Axis Bank changed the interest rate on FD, now these are the rates on FD from 7 days to 10 years

Axis Bank changed the interest rate on FD, now these are the rates on FD from 7 days to 10 years

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new Delhi. Axis Bank, a large private bank in the country, has changed the interest rates available on Fixed Deposits (FD). The new rates will be effective from March 18. Let us tell you that Axis Bank offers FDs for various tenures ranging from 7 days to 10 years. Although fixed deposits are considered safe and profitable to invest, interest rates on FDs have come down in the last few years, thus reducing the interest of the people.

This change in interest rates is applicable on deposits of less than Rs 2 crore. The bank is giving 5.25 percent interest on the amount maturing in 18 months to 2 years. At the same time, Axis Bank is providing 5.40 percent interest on 2 years to less than 3 years.

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The bank is offering 5.40 percent interest on long-term deposits maturing in more than 3 years and less than 5 years. Along with this, deposits maturing in 5 years to 10 years will get an interest rate of 5.75 percent.

The new interest rates are as follows-

time period Rate of interest
7 -14 days 2.50%
15-29 days 2.50%
30-45 days 3.00%
46 to 60 days 3.00%
More than 61 days and less than 3 months 3.00%
More than 3 months and less than 4 months 3.50%
between 4 to 5 months 3.50%
between 5 months to 6 months 3.50%
Between 6 months to 7 months 4.40%
Between 7 months to 8 months 4.40%
Between 8 months to 9 months 4.40%
Between 11 months and 11 months, 25 days 4.40%
Between 11 months 25 days to 1 year 4.40%
Between 1 year to 1 year 5 days 5.10%
1 year 5 days to 1 year 11 days 5.15%
Between 1 year 11 days to 1 year 25 days 5.25%
1 year 25 days to 13 months – 5.15% 5.15%
Between 13 months to 14 months 5.15%
Between 14 months to 15 months 5.15%
Between 15 months to 16 months 5.20%
Between 16 months to 17 months 5.20%
Between 17 months to 18 months 5.20%
Between 18 months to 2 years 5.25%
Between 2 years to 30 months 5.40%
Between 30 months to 3 years 5.40%
Between 3 years to 5 years 5.40%
Between 5 years to 10 years 5.75%

Higher interest to senior citizens
Axis Bank offers higher interest rates to senior citizens on select maturities. Senior citizens will get an interest rate of 2.5 percent to 6.50 percent on deposits maturing in 7 days to 10 years. Earlier, State Bank of India (SBI), HDFC Bank, Bank of Baroda (Bank, Bank of Baroda) and Canara Bank had changed their FD interest rates.

Tags: Axis bank, Fixed deposits, Saving

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