Private sector lender Axis Bank has raised its interest rates for fixed deposits of less than 2 Cr. According to the bank’s official website, the new rates will come into effect on October 14, 2022. The bank raised interest rates to accommodate the revision by up to 75 basis points. Axis Bank now offers interest rates on fixed deposits maturing within 7 days to 10 years which range from 3.50% to 6.10% for the general public and 3.50% to 6.85% for senior citizens.

Axis Bank FD Rates

The bank increased its interest rate from 2.75% to 3.50% for deposits maturing within 7 to 29 days, an increase of 75 bps, and from 3.25% to 3.50% for deposits maturing within 30 days to 60 days, an increase of 25 bps. Deposits maturing in 61 days to three months will now offer an interest rate of 4.00%, up from 3.25% previously – an increase of 75 basis points – and deposits maturing in three to six months will now offer an interest rate of 4.25%, up from 3.75% previously—a 50-basis increase.

On deposits maturing between 6 and 9 months, Axis Bank increased interest rates by 35 basis points, from 4.65% to 5%. The bank increased interest rates on deposits maturing in 10 months to 1 year from 4.75% to 5.00% by 25 basis points, and Axis Bank increased interest rates on deposits maturing in 1 year to 1 year 11 days from 5.45% to 6.10% for 65%. basic points. Deposits maturing between 1 year 11 days and 1 year 25 days will now earn 6.10% interest, up from 5.75% earlier—an increase of 35 basis points—and deposits maturing between 1 year 25 days and 15 months will now earn interest. rate of 6.10%, from 5.60% previously – an increase of 50 points.

For deposits maturing within 15 months to 2 years, Axis Bank will continue to offer interest at 6.15%, while deposits maturing in 2 years to 3 years, the bank has increased interest by 50 points to 6.20% from 5.70. %. The bank increased the interest rate on deposits maturing in 3 to 5 years by 40 points to 6.10% from 5.70%, and Axis Bank increased the interest rate on deposits maturing in 5 to 10 years by 35 points to 6.10% from 5.75% . .

Axis Bank FD Rates

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Axis Bank FD Rates (axisbank.com)

Axis Bank FD Rates For Senior Citizens

For deposits that mature after 6 months to 10 years, Axis Bank offers senior citizens additional interest rate benefits. Axis Bank offers senior citizens a high interest rate of 6.95% on deposits that mature in two to three years.

Axis Bank FD Rates For Senior Citizens

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Axis Bank FD Rates For Senior Citizens (axisbank.com)

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