Moneycontrol has seen a copy of this mail sent to customers. In the mail, it has been said from the bank that non-personal usage of your credit card has been seen. The bank has also mentioned the names of some merchants. The bank has said that as per the policies, the credit card can be used only for personal expenses. All other uses including business and commercial are prohibited under the Axis Bank Card Member Agreement. According to the mail, the bank has found that users are using the card for unauthorized expenses to earn reward points.

Using personal credit for business expenses is against the terms and conditions

Tejas Ghongadi, co-founder of The Points Code, said that using personal credit for business expenses is against the terms and conditions. Axis Bank seems to have sent this mail to users who have used a particular payment gateway. Such gateway is used for business payment.

The right step for the sustainability of the rewards program

Ankur Mittal, co-founder and CTO of Card Insider, said that the bank’s decision to stop the redemption of reward points for some users is the right step for the sustainability of the rewards program. He said that Axis Bank has tried to ensure that genuine users continue to get the benefits of rewards while restricting business spends on personal cards.

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Changes are made in the interest rate by the banks from time to time. Interest rates are increased by the banks from time to time. With the change in the repo rate by the RBI, the interest rates are changed by the banks. According to the information received from the Axis Bank website, the bank has changed the interest rates on deposits of at least Rs.

Changes are made in the interest rate by the banks from time to time. Interest rates are increased by the banks from time to time. With the change in the repo rate by the RBI, the interest rates are changed by the banks. According to the information received from the Axis Bank website, the bank has changed the interest rates on deposits of at least Rs.

Getting this much interest rate

The bank is offering the benefit of 3.5 per cent interest rate on its tenure ranging from 7 days to 45 days. Is giving the benefit of 4% interest rate on tenure ranging from 46 days to 60 days. Customers are getting the benefit of 4.5 per cent interest rate on tenure ranging from 61 to 3 months. At the same time, it is giving the benefit of 4.75 percent interest rate to the customers from 3 months to 6 months.

From 6 months to 9 months, 5.75% and from 9 months to less than 1 year is giving the benefit of 6% interest rate to the customers. The benefit of 7.20 percent interest rate is available on the tenure of 16 months to less than 17 months.

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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%.

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7 days to 14 days: For general public – 3.00 per cent; For senior citizens – 3.50 per cent
15 days to 29 days: For general public – 3.00 per cent; For senior citizens – 3.50 per cent
30 days to 45 days: For general public – 3.50 per cent; For senior citizens – 4.00 per cent
46 days to 60 days: For general public – 4.50 per cent; For senior citizens – 5.00 per cent
61 days to 89 days: For general public – 4.50 per cent; For Senior Citizens – 5.00 per cent
equivalent to 90 days to 6 months: For General Public – 4.50 per cent; For senior citizens – 5.00 per cent
6 months 1 day to less than 9 months: For general public – 5.75 per cent; For senior citizens – 6.25 percent
9 months 1 day to less than 1 year: For general public – 6.00 per cent; For senior citizens – 6.50 per cent
1 year to less than 15 months: For general public – 6.60 per cent; For senior citizens – 7.10 per cent
15 months to less than 18 months: For general public – 7.10 per cent; For senior citizens – 7.60 per cent
18 months 1 day to less than 21 months: For general public – 7.00 per cent; For senior citizens – 7.50 percent
21 months to 2 years: For general public – 7.00 percent; For Senior Citizens – 7.50 per cent
2 years 1 day to 2 years 11 months: For General Public – 7.00 per cent; For senior citizens – 7.50 per cent
2 years 11 months 1 day to 3 years: For general public – 7.00 per cent; For senior citizens – 7.50 percent
3 years 1 day to 4 years 7 months: For general public – 7.00 per cent; For senior citizens – 7.50 per cent
4 years 7 months to 55 months: For general public – 7.25 per cent; For Senior Citizens – 7.75 per cent
5 years 1 day to 10 years: For General Public – 7.00 per cent; For senior citizens – 7.50 percent

Axis Bank FD Rates

7 days to 14 days: 3.50 per cent for general public; 3.50 per cent for senior citizens
15 days to 29 days: 3.50 per cent for general public; 3.50 per cent for senior citizens
30 days to 45 days: 3.50 per cent for general public; 3.50 per cent for senior citizens
46 days to 60 days: 4.00 per cent for general public; 4.00 per cent for senior citizens
61 days to less than 3 months: 4.50 per cent for general public; 4.50 per cent for senior citizens
3 months to less than 4 months: 4.75 per cent for general public; 4.75 per cent for senior citizens
4 months to less than 5 months: 4.75 per cent for general public; 4.75 per cent for senior citizens
5 months to less than 6 months: 4.75 per cent for general public; 4.75 percent for senior citizens
6 months to less than 7 months: 5.75 per cent for general public; 6.00 per cent for senior citizens
7 months to less than 8 months: 5.75 per cent for general public; 6.00 per cent for senior citizens
8 months to less than 9 months: 5.75 per cent for general public; 6.00 percent for senior citizens
9 months to less than 10 months: 6.00 percent for general public; 6.25 per cent for senior citizens
10 months to less than 11 months: 6.00 per cent for general public; 6.25 per cent for senior citizens
11 months to less than 11 months 25 days: 6.00 per cent for general public; 6.25 per cent for senior citizens
11 months 25 days to less than 1 year: 6.00 per cent for general public; 6.25 percent for senior citizens
1 year to less than 1 year 4 days: 6.75 per cent for general public; 7.50 per cent for senior citizens
1 year 5 days to less than 1 year 11 days: 6.80 per cent for general public; 7.55 per cent for senior citizens
1 year 11 days to less than 1 year 24 days: 6.80 per cent for general public; 7.55 per cent for senior citizens
1 year 25 days to less than 13 months: 6.80 per cent for general public; 7.55 per cent for senior citizens
13 months to less than 14 months: 7.10 per cent for general public; 7.85 per cent for senior citizens
14 months to less than 15 months: 7.10 per cent for general public; 7.85 per cent for senior citizens
15 months to less than 16 months: 7.10 per cent for general public; 7.85 percent for senior citizens
16 months to less than 17 months: 7.10 per cent for general public; 7.85 per cent for senior citizens
17 months to less than 18 months: 7.10 per cent for general public; 7.85 percent for senior citizens
18 months to less than 2 years: 7.10 percent for general public; 7.85 per cent for senior citizens
less than 2 years to 30 months: 7.05 per cent for general public; 7.80 per cent for senior citizens
30 months to less than 3 years: 7.00 per cent for general public; 7.75 percent for senior citizens
3 years to less than 5 years: 7.00 percent for general public; 7.75 per cent for senior citizens
5 years to 10 years: 7.00 per cent for general public; 7.75 percent for senior citizens

SBI FD Rates

7 days to 45 days: For general public – 3.00 per cent; For senior citizens – 3.50 per cent
46 days to 179 days: For general public – 4.50 per cent; For senior citizens – 5.00 per cent
180 days to 210 days: For general public – 5.25 per cent; For senior citizens – 5.75 per cent
211 days to less than 1 year: For general public – 5.75 per cent; For senior citizens – 6.25 per cent
1 year to less than 2 years: For general public – 6.80 per cent; For Senior Citizens – 7.30 per cent
2 years to less than 3 years: For General Public – 7.00 per cent; For senior citizens – 7.50 per cent
3 years to less than 5 years: For general public – 6.50 per cent; For senior citizens – 7.00 percent
5 years to 10 years: For general public – 6.50 per cent; For senior citizens – 7.50 percent

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What is this service

Axis Bank ‘s new service ‘One-View’ to enable customers to access multiple bank accounts on a single platform, track their balances and spend on a real-time basis Simplifies the process of financial management.

What did the bank say

Speaking on the occasion, Sameer Shetty, Head and Chief, Digital Business & Transformation, Axis Bank, said, “Axis Bank believes in the power of ‘open’ banking and we continue to invest in digital-first products. In this endeavor, we are excited to launch the ‘One-View’ feature on the Axis Mobile App by leveraging the account aggregator ecosystem. The proposal offers a seamless banking experience and will ease many mobile banking operations. We believe that this change will prove to be a revolutionary step towards transforming banking.

Customers will be able to get these facilities

Through this service, users will get the onboarding service of linking other bank accounts in the Axis Mobile App. Apart from this, all the details of many bank accounts and balance and transactions remaining in them will also be available. Apart from this, users will also be able to get rid of many unnecessary tasks.

Through this facility, users will be able to download the transaction details of the linked account. Apart from this, users will also be able to delink the accounts of one or all other banks as per their convenience. Apart from this, a safe option to share information is also available in this facility.

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But meanwhile, it was said in many media reports that the problem of liquidity of banks will end with the arrival of Rs 2000 notes. This will have a direct impact on the interest the customers get on FDs etc. That is, banks will reduce the interest rate available on FD in future. In the last one year itself, the repo rate has been increased by two and a half percent by the RBI.

After the increase in the repo rate, interest on FDs and other savings schemes was increased by the banks. However, in the last few months, banks have not increased the rate of FD. Not only this, some banks have reduced the interest rate offered on FDs to their customers. Let us know which banks have taken this step?

Punjab National Bank

Punjab National Bank has changed the interest rate on FDs of less than 2 crores. According to the bank’s website, the new rates are effective from June 1, 2023. The bank has reduced the interest rate on one-year deposits from 6.80 percent to 6.75 percent. Recently, the interest of FDs maturing in 666 days has been reduced from 7.25 percent to 7.05 percent. For senior citizens, the one-year FD interest rate was reduced from 7.30 percent to 7.25 percent. Similarly, FDs maturing in 666 days will get 7.55 percent interest instead of 7.75 percent.

Axis Bank

Axis Bank has reduced the interest rate on select FDs by 20 basis points. FD interest rates are effective from May 18, 2023. According to the information given on the bank’s website, the bank is offering 6.80 percent interest instead of 7.10 percent for schemes ranging from 1 year 5 days to less than 13 months. The bank is getting 7.10 percent interest instead of 7.15 percent on FDs ranging from 13 months to 2 years.

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But, now two PNB and Axis Bank have reduced the interest rates (Fixed Deposit Rates) on select tenure FDs instead of increasing them. In such a situation, if you are planning to invest in FD, then it will be necessary to understand the latest interest rates and tenure properly, so that the expectation of higher returns can be fulfilled.

PNB has reduced the interest rate on FD of 666 days

Punjab National Bank ( PNB Latest FD Rates) has reduced the interest rate on FDs with tenure of 666 days for all types of investors including general investors from May 18. The bank has cut interest rates (PNB Reduced FD interest rates) for regular citizens and senior citizens and NRE investors on FDs maturing in 666 days.

The bank has reduced the interest rate for ordinary citizens from 7.25 per cent to 7.05 per cent on FDs of 666 days. On this tenure, the bank has reduced the interest rate for senior citizens from 7.75 per cent to 7.55 per cent. At the same time, the bank has reduced the interest rate for NRE customers from 7.25 percent to 7.05 percent.

Axis Bank reduced interest rates on FDs of many tenures

Axis Bank ( Axis Bank FD Interest Rates) has reduced interest rates (FD Interest Rates) by 20 basis points on fixed deposits of many tenures with deposits less than Rs 2 crore. The new FD interest rates have been made effective from 18 May 2023. Axis Bank is offering interest rates ranging from 3.5 per cent to 7.10 per cent on FDs for tenures ranging from 7 days to 10 years.

1. Axis Bank has reduced the interest rate on fixed deposits maturing in one year to one year and four days by 5 basis points, after which now the interest rate has come down by 0.20 per cent to 6.75 per cent.
2. The bank has reduced 20 basis points on FDs maturing in one year, 5 days to less than 13 months, after which the interest rate has been reduced to 6.80 percent. Earlier 7.10 percent interest rate was being given on this tenure.
3. Axis Bank has reduced 5 basis points on FDs of tenure less than 13 months and two years. Now on this tenure, the bank will give 7.10 percent interest rate to the investors, which was earlier 7.15 percent.
4. Axis Bank has slashed 15 basis points on FDs of tenure less than 2 years to 30 months, after which the interest rate has come down from 7.20 per cent to 7.05 per cent.

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These banks increased the interest rate

On Friday, Suryoday Small Finance Bank (SSFB) increased its FD rate on senior citizen deposits of less than Rs 2 crore to 9.6 per cent for 5 years. For regular customers, the bank is giving 9.1 per cent interest. Unity Small Finance Bank (USFB) is also offering FD rates of up to 9.5 per cent to senior citizens and up to 9 per cent for others on deposits below Rs 2 crore. Apart from this, SBI is offering up to 7.6 per cent interest while HDFC Bank is offering up to 7.75 per cent interest to senior citizens. Axis Bank is paying interest up to 7.95 percent while IDFC First Bank is paying interest up to 8.25 percent.

Amount up to 5 lakhs only secured

Bank FD rates are increasing and there is a possibility of further increase in them. If RBI increases the repo rate again in future, then this is a good opportunity for senior citizens and regular customers to book FDs at higher rates. FDs not only provide guaranteed returns but are also considered safer as compared to various market linked products.

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However, before investing you must know that only up to Rs 5 lakh is guaranteed under the Deposit Insurance and Credit Guarantee Corporation (DICGC) regulations of the RBI. This means that in case of bank failure, your deposits up to Rs 5 lakh in the bank will be safe.

How much should you invest?

The limit of Rs 5 lakh includes interest as well as principal amount. Banks are also required to give money back to depositors within 90 days in case of bank failure. To avail the benefits of currently high FD rates and get guaranteed returns, senior citizens and others should invest only that amount in the bank for which the interest is not more than Rs 5 lakh. For depositing more amount, the customer can open multiple FD accounts in different banks to be safe.

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Axis Bank is offering interest ranging from 3.50 per cent to 7 per cent on fixed deposits ranging from 7 days to 10 years. The bank is offering the highest interest rate of 7.20 per cent on FDs maturing in 2 years to 30 months, while senior citizens will get interest at the rate of 7.95 per cent on FDs of this period.

Axis Bank’s new FD rates

will continue to offer an interest rate of 3.50 per cent on FDs maturing in 7 days to 45 days. The bank will pay 4% interest on deposits maturing in 46 days to 60 days. An interest rate of 4.50 per cent will be offered on deposits maturing in 61 days to 3 months. Now 4.75 percent interest rate will be given on deposits maturing in 3 months to 6 months. Axis Bank will offer 5.75 percent interest rate on deposits maturing in 6 months to 9 months. 6% interest rate will be available on deposits maturing in 9 months to 1 year.

The pace of increase in the repo rate has stopped after 6 consecutive shocks.

Recently, the Reserve Bank of India (RBI) has given great relief to the common man. Actually, in the first MPC meeting of the new financial year, it has been announced to keep the repo rate stable. The repo rate has been retained at 6.50 per cent. Earlier, RBI had increased the repo rate by 2.50 percent from May 2022 to February 2023.

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Banks are offering good interest rates to their regular customers as well as senior citizens. Many banks are paying interest up to 8.50% per annum on FDs ranging from 1 year to 3 years. Here we know about 5 such banks which are giving up to 8.5% annual interest to the customers on deposits of 1, 2, 3 years. Usually, senior citizens are offered up to 0.50% more interest than regular customers. 

Axis Bank

Bandhan Bank

RBL Bank

IDFC First Bank

DCB Bank

(Note: These interest rates have been taken from the official website of the banks. The rates are effective for deposits less than 2 crores.)

Know tax provisions on FD

The interest income from all term fixed deposits is fully taxable. That is, after adding this income to the total income of the investor, it will have to be taxed according to the tax slab. According to the Income Tax Act, people aged 60 years or more are kept in the senior citizen category. Senior citizens get the benefit of deduction on interest income up to Rs 50,000 during a financial year.

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Banks are offering good interest to senior citizens along with regular customers. Some banks are giving annual interest of up to 8.50 percent on FD. Let us know about the interest rate of five banks- Axis Bank is offering 6.75% for one year, 7.26% for two years and 7.00% for 3 years. Senior citizens are being given additional interest of 0.75% for all the three tenures.

Bandhan Bank has offered an interest rate of 7.25% for one year, 8.00% for 600 days, 7.25% for 2 years and 3 years. For senior citizens, additional interest of 0.50% is being given in every tenure.

RBL Bank is offering 7.00% for one year, 7.80% for 725 days, 7.00% for 2 years and 3 years. 0.50% additional interest is being offered by the bank for senior citizens.

IDFC First Bank is offering 6.75% interest for one year, 7.25% for 2 years and 7.75% for 3 years. 0.50% additional interest is being offered by the bank on all the three tenures.

DCB Bank is offering 7.25% interest for one year FD, 8.00% for 2 years and 7.60% for 3 years. DCB is also offering an additional interest of 0.50% on all the three tenures.

(Note: These interest rates have been taken from the official website of the banks. Rates are effective for deposits below Rs 2 crore.)

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Increased interest on this FD

According to Axis Bank’s website, the bank has increased the interest rate on FDs of 13 months and less than two years by 40 basis points i.e. 0.40 per cent. The bank has increased the interest on this from 6.75 per cent to 7.15 per cent. Bank Sabes is paying an interest of 7.26 percent more on FDs from 2 years to 30 months. These are the new interest rates of the bank.

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In such a situation, which bank is getting the highest interest on an amount of less than Rs 2 crore for a period of 7 to 10 years? To understand this, we checked the FD rates of SBI, HDFC BANK, AXIS BANK, IDFC FIRST BANK and RBL BANK, which are higher than others in terms of interest offered.

In which bank is getting more interest?

Major banks of the country are offering up to 7.8% interest on FDs for a period of 7 days to 10 years. Now let us understand from the figures of returns in terms of investment of Rs 1 lakh, which bank is getting the highest interest?

• RBL Bank: For general customers, a minimum interest of up to 3.25% is being offered for a period of 7 days. While paying 7.80 percent interest annually for a period of up to 10 years. In this context, an investment of Rs 1 lakh will increase to Rs 2.16 lakh in a period of 10 years.
• IDFC FIRST BANK: For general customers, a minimum interest of up to 3.50 per cent is being offered for a period of 7 days. While paying 7.50 percent interest annually for a period of up to 10 years. The investment amount of Rs 1 lakh will increase to Rs 2.10 lakh on the calculation of maximum interest in a period of 10 years. 
• AXIS BANK: For general customers, a minimum interest of up to 3.50 per cent is being offered for a period of 7 days. While paying 7.26 percent interest annually for a period of up to 10 years. In terms of maximum period and interest, the investment of Rs 1 lakh will be Rs 2.05 lakh.  
• SBI: For general customers, a minimum interest of up to 3% is being offered for a period of 7 days. While paying 7.10 percent interest annually for a period of up to 10 years. If you invest Rs 1 lakh, then after 10 years at an annual interest rate of 7.10 percent, your amount will increase to Rs 2.02 lakh. 
• HDFC Bank: For general customers, for a period of 7 days, a minimum interest of up to 3 percent is being offered. While paying 7.10 percent interest annually for a period of up to 10 years. With an annual return of 7.1%, an investment of Rs 1 lakh will grow to Rs 2.02 lakh over a period of 10 years.

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10 big banks of the country SBI, ICICI, HDFC, Axis, Bandhan Bank, IndusInd Bank, Yes Bank, Bank of India, RBL Bank and Kotak Mahindra Bank have recently increased the interest rates on FD. Now out of these 10 banks, Bandhan Bank, Yes Bank, Axis Bank, HDFC, ICICI are giving the highest interest to senior citizens. Let us know which of these banks is offering the highest interest.

HDFC bank new rates

1 year to 15 months: For general public – 6.50 per cent; For Senior Citizen – 7.00 percent
15 months to less than 18 months: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
18 months to 2 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
2 years 1 day to 3 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
3 years 1 day to 5 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
5 years 1 day to 10 years: For general public – 7.00 per cent; For senior citizens – 7.75 percent.
ICICI Bank’s interest rates on FDs of less than Rs 2 crore ..
1 year to 389 days: For general public – 6.60 per cent; For Senior Citizen – 7.10 percent
390 days to less than 15 months: For general public – 6.60 per cent; For Senior Citizen – 7.10 percent
15 months to less than 18 months: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
18 months to 2 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
2 years 1 day to 3 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
3 years 1 day to 5 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent
5 years 1 day to 10 years: For general public – 6.90 per cent; For Senior Citizen – 7.50 percent.

SBI FD rates

SBI is giving maximum 7% interest on FD to senior citizens. Apart from this, common people are getting 6.50 percent interest on FDs of one year to less than 2 years, 5.50 percent interest on FDs of 180 to 210 days. The bank is giving 5.75% interest for 211 days. 5.75% interest is being received on FDs ranging from 2 years to less than 5 years. 5.50% on FDs of 5 years and up to 10 years, 5% interest is being received on FDs of 46 days to 179 days. 3.50 percent interest is being received on FD of 7 to 45 days.

Kotak Mahindra Bank revised FD rates on 28 December

6 months: For general public – 5.75%, for senior citizens – 6.25%

12 months: For general public – 6.75 percent, for senior citizens – 7.25 percent

15 months: For general public – 7 percent, for senior citizens – 7.5 percent

18 months: For general public – 7 percent, for senior citizens – 7.5 percent

21 months: For general public – 7 percent, for senior citizens – 7.5 percent.

Axis Bank FD interest rates – for amounts below Rs 2 crore

• 3 months to less than 4 months: 4.50 per cent for general public; 4.50 percent for senior citizens
• 4 months to less than 5 months: 4.50 per cent for general public; 4.50 percent for senior citizens
• 5 months to less than 6 months: 4.50 per cent for general public; 4.50 percent for senior citizens
• 6 months to less than 7 months: 5.75 per cent for general public; 6.25 percent for senior citizens
• 7 months to less than 8 months: 5.75 per cent for general public; 6.25 percent for senior citizens
• 8 months to less than 9 months: 5.75 per cent for general public; 6.25 percent for senior citizens
• 9 months to less than 10 months: 6.00 per cent for general public; 6.50 percent for senior citizens
• 10 months to less than 11 months: 6.00 per cent for general public; 6.50 percent for senior citizens
• 11 months to less than 11 months 25 days: 6.00 per cent for general public; 6.50 percent for senior citizens
• 11 months 25 days to less than 1 year: 6.00 per cent for general public; 6.50 percent for senior citizens
• 1 year to less than 1 year 5 days: 6.75 per cent for general public; 7.25 percent for senior citizens
• 1 year 5 days to less than 1 year 11 days: 6.75 per cent for general public; 7.25 percent for senior citizens
• 1 year 11 days to less than 1 year 25 days: 6.75 per cent for general public; 7.25 percent for senior citizens
• 1 year 25 days to less than 13 months: 6.75 per cent for general public; 7.25 percent for senior citizens
• 13 months to less than 14 months: 6.75 per cent for general public; 7.25 percent for senior citizens
• 14 months to less than 15 months: 6.75 per cent for general public; 7.25 percent for senior citizens
• 15 months to less than 16 months: 6.75 per cent for general public; 7.25 percent for senior citizens
• 16 months to less than 17 months: 6.75 per cent for general public; 7.25 percent for senior citizens
• 7 months to less than 18 months: 6.75 per cent for general public; 7.25 percent for senior citizens
• 18 months to less than 2 years: 6.75 per cent for general public; 7.25 percent for senior citizens
• Less than 2 years to 30 months: 7.00% for general public; 7.50 percent for senior citizens
• 30 months to less than 3 years: 7.00 per cent for general public; 7.50 percent for senior citizens
• 3 years to less than 5 years: 7.00% for general public; 7.50 percent for senior citizens
• 5 years to 10 years: 7.00 per cent for general public; 7.50 percent for senior citizens.

RBL Bank FD rates

• 7 days to 14 days: For general public – 3.50 per cent; For senior citizens – 4 percent
• 15 days to 45 days: For general public – 4.00 per cent; For Senior Citizen – 4.50 percent
• 46 days to 90 days: For general public – 4.50 per cent; For senior citizens – 5 percent
• Less than 91 days equal to 6 months: For general public – 4.75 per cent; For Senior Citizen – 5.25 percent
• 181 days to 240 days: 5.50 per cent for general public; For senior citizens – 6 percent
• 241 days to 364 days: For general public – 6.05 per cent; For Senior Citizen – 6.55 percent
• 365 days to 452 days: For general public – 7%; For Senior Citizen – 7.50 percent
• 15 months: For general public – 7.80 per cent; 8.30 percent for senior citizens
• 15 months 1 day to 725 days: For general public – 7.80 per cent; 8.30 percent for senior citizens
• 725 days: For general public – 7.80 per cent; 8.30 percent for senior citizens

Bandhan bank new rates

• 7 days to 15 days: For general public – 3 percent
• 16 days to 28 days: For general public – 3 percent
• 29 days to 45 days: For general public – 3.50 percent
• 46 days to 90 days: For general public – 4.50 percent
• 91 days to 180 days: For general public – 4.50 percent
• 181 days to 364 days: For general public – 6.75 percent
• 365 days: For general public – 7.90 percent
• 366 days: 7.90 percent for general public
• 367 days to less than 15 months: 7.90 percent for general public
• 15 months to less than 2 years: 6.15 percent for general public
• 2 years to 3 years: 6.15 percent for general public
• 3 years to 5 years: 6.15 percent for general public
• 5 years to 10 years: 5.00 percent for general public

IndusInd Bank FD Rates (Fixed Deposit Rate on IndusInd Bank )

• Interest on FD maturing in 7 to 30 days – 3.50%
• Interest on FD maturing in 31 to 45 days – 4%
• Interest on FD maturing in 46 to 60 days – 4.50%
• Interest on FD maturing in 61 to 90 days – 4.60%
• 4.75% interest on FDs maturing in 91 to 120 days
• Interest on FD maturing in 121 to 180 days – 5%
• 5.75% interest on FDs maturing in 181 to 210 days
• 5.80% interest on FDs maturing in 211 to 269 days
• Interest on FD maturing in 270 to 354 days – 6%
• 6.25% interest on FDs maturing in 355 to 364 days
• Interest on FD maturing in 1 year to 1 year 6 months – 7%
• 7.25% interest on FDs maturing in 1 year to 6 months to 2 years
• Interest on FD of 2 years to 3 years is 7.50 percent
• 7.25% interest on FDs of 3 years to 61 months
• Interest on 5 year FD 7.25 percent

Interest rates on Yes Bank FD

• On FD of 7 to 14 days – 3.25 percent interest
• On FD of 15 to 45 days – 3.70 percent interest
• On FD of 46 to 90 days – 4.10 percent interest
• 91 to 180 days on FD – 4.75 percent interest
• On FD of 181 to 271 days – 5.75 percent interest
• 272 to less than 1 year on FD – 6 percent interest
• On FD of 1 year to 120 months – 7 percent interest

Bank of India increased interest on FD

The country’s public sector bank Bank of India (BOI) has revised the FD interest rates. The bank has increased the interest on FDs of less than Rs 2 crore. The bank is offering higher interest on FD of 444 days. BOI is offering 7.05 percent interest to the common people on 444 days FD. The bank is offering 7.55 percent interest to senior citizens on this FD. The bank is paying 7.25 percent interest on FDs of 2 to 5 years.

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If you want to earn good returns while keeping your money safe, then you can invest in FD. Axis Bank of the private sector has now increased the interest on FDs.

Axis Bank has increased the interest on FDs of less than Rs 2 crore. The bank has taken this decision after the RBI increased the repo rate by 0.25 percent to 6.50 percent.

The increased interest rates on Axis Bank’s FD have come into effect from February 11, 2023 itself. The bank has increased the interest rate on FDs ranging from 7 days to 10 years.

Where the common people are getting interest ranging from 3.5 percent to 7 percent on FDs of different periods. On the other hand, this rate is available from 6 percent to 7.75 percent for senior citizens.

Axis Bank’s 2-year FD is getting the highest interest. It is 8.01 percent for senior citizens and 7.26 percent for the rest.

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Investing in it is considered very safe. Know how much interest is being received in which bank. In this news, you are being given information about interest on FD of many banks together. From which you can choose the right bank for yourself.. Know what are the complete details….

What is Fixed Deposit

According to the rules of the Reserve Bank of India (RBI), you can keep your money in a fixed deposit in a lump sum bank. On which you get the benefit of interest every year. This can be extended even further. In this, senior citizens get more interest.

Getting so much interest

To control inflation from the RBI, there has been a change in the repo rate several times since last year. In such a situation, the bank also provides you attractive schemes on Fixed Deposit. In this, whether it is Axis Bank, Canara Bank or Punjab National Bank, all banks are offering interest rates of 8 percent or more on many periods among rising FDs. In this, interest of 8 percent or more is being given to senior citizens.

People of this age group are senior

For this scheme, you should be 60 years or more and less than 80 years of age. These people are considered senior citizens in the country. A very senior citizen is one whose age is 80 years or more.

See at a glance more than 8 percent return on FD

• Punjab National Bank – Super Senior Citizens get 8.05% return on 666 days FD.
• Axis Bank – Senior citizens get 8.01% interest on FDs of less than 2 years to 30 months.
• DCB Bank – Senior citizens get 8.35% return on FDs ranging from 700 days to less than 36 months. 
• IDFC First Bank – In this bank, senior citizens are being given 8% return on FDs of 18 months – 1 day – 3 years.
• Yes Bank – In this bank, senior citizens get 8% interest on 25-month FD and 8.25% interest on 35-month special FD.
• In the same private banks HDFC Bank and ICICI Bank, senior citizens are getting 7.50 percent returns. 
• In Canara Bank , senior citizens are getting 7.65 percent interest on 444 days FD. 

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Though banks are in a race to increase the interest rates and pass on the benefits to the customers, there are only a few banks which are offering the highest interest rates to senior citizens. Today we are going to tell you about such banks which are earning 8% or more to senior citizens.

These banks are getting more than 8 percent returns

1. Axis Bank gives 8.01% interest to senior citizens on FDs of 2 years to less than 30 months.
2. Punjab National Bank is giving 8.05% return to super senior citizens on 666 days FD.
3. DCB is giving 8.35% return to senior citizens on FDs ranging from 700 days to less than 36 months. The bank is paying 8 percent interest on FDs of less than 700 days from 18 months.
4. IDFC First Bank is offering 8% return on FDs of 18 months – 1 day – 3 years to senior citizens.
5. Yes Bank gives 8 percent interest rate to senior citizens on FD of 25 months and the bank gives 8.25 percent interest on 35 months special FD.
6. Other big banks like HDFC Bank and ICICI Bank offer 7.50% returns to senior citizens.
7. Canara Bank gives 7.65% interest on 444 days FD to senior citizens.

who is a senior citizen

An Indian who is 60 years or more but less than 80 years of age at any time during the previous year is considered as a senior citizen. A super senior citizen is one whose age is 80 years or more.

TDS on Senior Citizen FD

Banks will deduct TDS at the rate of 10% and 20% if neither PAN nor Form 15G and 15H are submitted. For senior adults aged 60 years and above, the annual maximum for FD interest income is Rs 50,000; After that, banks levy 10 per cent TDS.

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5th December. According to the bank’s website, the bank has increased the interest rates on FDs ranging from Rs 5 crore to Rs 10 crore (FD Rate Hike). Now the bank will give 4.65 to 6.30 percent interest on fixed deposits maturing in 7 days to 10 years.

The bank will now pay 4.65% interest on FDs maturing in 7 days to 14 days from Rs 5 crore to less than Rs 10 crore. 5% interest will be given on FDs maturing in 15 days to 45 days. FDs maturing in 46 days to 6 months will get interest at the annual rate of 6.00%. The bank will now pay 6.35 percent interest on deposits maturing in 6 months to 9 months.

Now you will get this much interest

Axis Bank will get 6.40% interest on FDs maturing in 9 months to 1 year and 7.00% interest on FDs maturing in 1 year to 13 months. The bank will now pay interest at the rate of 6.80 per cent per annum on FDs maturing in 13 months to 3 years. Customers will get 6.30 percent interest on FDs maturing in 3 years to 10 years.

Interest rate on non-callable FDs also increased

Axis Bank has revised the interest rates on non-callable FDs. Non-callable FDs are those FDs, which cannot be broken before maturity. FDs maturing in 30 days to 45 days from Rs 2 crore to less than Rs 5 crore will now pay interest at the rate of 5.00 per cent. 6.00% interest will be available on FDs maturing in 46 days to 3 months and 6.30% interest on deposits maturing in 3 months to 6 months. Now customers will get interest at the rate of 6.55 percent on fixed deposits maturing in 6 months to 9 months.

Axis Bank has announced an interest rate of 6.80 per cent on FDs maturing in a period of 9 months to 1 year. Similarly, 7.20 per cent on FDs maturing in less than 1 year to 1 year 5 days, 7 per cent on FDs maturing in 1 year 5 days to 3 years and 6.80 per cent on FDs maturing in 3 years to 10 years. Will get percent interest.

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After this, now this bank has completely gone into private hands. This block deal of Axis Bank through OFS has happened on 10 and 11 November. Soon after this, Axis Bank has given good news to its customers by increasing the interest rate.

FD interest rate increased for the second time in November

Bank has increased the interest rates on FD for the second time in the month of November. The new interest rates available on Axis Bank’s FD (Fixed Deposit Rate) have become effective from 15 November. Earlier, Axis Bank had increased the rate of FD on 5th November. This increase in interest rate has been done by Axis Bank on FDs of less than Rs 2 crore.

50 basis points more interest to senior citizens

Axis Bank is paying 6.40 percent interest rate on FDs maturing in 15 to 18 months and 6.50 percent interest on FDs maturing in 18 to 3 years. It was informed by Axis Bank that senior citizens will get 50 basis points additional interest. Earlier RBL Bank, CSB Bank, Kotak Mahindra Bank, Canara Bank, Indian Overseas Bank etc. have also increased the interest rate.

ICICI Bank also gave good news , apart from this, ICICI Bank has also increased the interest of 30 basis points on FDs up to Rs 2 crore. The new interest rates have been implemented by the bank from 16th November. 6.60 percent interest is being offered by the bank on FDs with different tenures ranging from 7 days to 10 years. Earlier, ICICI Bank had increased the interest rate by 50 basis points on 29 October.

After the current change, ICICI Bank (ICICI Bank) has increased the interest on FDs of 15 to 18 months from 6.10 percent to 6.40 percent. On FDs of 18 months to 24 months, only 6.40 percent interest will be available. Earlier it was 6.15 percent. The minimum interest rate from the bank is currently 3.50 percent and the maximum interest rate for senior citizens is 7.10 percent.

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After the increase in the repo rate by the RBI, the banks have also started increasing the interest rates. Apart from increasing the interest rate on loans, interest rates on bank deposits have also started increasing. Meanwhile, Axis Bank of the private sector of the private sector has increased the rates of interest on fixed deposits ie FD.

Axis Bank has increased the interest rates for FDs below Rs 2 crore. According to the bank’s website, the new rates have come into effect from November 5, 2022. The bank has increased the interest rates by up to 115 bps on deposits with maturities ranging from 46 days to 10 years. Axis Bank is now offering interest rates ranging from 3.50% to 6.50% for general public and 3.50% to 7.25% for senior citizens on deposits maturing in 7 days to 10 years. The maximum interest rate on deposits with maturity between 3 to 10 years will now be 7.25% for senior citizens and 6.50% for general public.

Axis Bank’s new FD rates

will continue to offer 3.50% interest rate on FDs maturing in 7 days to 45 days, but on deposits maturing in 46 days to 60 days, the bank has increased the interest rate from 3.50% to 4% have make. An interest rate of 4.50% will now be offered on deposits maturing in 61 days to 3 months. Interest rate of 4.50% will now be given on deposits maturing in 3 months to 6 months. Axis Bank has increased the interest rate on deposits maturing in 6 months to 9 months from 50 bps to 5.50% and on deposits maturing in 9 months to 1 year by 75 bps to 5.75%.

RBI has increased the repo rate

for the fourth time in a row. Now the repo rate has reached 5.90 percent. In the MPC meeting of RBI on September 30, it has been decided that the repo rate will be increased by 0.50 percent for the fourth consecutive time. Now the repo rate has been increased from 5.40 percent to 5.90 percent. Earlier, after 0.40 per cent increase in May, there was an increase of 0.50-0.50 per cent in June and August.

Many banks have increased the rates of fixed deposits.

It is noteworthy that recently RBL Bank, Axis Bank, CSB Bank Ltd., Kotak Mahindra Bank, Canara Bank, Indian Overseas Bank etc. have also increased their FD rates. This process of increasing the rates has started after the increase in the repo rates by the RBI.

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Apart from this, IDFC First Bank, RBL Bank, Union Bank of India and Canara Bank are paying interest rates above 7% to customers on certain deposits. IDFC First Bank offers FDs ranging from 7 days to 10 years. Senior citizens get an extra 0.50 percent interest on these deposits. For fixed deposits maturing in 750 days, the bank pays an interest rate of 7.25% to general customers and 7.75% to senior citizens.

RBL Bank gives 7% interest to common customers on FDs maturing in 15 months. Senior citizens will get interest at the rate of 7.50% on this period.

Union Bank of India is a government bank, which has increased interest rates on FDs of less than ₹ 2 crore from October 17. After the new hike, the bank gives an interest of 3% to 7% on FDs maturing from 7 days to 10 years.

Canara Bank has prepared a special fixed deposit plan for a tenure of 666 days. According to this scheme, banks are giving interest at the rate of 7% to their general customers, whereas, senior citizens will get interest at the rate of 7.5%.

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Though tax saving plans are usually included in the 5-year fixed deposit scheme, there are other FD options available during this tenure. Yes Bank has the highest earning FD option, which offers an interest rate of 6.50 per cent per annum for a tenure of five years.

1. State Bank Of India (SBI)

For an investment tenure of 5 years, SBI pays 5.50 per cent per annum in interest to all holders of normal fixed deposits. Senior citizens charge interest at the rate of 6.30 per cent per annum for this period.

2. Axis Bank

Axis Bank, one of the other well-known and reputed banks in India, offers an interest rate of 5.75 per cent per annum for fixed deposits of 5 years. For older citizens, an interest rate of 6.50 per cent per annum is offered over an investment tenure of 5 years.

3. Yes Bank

Yes Bank is offering fixed deposits to the general public with an annual interest rate of 6.50 per cent for five-year terms. Yes Bank will pay the senior citizens at the rate of 7.25 per cent per annum. Investors have a choice between a standard fixed deposit and a tax-free FD of five years. The interest rate is same for both the FDs. Interest will be paid monthly or quarterly.

4. Citibank

Citibank offers fixed deposits with an interest rate of 3.50 per cent per annum for investments made over a period of five years. Citibank will give interest at the rate of 4.00 per cent per annum to older people. The amount invested is subject to the rates of Rs.2 crore. The bank also offers tax saving term deposit plans.

5. HDFC Bank

The rate of return on fixed deposits opened with HDFC Bank for a tenure of five years is 5.70 per cent per annum. The bank offers an interest rate of 6.20 per cent per annum to senior citizens.

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Charges are levied for using ATMs more than the permitted number of free monthly transactions. According to RBI in June last year, banks were allowed to charge ₹21 per transaction at ATMs in excess of the monthly free transaction limit with effect from January 1, 2022. Earlier, banks could charge 20 for each such transaction.

Customers are allowed five free transactions every month and there is a limit of only three free transactions for withdrawing money from other bank ATMs. Customers in non-metro centers can avail up to five free transactions at other bank’s ATMs.

Below is the information about all the big banks…

State Bank of India
SBI one of the top commercial banks in India offers three free ATM withdrawals in metro cities and five in rest areas. Thereafter, there is a fee of Rs 5 for transactions and Rs 10 for withdrawals from non-SBI ATMs.

Punjab National Bank
PNB offers three free ATM withdrawals in major cities and five free withdrawals in most other locations similar to SBI. After that the bank charges Rs 10 on ATM withdrawals.

HDFC Bank
In India, HDFC Bank offers five free transactions in total and three free transactions in important cities. The bank charges Rs 125 for international ATM transactions.

ICICI Bank
ICICI Bank follows the same rules 3 and 5 as other banks in terms of free withdrawals. Withdrawals from ATMs are subject to additional bank charges of Rs 21.

Axis Bank
Axis Bank also has the same formula 3 and 5 provides the rule. After that, the bank charges a 21% withdrawal fee.

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A depositor can choose the FD tenure in Axis Bank from a minimum tenure of 7 days to a maximum of 10 years. The rates on bulk FDs have also been increased from Rs 2 crore to Rs 100 crore and above.

Increase in FD of general category-

Axis Bank’s highest rate for general category on FDs below Rs 2 crore is 5.75 per cent for 1 year 11 days to 1 year 25 days, and 5 years to 10 years.

It is offering 5.70 per cent rate on FDs with tenures ranging from 2 years to less than 5 years. The FD rate from 1 year 25 days to less than 2 years is 5.60 percent. The rate is 5.45 per cent on tenure of 1 year and 11 days less than one year. Apart from this, the FD rate of 9 months to less than 1 year is 4.75 percent.

The interest rate on FDs ranging from 6 months to less than 9 months is 4.65 percent, while on FDs of 3 months to less than 6 months, the interest rate is 3.75 percent. On FDs ranging from 30 days to less than 3 months, the rate is 3.25 per cent, and the rate is 2.75 per cent on tenures of 7 days to 29 days.

FD rate for senior citizens-

On FDs below Rs 2 crore, the bank is offering the highest interest rate of 6.50 per cent on tenures of 1 year 11 days to 1 year 25 days, and 5 years to 10 years. The rate for 2 years to less than 5 years is 6.45 per cent. In addition, the rate is 6.35 per cent for tenures ranging from 1 year 25 days to less than 2 years.

Axis Bank is offering 6.20 per cent rate on FDs of less than 1 year and 11 days, while interest rate on FDs of 9 months to less than 1 year is 5 per cent.

The interest rate on FDs from 6 months to less than 9 months is 4.90 percent. Apart from this, 3.75 percent interest is being given on FDs ranging from 3 months to less than 6 months.

The rate on FDs ranging from 30 days to less than 3 months is 3.25 percent. Axis Bank is offering 2.75 percent interest rate on the smallest FD from 7 days to 29 days.

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Private bank Axis Bank once again increased the interest rates on fixed deposits on Friday, September 9, 2022. Under the new hike, the interest rate on domestic FDs within 2 crores is increasing. This is the second hike by the bank in a week. The bank has said in an official announcement that there has been an increase of 25 basis points on FDs with maturity period from seven days to six months.

These new rates have come into effect from September 9. All these interest rates will be applicable on Regular Deposit and Senior Deposit equally.

what are the new rates

• The bank is giving interest from 2.75 percent on fixed deposits with maturity period of seven to 29 days.
• The bank is giving 3.25 percent interest on FDs with maturity period of 30 days to three months.
• 3.75 percent interest is available on FDs with maturity from three months to six months.

The interest rates of the bank on the maturity above this are as follows-

• 4.65 per cent at 6-7 months and 4.40 per cent at 7-8 months. 4.9 per cent for the first term for senior citizens and 4.46 per cent for the second term.
•  4.65 percent for regular customers and 4.9 percent for senior citizens for 8-9 months.
• 4.75 percent for regular customers and 5 percent for senior citizens for 9 months to 1 year.
• 5.45 percent for regular customers and 6.20 percent for senior citizens on FDs with maturity of 1 year to 1 year 11 days.
• 5.75 percent for regular customers and 6.50 percent for senior citizens on FDs with maturity period of 1 year 11 days to 1 year 25 days.
• Between 1 year to 2 years, 6.35 percent to regular customers and 5.60 percent to senior citizens.
• Between 2 to 5 years, the bank is giving 5.70 percent to regular customers and 6.45 percent to senior citizens.
• On FDs with maturity period of 5 to 10 years, the bank is giving 5.75% interest to regular customers and 6.50% to senior citizens.

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Significantly, after the increase in the repo rate, many banks and financial institutions have increased the interest rates on FDs significantly. This includes from PNB to ICICI Bank. Recently Canara Bank also increased the interest rates of its FD.

See Axis Bank’s new interest rates

Bank offers 2.50% interest rate on FDs maturing in 7 days to 29 days and the bank is offering 3% interest rate on FDs maturing in 30 days to 3 months . Depositors will now get an interest rate of 3.50% on FDs maturing in 3 months to 6 months and 4.65% on FDs maturing in 6 months to 7 months. 

Axis Bank is offering an interest rate of 4.40% on FDs maturing in 7 months to 8 months. Deposits maturing in 8 months to 9 months will continue to get an interest rate of 4.65% and deposits maturing in 9 months to 1 year will continue to get an interest rate of 4.75%.

Other Interest Rates

Axis Bank will continue to offer 5.45% interest rate on FDs maturing in 1 year to 1 year 11 days and the bank will continue to offer 5.75% interest rate on FDs maturing in 1 year 11 days to 1 year 25 . FDs maturing in 1 year 25 days to 2 years will continue to offer an interest rate of 5.60%. At the same time, FDs maturing in 2 years to 5 years will now get an interest rate of 5.70%. Axis Bank will now pay an interest of 5.75% on FDs maturing in 5 years to 10 years. Significantly, the bank is giving additional interest to senior citizens. The bank has said that senior citizens will get interest ranging from 2.50 percent to 6.50 percent.

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