New Delhi: Axis Bank, a leading private sector lender, has increased the interest rates on fixed deposits (FDs) for certain account holders who open such accounts. The Axis Bank FD rate increase comes at a time when major banks are raising their fixed deposit interest rates in response to the Reserve Bank of India’s repo rate hike.
The new rates are already in effect for Axis Bank FDs with maturities of more than nine months. The latest Axis Bank FD interest rate boost runs from 10 to 35 basis points, depending on the tenor, with elderly persons receiving an additional 0.50 percent.
The Axis Bank Fixed Deposit interest rate boost will take effect from May 12, 2022, and will apply to deposits of less than Rs 2 crore, according to a bank notification.
Check out the revised interest rates on fixed deposits:
7 days to 14 days: 2.50% for General Public; 2.50% for Senior Citizens
15 days to 29 days: 2.50% for General Public; 2.50% for Senior Citizens
30 days to 45 days: 3.00% for General Public; 3.00% for Senior Citizens
46 days to 60 days: 3.00% for General Public; 3.00% for Senior Citizens
61 days to less than 3 months: 3.00% for General Public; 3.00% for Senior Citizens
3 months to less than 4 months: 3.50% for General Public; 3.50% for Senior Citizens
4 months to less than 5 months: 3.50% for General Public; 3.50% for Senior Citizens
5 months to less than 6 months: 3.50% for General Public; 3.50% for Senior Citizens
6 months to less than 7 months: 4.40% for General Public; 4.65% for Senior Citizens
7 months to less than 8 months: 4.40% for General Public; 4.65% for Senior Citizens
8 months to less than 9 months: 4.40% for General Public; 4.65% for Senior Citizens
9 months to less than 10 months: 4.75% for General Public; 5.00% for Senior Citizens
10 months to less than 11 months: 4.75% for General Public; 5.00% for Senior Citizens
11 months to less than 11 months 25 days: 4.75% for General Public; 5.00% for Senior Citizens
11 months 25 days to less than 1 year: 4.75% for General Public; 5.00% for Senior Citizens
1 year to less than 1 year 5 days: 5.25% for General Public; 5.90% for Senior Citizens
1 year 5 days to less than 1 year 11 days: 5.25% for General Public; 5.90% for Senior Citizens
1 year 11 days to less than 1 year 25 days: 5.25% for General Public; 5.90% for Senior Citizens
1 year 25 days to less than 13 months: 5.25% for General Public; 5.90% for Senior Citizens
13 months to less than 14 months: 5.25% for General Public; 5.90% for Senior Citizens
14 months to less than 15 months: 5.25% for General Public; 5.90% for Senior Citizens
15 months to less than 16 months: 5.30% for General Public; 5.95% for Senior Citizens
16 months to less than 17 months: 5.30% for General Public; 5.95% for Senior Citizens
17 months to less than 18 months: 5.30% for General Public; 5.95% for Senior Citizens
18 months to less than 2 years: 5.30% for General Public; 5.95% for Senior Citizens
2 years to less than 30 months: 5.60% for General Public; 6.25% for Senior Citizens
30 months to less than 3 years: 5.60% for General Public; 6.25% for Senior Citizens
3 years to less than 5 years: 5.60% for General Public; 6.25% for Senior Citizens
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