Axis Bank, the private sector lender, has revised the interest rates on fixed deposits below 2 million. The new rates are effective from today, September 7, 2022, according to the official website. After the amendment, the bank now offers fixed deposits with maturities ranging from 7 days to 10 years with interest rates ranging from 2.50% to 5.75% for the general public and 2.50% to 6.50% for senior citizens.

Axis Bank FD Rates

For fixed deposits maturing within 7 to 29 days, the bank offers 2.50% interest and for term deposits maturing between 30 days to 3 months, the bank offers 3% interest. Fixed deposits maturing in 3 to 6 months will charge 3.50% interest and term deposits maturing in 6 to 7 months will now fetch 4.65% interest. Axis Bank offers an interest rate of 4.40% for fixed deposits maturing between 7 to 8 months. Deposits maturing within 8 to 9 months will continue to earn 4.65% interest and deposits maturing within 9 months to 1 year will continue to earn 4.75% interest %.

Axis Bank will continue to earn 5.45% interest on fixed deposits maturing within 1 year to 1 year 11 days and the bank will continue to promise an interest rate of 5.75% on fixed deposits maturing in 1 year 11 days to 1 year 25. days. Fixed deposits maturing in 1 year 25 days to 2 years will continue to yield an interest rate of 5.60% and fixed deposits maturing in 2 to 5 years will now fetch 5.70% interest. Axis Bank now offers an interest rate of 5.75% on fixed deposits maturing between 5 to 10 years.

Axis Bank FD Rates

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Axis Bank FD Rates (axisbank.com)

Axis Bank FD Rates For Senior Citizens

For fixed deposits maturing within 7 days to 10 years, senior citizens will now earn interest ranging from 2.50% to 6.50%. Fixed deposits maturing in 5 to 10 years will now fetch a higher interest rate of 6.50% for senior citizens.

Axis Bank FD Rates

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Axis Bank FD Rates (axisbank.com)

“In the case of Axis Bank, the minimum required to open an FD account is 5000 if done through internet banking or mobile app and 10,000 if done through a bank branch,” said the bank on its website.

“FDs can be withdrawn prematurely apart from “Fixed Deposit Plus”. The rate of interest will be 1% lower than the card rate prevailing as on the date of deposit, as applicable for the period the deposit remains in the bank or 1% lower than the contract rate , whatever is below,” said Axis Bank on its website.

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