legacy of being the third largest private sector bank in India and has been functional since 1994. The bank has grown ever since the operations started and became the third largest bank in India overcoming many other private banks. The development of the banking sector and the contribution made by the Axis Bank Ltd is enormous. The bank started the operations with the name of UTI Bank and later the name was changed to Axis Bank Ltd which was most suited to the management of the bank as per the profile of the bank.
The bank has at present 2900 plus branches across the India and globe. This private bank has become a purely global bank with the branches in Singapore, Hong Kong, Dubai, Colombo and Shanghai, further the bank has the representative offices located in Dhaka, Dubai, Abu Dhabi, along with an overseas subsidiary in London, UK and has the operations in the nine countries. Thus from many of the nationalized banks which operations earlier than this bank, has less branches which shows the truly global picture of the bank.
The bank operates with the tagline of “Badhti Ka Nam Zindagi” which effectively means “growing is life”. The bank has shown the real growth ever since it started the operations in India. The bank has at present business of Rs 696742 Crores which means a business of 102.54 billion USD which shows the size of the bank as such. The total deposits in the bank stand at Rs 357968 Croress which means 52.68 billion USD of the business. The advances which is the loan book of the bank stand at Rs 338774 Croress which means the business of 49.86 billion USD. Like the top private banks the bank has the capital adequacy ratio of 15.29% which is a measure of the health of the bank when it comes to absorbing the shock in the banking industry during the distressed period. As per the guidelines of the Reserve Bank of India, by March 2019, the same ratio must be 11.50% for all banks to meet the BASEL-III norms. Hence the bank is well above the sound bank guidelines and has been doing the effective business. The bank has the total number of more than 50000 employees . The bank is presently being headed by Mrs. Shikha Sharma who is the MD & CEO of the bank. Before joining Axis Bank, she was with the ICICI group and held many important portfolios there. The bank has the headquarters at Mumbai which is the financial capital of India.
The bank like any other private bank has the unique feature of having more number of ATMs than the branches. The Bank has at present 12743 ATMs across the globe including India and thus reaches out its customers and offers various services to its clients who are in the far flung areas. Apart from the regular customer services which are being offered in any of the Indian Bank, the affiliated services are also offered in the bank like credit cards, demat and trading accounts, mutual funds sales. The bank at present operating under the robust fundamentals and has posted the core operating profit of 21% and the net profit of 12% which is very good from the point of view of shareholders of the bank. When the whole banking industry is struggling through the phase where the bad loans in the books of banks are mounting, the bank has done well and the total gross NPA which is bad advances including the mandatory provisioning as per the RBI guidelines is only 1.67% and the net NPA which is the actual NPA stands at less than 1% at 0.70%. The bank has dedicated its efforts in CASA which is low cost deposit mobilization and has shown the growth of 21% over the period of 5 years cumulatively. The effective management and the robust client–bank relationship apart from the other parameters have allowed the bank to grow at the pace faster than any other nationalized bank. There has been seen the spurt in the retail advances which is the story of every other bank in India and the total retail advances have grown by 31% cumulatively which shows the focus of the bank management towards the advances and its management.
So if you are the depositor or shareholder in the bank, stay tuned as this bank has all the capabilities to grow with good services to offer.