With the latest hike in FD rates, the Axis Bank is now offering interest rates on deposits maturing in 7 days to 10 years that range from 3.50% to 7.00% for the general public and 6.00% to 7.75% for senior citizens.
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Axis Bank FD Rate Hike Latest Update: Axis Bank has hiked interest rates on fixed deposits of less than Rs 2 crore and the announcement was made by the bank in line with the repo rate hike of RBI on Wednesday by 25 bps to 6.50%. According to the Axis Bank website, the new rates are effective from February 11, 2023.
With the latest hike in FD rates, the Axis Bank is now offering interest rates on deposits maturing in 7 days to 10 years that range from 3.50% to 7.00% for the general public and 6.00% to 7.75% for senior citizens.
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The bank said the fixed deposits with a maturity period of two years to thirty months will provide a maximum return of 8.01% for senior citizens and 7.26% for non-senior individuals.
The bank said it is now offering interest rate of 3.50% on fixed deposits that mature in the next 7 days to 45 days, interest rate of 4.00% on deposits that mature in the next 46 days to 60 days.
The bank also offers interest rates of 4.50% and 4.75% on deposits with terms ranging from 61 days to three months and three months to six months, respectively.
According to Axis Bank, the fixed deposits that mature in 6 to 9 months will now pay 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%.
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The fixed deposits that mature in 1 year to 1 year 24 days will offer an interest rate of 6.75% and for those maturing in 1 year 25 days to 13 months, Axis Bank is now offering an interest rate of 7.10%.
