Axis Bank revises FD rates, now promising as high as 8.01% for senior citizens on this tenor
2 min read . Updated: 05 Apr 2023, 03:48 PM IST
Premium- Axis Bank, a major private lender, has altered the interest rates on fixed deposits under ₹2 crore.
Axis Bank, a major private lender, has altered the interest rates on fixed deposits under ₹2 crore. The bank now offers interest rates on deposits maturing in 7 days to 10 years that range from 3.50% to 7.00% for the general public and from 6.00% to 7.75% for senior citizens. The bank is giving a maximum interest rate of 7.26% for non-senior citizens and 8.01% for senior citizens on a deposit tenure of 2 years to 30 months. According to the bank's official website, the new fixed deposit interest rates are effective as of 4th April 2023.
Axis Bank FD Rates
The bank promises an interest rate of 3.50% on term deposits maturing in 7 days to 45 days, and Axis Bank is providing an interest rate of 4% on deposits maturing in 46 days to 60 days. For deposits with tenors of 61 days to three months, Axis Bank is giving a 4.50% interest rate, and on deposits with tenors of three months to six months, a 4.75% interest rate.
Deposits that mature in 6 to 9 months will now earn interest at a rate of 5.75%, while those that mature in 9 to 12 months will now earn interest at a rate of 6.00%. The bank promises an interest rate of 6.75% on term deposits maturing in 1 year to 1 year 24 days, and Axis Bank is now giving an interest rate of 7.10% on deposits maturing in 1 year 25 days to 13 months.
Axis Bank is now giving interest rates of 7.26% on deposits with a tenor of 2 years to 30 months and 7.15% on deposits with a tenor of 13 months to 2 years. The interest rate on deposits with maturities between 30 months and 10 years is now 7%.
With Axis Bank, you may open a fixed deposit online and deposit a minimum of 5,000 rupees for a variable term ranging from seven days to ten years. According to your need for income, you may pick between alternatives for FD interest payout, such as monthly, quarterly, or at maturity.
On fixed deposits maturing in 6 months to 10 years, senior citizens will get additional rates over and above the general public.
There were 2,665 centres with 4,700 domestic branches and extension counters as of Q3FY22. A footprint of 4,849 domestic branches and extension counters scattered throughout 2,734 centres was managed by the bank as of Q3FY23. The bank marked 15,674 ATMs and cash recyclers operating across the nation as of December 31, 2022.