There is bad news for the customers of Axis Bank, the big private sector bank. If you are thinking of getting FD in this bank, then now you will get less interest on the deposited amount. Actually Axis Bank has cut the interest given on FD by 10 bps. According to the information received from the bank’s website, these new rates on FD have become effective from 28 August 2023 itself.
Interest rate reduced on FD for what period?
Axis Bank has reduced the interest rate by 10 bps from 7.20% to 7.10% on tenors less than 2 years to 30 months. Earlier, the bank had reduced the interest rate by 10 bps from 7.30% to 7.10% on August 18, 2023 for a tenure of less than 16 months to 17 months. In such a situation, now let us also know that after this recent deduction, according to which you will get the benefit of interest in the bank.
What is the new interest rate in Axis Bank?
Axis Bank is now offering its customers interest benefits of 3.50% on FDs maturing in 7 to 45 days and 4.00% on FDs maturing in 46 to 60 days. Axis Bank is now offering interest rates of 4.50% and 4.75% on FDs with maturity of 61 days to three months and 3 months to less than 6 months. At the same time, this bank is offering 5.75% interest on FDs maturing in 6 months to 9 months. While FDs maturing in 9 months to one year are getting interest at the rate of 6 per cent.
This much interest is being received on FDs of more than 1 year
Axis Bank is offering interest at 6.75 per cent on FDs maturing in one year and four days. On the other hand, the bank is offering 6.80 per cent interest on FDs maturing in 5 days to 13 months. Axis Bank is offering interest at the rate of 7.10 per cent for a period of 13 months to less than 30 months. At the same time, the bank is offering 7.10 percent interest with a 10 bps reduction for a period of less than 2 years 30 months. Axis Bank’s FD with a tenure of 30 months to ten years will get 7% interest rate.
