Axis Bank increases interest rate on FDs in this period

The bank increased interest rates on fixed deposits with maturities between 17 and less than 18 months after the revision.

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The Axis Bank raised interest rates on fixed deposits under 2 crore rupees. According to the bank’s official website, the higher interest rates take effect on August 11, 2022. The bank increased interest rates on fixed deposits with maturities between 17 and less than 18 months after the revision.

FD Rates at Axis Bank

The bank will continue to offer an interest rate of 2.50% on fixed deposits maturing in the next 7 days to 29 days and a rate of 3% on fixed deposits maturing in the next 30 days to 3 months.

Axis Bank will continue to offer an interest rate of 4.65% on term deposits maturing in the next 3 to 6 months and 4.40% on term deposits maturing in the next 7 months to 8 months. The interest rate on fixed deposits maturing in 8 months or 9 months will remain at 4.65%, and the interest rate on fixed deposits maturing in 9 months to 1 year will continue to offer an interest rate of 4.75%.

The bank will continue to offer an interest rate of 5.75% on term deposits maturing in 1 year 11 days to 1 year 25 days and 5.45% on fixed deposits maturing in 1 year to 1 year, 11 days. On fixed deposits with maturities ranging from 1 year 25 days to 17 months, Axis Bank will continue to offer an interest rate of 5.60%. The bank increased the interest rate on fixed deposits maturing in 18 months from 17 months, from 5.60% to 6.05%.

The bank will continue to provide fixed deposits with maturities between 18 months to 2 years at an interest rate of 5.60%. On fixed deposits maturing in 2 years to 5 years, the bank will continue to offer an interest rate of 5.70% and on fixed deposits maturing in 5 years to 10 years, the bank will continue to offer an interest rate of 5.75%.

Senior Citizen FDs

Senior citizens who use Axis Bank will receive the highest interest rate, 6.80%, on loans with terms of 17 to less than 18 months.

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