Axis Bank has changed its FD interest rates. This change has been made for FDs with deposits of less than Rs 2 crore. The new interest rates will be applicable from 7 September. The bank is giving interest ranging from 2.50 percent to 5.75 percent on FDs ranging from 7 days to 10 years.
Significantly, after the increase in the repo rate, many banks and financial institutions have increased the interest rates on FDs significantly. This includes from PNB to ICICI Bank. Recently Canara Bank also increased the interest rates of its FD.
See Axis Bank’s new interest rates
Bank offers 2.50% interest rate on FDs maturing in 7 days to 29 days and the bank is offering 3% interest rate on FDs maturing in 30 days to 3 months . Depositors will now get an interest rate of 3.50% on FDs maturing in 3 months to 6 months and 4.65% on FDs maturing in 6 months to 7 months.Â
Axis Bank is offering an interest rate of 4.40% on FDs maturing in 7 months to 8 months. Deposits maturing in 8 months to 9 months will continue to get an interest rate of 4.65% and deposits maturing in 9 months to 1 year will continue to get an interest rate of 4.75%.
Other Interest Rates
Axis Bank will continue to offer 5.45% interest rate on FDs maturing in 1 year to 1 year 11 days and the bank will continue to offer 5.75% interest rate on FDs maturing in 1 year 11 days to 1 year 25 . FDs maturing in 1 year 25 days to 2 years will continue to offer an interest rate of 5.60%. At the same time, FDs maturing in 2 years to 5 years will now get an interest rate of 5.70%. Axis Bank will now pay an interest of 5.75% on FDs maturing in 5 years to 10 years. Significantly, the bank is giving additional interest to senior citizens. The bank has said that senior citizens will get interest ranging from 2.50 percent to 6.50 percent.
