FD Rates: Axis Bank gave good news to its customers, now more interest on fixed deposits than before

FD Rates: Axis Bank gave good news to its customers, now more interest on fixed deposits than before

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new Delhi. Along with SBI and IndusInd Bank, now Axis Bank has also changed its Fixed Deposit Rate. The new rates are applicable from 17 March 2022. The bank is giving 2.50 percent interest on FDs of less than Rs 2 crore for the shortest period i.e. 7-14 days.

The new rates are applicable on FDs of less than Rs 2 crore. After this change, the bank will give 5.25 percent interest on term deposits of more than 18 months and less than two years. Apart from this, Axis Bank is offering 2.90 percent interest on FDs of less than Rs 2 crore for 7-14 days for senior citizens.

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Know how much interest is getting on which period
Term Ordinary Senior Citizen

15-29 days 2.50 per cent 2.90 per cent
30-45 days 3 percent 3.50 percent
46-60 days 3 percent 3.50 percent
61-90 days 3 percent 3.50 percent
91-120 days 3.50 per cent 4 per cent
6 months one day 9 months 4.40 percent 4.90 percent
9 months one day less than one year 4.40 percent 4.90 percent
One year 4.40 percent 4.90 percent
One year one day to 2 years 5.10 percent 5.60 percent
Two years one day to 3 years 5.10 percent 5.60 percent
Three years one day to 5 years 5.45 percent 5.95 percent
5 years one day to 10 years 5.75 per cent 6.25 per cent

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SBI has also increased interest
SBI has also increased the interest rates on FD, giving relief to its customers. The bank has increased the interest rate on FDs of more than two years and less than 3 years by 10 basis points to 5.20 percent. For tenures of more than three years and five years, the rate has been increased by 15 basis points to 5.45 per cent. Similarly, for tenures above 5 years and up to 10 years, the interest rate has been increased by 10 basis points to 5.50 per cent. The new rates are applicable from 15 March 2022.

Tags: Axis bank, bank interest rate, Fixed deposits, Personal finance

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