Axis Bank revises interest rates on fixed deposits of less than ₹2 Cr

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Axis Bank, a private sector lender, has revised interest rates on fixed deposits under 2 crore. The new rates are in effect as of today, September 7, 2022, according to the official website. After the adjustment, the bank is now offering fixed deposits with maturities ranging from 7 days to 10 years with interest rates ranging from 2.50% to 5.75% for the general public and 2.50% to 6.50% for senior citizens.

Axis Bank FD Rates

On fixed deposits maturing in 7 days to 29 days, the bank offers an interest rate of 2.50% and on term deposits maturing in 30 days to 3 months, the bank is offering an interest rate of 3%. Fixed deposits maturing in 3 months to 6 months will offer an interest rate of 3.50% and term deposits maturing in 6 months to 7 months will now fetch an interest rate of 4.65%. Axis Bank is offering an interest rate of 4.40% on fixed deposits maturing in 7 months to 8 months. Deposits maturing in 8 months to 9 months will continue to fetch an interest rate of 4.65% and deposits maturing in 9 months to 1 year will continue to fetch an interest rate of 4.75%.

Axis Bank will continue to fetch an interest rate of 5.45% on fixed deposits maturing in 1 year to 1 year 11 days and the bank will continue to promise an interest rate of 5.75% on fixed deposits maturing in 1 year 11 days to 1 year 25 days. Fixed deposits maturing in 1 year 25 days to 2 years will continue to offer an interest rate of 5.60% and fixed deposits maturing in 2 years to 5 years will now fetch an interest rate of 5.70%. Axis Bank is now offering an interest rate of 5.75% on fixed deposits maturing in 5 years to 10 years.

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Axis Bank FD Rates (axisbank.com)

Axis Bank FD Rates For Senior Citizens

On fixed deposits maturing in 7 days to 10 years, senior citizens will now get an interest rate ranging from 2.50% to 6.50%. Fixed deposits maturing in 5 years to 10 years will now fetch a maximum interest rate of 6.50% for senior citizens.

Axis Bank FD Rates

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Axis Bank FD Rates (axisbank.com)

“In the case of Axis Bank, the minimum amount required to open an FD account is 5000 if done through internet banking or a mobile app and 10,000 if done through a bank branch,” said the bank on its website.

“FDs can be prematurely withdrawn apart from “Fixed Deposit Plus”. Interest rate shall be 1% below the card rate prevailing as on the date of deposit, as applicable for the period the deposit has remained with the bank or 1% below the contracted rate, whichever is lower,” said Axis Bank on its website.

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