Axis Bank revises non-callable FD rates, new rates are effective from today

2 min read . Updated: 12 Dec 2022, 04:24 PM IST Vipul Das

Today, Axis Bank also revised interest rates on non-callable NRI deposits. On deposits of ₹2 Cr to ₹5 Cr, the bank is offering an interest rate of 7.20% on FDs maturing in 1 year to 1 year 5 days.

Axis Bank has revised its interest rates on non-callable fixed deposits (FDs) of ₹2 Cr and above.

Axis Bank non-callable FD rates

On deposits of ₹2 Cr to ₹5 Cr, the bank is offering an interest rate of 5.00% on FDs maturing in 30 days to 45 days and an interest rate of 6.00% on those maturing in 46 days to 3 months. Axis Bank is offering an interest rate of 6.30% on non-callable FDs maturing in 3 months to 6 months and an interest rate of 6.55% on those maturing in 6 months to 9 months. Non-callable FDs maturing in 9 months to 1 year will fetch an interest rate of 6.80% and those maturing in 1 year to 1 year 5 days will now fetch an interest rate of 7.20%. On deposits maturing in 1 year 5 days to 3 years, the bank is offering an interest rate of 7% and on those maturing in 3 years to 10 years, Axis Bank is promising an interest rate of 6.80%.

Axis Bank non callable NRI deposit rates

Today, Axis Bank also revised interest rates on non-callable NRI deposits. On deposits of ₹2 Cr to ₹5 Cr, the bank is offering an interest rate of 7.20% on FDs maturing in 1 year to 1 year 5 days. On non-callable NRI deposits maturing in 1 year 5 days to 3 years, Axis Bank is promising an interest rate of 7.00% and those maturing in 3 years to 10 years will now fetch an interest rate of 6.80%.

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Axis Bank raised interest rates on fixed deposits under ₹2 Cr by 20 bps on November 15, 2022. Fixed-deposit (FD) interest rates have been hiked by the bank by up to 20 basis points to 6.50% for FDs maturing in the next 18 to 3 years and by 15 basis points to 6.40% for FDs maturing in the next 15 to 18 months. On FDs maturing in 7 days to 10 years, Axis Bank is offering interest rates ranging from 3.50% to 6.50%. Senior citizens will now get a maximum interest rate of 7.25% on deposits maturing in 18 months to 10 years, while the general public will receive a maximum interest rate of 6.50%.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).