New Delhi: Axis Bank has changed its fixed deposit (FD) interest rates, from March 17, 2022. Axis Bank offers FDs with terms ranging from 7 days to 10 years.
Following the most recent revision on deposits less than 2 crores, Axis Bank now pays 5.25 percent interest on term deposits maturing in 18 months to less than 2 years.
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Axis Bank pays 5.40 percent interest on deposits held for less than 30 months but more than two years. Axis Bank offers a 5.40 percent interest rate on long-term deposits maturing in more than 3 years to less than 5 years. Deposits maturing in 5 to 10 years will earn an interest rate of 5.75 percent.
On deposits maturing in 7 days to 10 years, senior folks will receive interest rates ranging from 2.5 percent to 6.50 percent.
Axis Bank has updated the interest rates on domestic FDs as well as the rates on NRI and FCNR deposits. NRE deposits of up to Rs 2 crore for a one-to-two-year term would earn 5.10-5.25 percent.
Banks such as the State Bank of India (SBI), HDFC Bank, Bank of Baroda, and Canara Bank had already altered their FD interest rates.
Read More:-Bank of Baroda revises FD rates; check latest fixed deposit rates
Suryodaya Small Finance Bank recently changed their FD interest rates. With effect from March 10, 2022, the bank will offer a 7% return on FDs account on deposits for a three-year term.
Senior citizens would also receive an additional 0.50 percent interest on their fixed deposits at Suryodaya Small Finance Bank. As a result, a senior citizen FD account holder will receive a 7.5 return on its FD account over a three-year period.
