Axis Bank Hikes Interest Rates For Fixed Deposits By Up To 115 Basis Points
Know the new Axis Bank FD interest rates.
Axis Bank, which is among some of the leading private sector banks in India, has increased its fixed deposit (FD) interest rates on FDs below ₹2 Crore. As per the bank’s official website, the revised Axis Bank FD interest rates are applicable from November 5, 2022.
Following the revision, Axis Bank has increased the FD interest rates by up to 115 basis points on deposits with maturities ranging from 46 days to 10 years.
Let’s take a look at the new Axis Bank FD rates.
Axis Bank FD Interest Rates
The revised FD interest rates offered by Axis Bank on deposits below ₹2 Crore are discussed below:
On Axis Bank fixed deposits with a maturity of 7 days to 45 days, the bank will continue to offer an interest rate of 3.50%.
On those maturing in 46 days to 60 days, Axis Bank has increased the rate of interest by 50 basis points to 4%.
FDs maturing in 61 days to 3 months will get an interest rate of 4.50% after a hike of 50 basis points.
Deposits maturing in 3 months to 6 months will now get an interest rate of 4.50% after a hike of 25 basis points.
Axis Bank has hiked their FD interest rate for deposits maturing in 6 months to 9 months by 50 basis points to 5.50%.
On deposits maturing in 9 months to 1 year, Axis Bank has increased the interest rate by 75 basis points to 5.75%.
The bank will now offer an interest rate of 7% on deposits maturing in 1 year to 15 months after a hike of 90 basis points.
On FDs maturing in 15 months to 18 months, Axis Bank will now offer an interest rate of 7% after a hike of 85 basis points.
The Axis Bank FD interest rate for deposits maturing in 18 months to 2 years will now be 7.05% after a hike of 90 basis points.
FDs maturing in 2 years to 3 years will now be offered an interest rate of 7.05% after a hike of 85 basis points.
Axis Bank has increased the FD interest rates by 115 basis points to 7.25% for FDs maturing in 3 years to 10 years.
Axis Bank FD Interest Rates For Senior Citizens
Axis Bank has also revised the FD interest rates for deposits made by senior citizens. Let’s take a look at these interest rates.