Axis Bank, the private sector lender, has revised interest rates on domestic term deposits below 2 million. The new rates are effective from today, October 1, 2022, according to the bank’s official website. Following the RBI’s decision to hike the repo rate by 50 basis points to 5.90% on Friday, Axis Bank has followed Bank of India (BOI), ICICI Bank, and RBL Bank in raising interest rates on fixed deposits. Axis Bank now offers fixed deposits maturing within 15 months to less than 2 years with a maximum interest rate of 6.15% for the general public and 6.90% for senior citizens.

Axis Bank FD rates for non-senior citizens

For deposits maturing within 7 to 29 days, the bank will offer 2.75% interest and for deposits maturing within 30 days to 3 months, Axis Bank is now offering 3.25% interest. Fixed deposits that mature in 3 to 6 months will now fetch 3.75% interest and term deposits that mature in 6 to 9 months will now fetch 4.65% interest. Axis Bank now offers an interest rate of 4.75% on time deposits maturing between 9 months to 1 year and the bank will offer an interest rate of 5.45% on time deposits maturing in 1 year to 1 year and 11 days.

The bank will now offer 5.75% interest on deposits maturing in 1 year, 11 days to under 1 year, 25 days, while Axis Bank will now offer 5.60% interest on term deposits maturing in 1 year, 25. days to 15 months For deposits maturing in 15 months to 2 years, Axis Bank is now offering a maximum interest rate of 6.15%, while for time deposits maturing in the next 2 years to 5 years, the bank is now offering 5.70% interest. . At Axis Bank, fixed deposits with maturities between five and ten years currently earn 5.75% interest.

Axis Bank FD Rates

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Axis Bank FD Rates (axisbank.com)

Axis Bank FD rates for senior citizens

Axis Bank offers senior citizens an additional interest rate benefit for deposits that mature between 6 months to 10 years. Axis Bank is now offering senior citizens an interest rate for the above tenure zone which ranges from 4.90% to 6.50%. Fixed deposits with maturities between 15 months and 2 years will now offer senior citizens a higher interest rate of 6.90%.

Axis Bank FD rates for senior citizens

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Axis Bank FD rates for senior citizens (axisbank.com)

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