New Delhi: Private sector lender Axis Bank has revised the Fixed Deposit (FD) rates under Rs 2 crore, offering up to 7.10% interest rate for general public and 7.60% for senior citizens on tenures of 15 months to 5 years
The new FD rates are applicable from October 12, said the bank.
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Axis Bank maintains that the Bank at its discretion, may disallow premature withdrawal of large deposits for amount Rs.5 crores and above, held by entities other than Individuals and Hindu Undivided Family (HUF).
Several private and public sector banks have revised their Fixed Deposit interest rates in the last couple of days. In its recent bi-monthly monetary policy announcement, the Reserve Bank of India (RBI) kept the repo rates unchanged at 6.5 percent.
The three-day MPC meeting Chaired by RBI Governor Shaktikanta Das, commenced on October 4 and concluded on October 6. Announcing the MPC’s decision Das said that the committee has unanimously decided to keep the repo rate at 6.5 percent.
