Axis Bank FD Interest Rates Revised: Axis Bank has announced an increase of 10 bps in FD interest rate for amounts less than Rs 2 crore. Investors can get a maximum interest rate of 7.95 percent.
Axis Bank has increased the interest rates on fixed deposit schemes of some tenures, giving its investors a chance to earn more profits. The bank has announced a 10 bps hike in FD interest rate for deposits below Rs 2 crore. According to the bank’s website, the new rates are effective from July 17, 2023. Explain that Axis Bank offers interest rates between 3.5% to 7.20% for a period ranging from 7 days to 10 years.
Latest Interest Rates on Axis Bank FD
According to Axis Bank, 3.50% interest rate is being given on FDs maturing in 7 to 45 days. Whereas, for FDs maturing in 46 to 60 days, the interest rate is 4.00%. Axis Bank is offering 4.50% interest rate on FDs with maturity of 61 days to three months. Similarly, 4.75% interest rate is being given on deposits of 3 months to six months. At the same time, an interest rate of 5.75% is being given on FDs maturing in 6 to 9 months. FDs maturing in less than 9 months to one year will pay 6.00% interest.
The bank has offered 6.75% interest rate for FDs maturing in one year or one year and four days and 6.80% for FDs maturing in less than one year 5 days to 13 months. The bank gives 7.10 percent interest on FDs of 13 months and less than two years. However, the bank has now increased the interest rate by 10 bps to 7.20% on tenures of less than 16 months to 17 months, which is the highest interest rate offered by the bank. At the same time, Axis Bank is offering 7.05% for a period of less than 2 years to 30 months.
Interest Rates for Axis Bank Senior Citizens
According to Axis Bank, senior citizens are being offered interest rates ranging from 3.50% to 7.95% for tenures ranging from 7 days to 10 years. It has been announced to give the highest interest rate of 7.95% for a period of less than 16 months to 17 months.
Penalty on FD Premature Withdrawal
According to Axis Bank’s website, you can easily withdraw money from FD before maturity with a penalty of 1.0%.
