Private sector lender Axis Bank has revised its interest rates for fixed deposits under Rs 2 crore, with effect from September 9, 2022.
In response to the change, the bank has raised interest rates across tenures.
For FDs with maturities ranging from seven days to six months, the bank has hiked its interest rates by 25 bps.
For fixed deposits maturing from seven to 29 days, the bank is offering a 2.75 percent interest rate. For 30 days to 3 months, it is giving 3.25 percent interest. For maturity of 9 months to 1 year, it is offering 4.75 percent interest. For two to five years, it is giving 5.7 percent, whereas for five to 10 years the interest rate is 5.75 percent.
| Tenure | Rate of Interest |
| 7 days to 29 days | 2.75% |
| 30 days to 3 months | 3.25% |
| 3 months to 6 months | 3.75% |
| 6 months to 7 months | 4.65% |
| 7 months to 8 months | 4.40% |
| 8 months to 9 months | 4.65% |
| 9 months to 1 year | 4.75% |
| 1 year to 1 year 11 days | 5.45% |
| 1 year 11 days to 1 year 25 days | 5.75% |
| 1 year 25 days to 2 years | 5.60% |
| 2 years to 5 years | 5.70% |
| 5 years to 10 years | 5.75% |
(Source: Axis Bank)
For senior citizens
For senior citizens, Axis Bank is offering the same interest rates for maturity period of up to 6 months. For nine months to one year, the interest rate is 5 percent, for two to five years it is 6.45 percent and for five years to 10 years it is 6.5 percent.
| Tenure | Rate of Interest |
| 7 days to 29 days | 2.75% |
| 30 days to 3 months | 3.25% |
| 3 months to 6 months | 3.75% |
| 6 months to 7 months | 4.90% |
| 7 months to 8 months | 4.65% |
| 8 months to 9 months | 4.90% |
| 9 months to 1 year | 5% |
| 1 year to 1 year 11 days | 6.20% |
| 1 year 11 days to 1 year 25 days | 6.50% |
| 1 year 25 days to 2 years | 6.35% |
| 2 years to 5 years | 6.45% |
| 5 years to 10 years | 6.50% |
(Source: Axis Bank)
