Axis Bank has hiked interest rates on fixed deposit (FD) by up to 40 basis points (bps) on select tenors on deposits below Rs 2 crore. The latest interest rates have become effective from March 10, 2023. The lender has also hiked the interest rates in the recent past also as the RBI has increased the key repo rate by 225 bps to contain inflation.
According to Axis Bank’s website, the lender has hiked interest rate on FD maturing between 13 months and less than two years by 40 basis points from 6.75 per cent to 7.15 per cent. On deposits with maturities between 2 years and 30 months, the interest rate offered by the bank is the highest at 7.26 per cent.
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Here are the revised interest rates on fixed deposits below Rs 2 crore at Axis Bank from March 10, 2023:
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 per cent 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 per cent for Senior Citizens
9 months to less than 10 months: 6.00 per cent for General Public; 6.25 per cent for Senior Citizens
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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 per cent 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: 6.75 per cent for General Public; 7.50 per cent for Senior Citizens
1 year 11 days to less than 1 year 24 days: 6.75 per cent for General Public; 7.50 per cent for Senior Citizens
1 year 25 days to less than 13 months: 7.10 per cent for General Public; 7.85 per cent for Senior Citizens
13 months to less than 14 months: 7.15 per cent for General Public; 7.90 per cent for Senior Citizens
14 months to less than 15 months: 7.15 per cent for General Public; 7.90 per cent for Senior Citizens
15 months to less than 16 months: 7.15 per cent for General Public; 7.90 per cent for Senior Citizens
16 months to less than 17 months: 7.15 per cent for General Public; 7.90 per cent for Senior Citizens
17 months to less than 18 months: 7.15 per cent for General Public; 7.90 per cent for Senior Citizens
18 months to less than 2 years: 7.15 per cent for General Public; 7.90 per cent for Senior Citizens
2 years to less than 30 months: 7.26 per cent for General Public; 8.01 per cent for Senior Citizens
30 months to less than 3 years: 7.00 per cent for General Public; 7.75 per cent for Senior Citizens
3 years to less than 5 years: 7.00 per cent for General Public; 7.75 per cent for Senior Citizens
5 years to 10 years: 7.00 per cent for General Public; 7.75 per cent for Senior Citizens.
