Axis Bank, the leading private sector bank, has changed the interest rates on domestic FDs. According to the official website of the bank, the new rates are effective from 1 October 2022.
After increasing the repo rate by 50 basis points by the Reserve Bank, now the new repo rate has become 5.90 percent. Due to this, banks have increased the rates of interest on their FDs.
3.25% interest will be available on 30 days FD
Axis Bank is now offering FDs maturing in 15 months with a maximum interest rate of 6.15 percent for general public and 6.90 percent for senior citizens. According to the new FD rates, Axis Bank is now offering an interest rate of 2.75 percent on FDs maturing in 7 days to 29 days and 3.25 percent on FDs maturing in 30 days.
These will be the new rates of interest on FD
Axis Bank’s FD maturing in 3 to 6 months will now get interest at the rate of 3.75 percent. At the same time, interest will be given at the rate of 4.65 percent on FDs maturing in 6 to 9 months. Similarly, for a period of 9 months to 1 year, 4.75 percent, 1 year to 1 year will provide interest at the rate of 5.45 percent on FDs of 11 days and 5.60 percent on FDs maturing in 15 months.
Axis Bank is now offering a maximum interest rate of 6.15 percent on FDs for a period of 15 months to 2 years, while the bank is now offering an interest rate of 5.70 percent on FDs maturing in the next 2 to 5 years. Axis Bank is currently offering an interest rate of 5.75 per cent for tenures between five and ten years.
Fixed Deposit Interest Rates of Top 10 Banks in India for below Rs.2 crore
Given below are the latest interest rates offered by top banks for tenures ranging from 7 days to 10 years as of January 2023.
| Name of Bank | For General Citizens (p.a.) | For Senior Citizens (p.a) |
| State Bank of India FD | 3.00% to 6.75% | 3.50% to 7.25% |
| HDFC Bank FD | 3.00% to 7.00% | 3.50% to 7.75% |
| ICICI Bank FD | 3.00% to 7.00% | 3.50% to 7.50% |
| IDBI Bank FD | 3.00% to 6.75% | 3.50% to 7.50% |
| Kotak Mahindra Bank FD | 2.75% to 7.00% | 3.25% to 7.50% |
| RBL Bank FD | 3.25% to 7.55% | 3.75% to 8.05% |
| KVB Bank FD | 4.00% to 7.25% | 5.90% to 7.65% |
| Punjab National Bank FD | 3.50% to 7.25% | 4.00% to 7.75% |
| Canara Bank FD | 3.25% to 7.00% | 3.25% to 7.50% |
| Axis Bank FD | 3.50% to 7.26% | 3.50% to 8.01% |
| Bank of Baroda FD | 3.00% to 7.05% | 3.50% to 7.55% |
| IDFC First Bank FD | 3.50% to 7.50% | 4.00% to 8.00% |
FD Rates Offered by Other Popular Banks in India for below Rs.2 crore
The fixed deposit interest rates offered by other banks in India are given below for deposits below Rs.2 crore, as of January 2023. These are for tenures ranging from 7 days to 10 years.
| Name of Bank | For General Citizens (p.a.) | For Senior Citizens (p.a.) |
| Yes Bank FD | 3.25% to 7.00% | 3.75% to 7.75% |
| IndusInd Bank FD | 3.50% to 7.25% | 4.00% to 7.85% |
| UCO Bank FD | 2.90% to 7.15% | 3.15% to 7.25% |
| Central Bank of India FD | 3.00% to 6.75% | 3.50% to 7.25% |
| Indian Bank FD | 2.80% to 6.50% | 3.30% to 7.00% |
| Indian Overseas Bank FD | 4.50% to 7.00% | 5.00% to 7.50% |
| Bandhan Bank FD | 3.00% to 7.50% | 3.75% to 8.00% |
| DBS Bank FD | 2.50% to 7.25% | 2.50% to 7.75% |
| HSBC Bank FD | 2.85% to 7.00% | 3.35% to 7.50% |
| Duetsche Bank FD | 3.00% to 7.25% | 3.00% to 7.25% |
| SBM Bank FD | 4.25% to 7.75% | 4.75% to 8.25% |
Highest Small Finance Bank FD Interest Rates for Below Rs.2 crore
Small Finance Banks also provide high interest rates on FDs. Here are the highest interest rates for deposits below Rs.2 crore for tenures ranging from 7 days to 10 years effective from January 2023.
| Name of Bank | For General Citizens (p.a.) | For Senior Citizens (p.a.) |
| Suryoday Small Finance Bank FD | 4.00% to 8.51% | 4.50% to 8.76% |
| Ujjivan Small Finance Bank FD | 3.75% to 8.00% | 4.50% to 8.75% |
| ESAF Small Finance Bank FD | 4.00% to 8.00% | 4.50% to 8.50% |
| Unity Small Finance Bank FD | 4.50% to 8.50% | 4.50% to 9.00% |
| Jana Small Finance Bank FD | 3.75% to 7.85% | 4.70% to 8.80% |
| Utkarsh Small Finance Bank FD | 4.00% to 8.00% | 4.75% to 8.75% |
| Equitas Small Finance Bank FD | 3.50% to 8.00% | 4.00% to 8.50% |
| Fincare Small Finance Bank FD | 3.00% to 8.00% | 3.50% to 8.50% |
| AU Small Finance Bank FD | 3.75% to 7.75% | 4.25% to 8.25% |
| Capital Small Finance Bank FD | 3.50% to 7.50% | 4.15% to 8.15% |
| North East Small Finance Bank FD | 3.00% to 7.75% | 3.75% to 8.50% |
FD rates for senior citizens
Axis Bank is paying interest between 4.90 percent to 6.50 percent on FDs maturing in 6 months to 10 years for senior citizens. Along with this, the benefit of additional interest rate is also being given to senior citizens. Axis Bank will offer a maximum interest rate of 6.90% to senior citizens on FDs maturing between 15 months and 2 years.
