FD is considered the safest option for investment. Now the private sector Axis Bank has increased the interest rates of its FDs. That is, this is a great opportunity to earn more profit on deposits.
If you want to earn good returns while keeping your money safe, then you can invest in FD. Axis Bank of the private sector has now increased the interest on FDs.
Axis Bank has increased the interest on FDs of less than Rs 2 crore. The bank has taken this decision after the RBI increased the repo rate by 0.25 percent to 6.50 percent.
The increased interest rates on Axis Bank’s FD have come into effect from February 11, 2023 itself. The bank has increased the interest rate on FDs ranging from 7 days to 10 years.
Where the common people are getting interest ranging from 3.5 percent to 7 percent on FDs of different periods. On the other hand, this rate is available from 6 percent to 7.75 percent for senior citizens.
Axis Bank’s 2-year FD is getting the highest interest. It is 8.01 percent for senior citizens and 7.26 percent for the rest.
