Axis bank has raised its interest rates on fixed deposits for various tenures. As per the official website of Axis bank, the new rates will come into effect from May 12. The bank offers term deposits ranging from seven days to 10 years. After the interest hike, Axis Bank will pay interest rates in the range of 2.5 percent to 5.75 percent across various FD tenures and 2.50 percent to 6.50 percent interest across various FD tenures for senior citizens.
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The interest rates have been hiked above the tenure of 9 months. Following the interest hike, for tenure from 9 months to less than one year, Axis bank has increased the rate to 4.75 percent from 4.40 percent. For fixed deposit ranging from one year to 15 months, the interest rate has been raised to 5.25 percent. For fixed deposit tenure ranging from 15 months to less than 2 years, the bank is now offering 5.30 percent. For fixed deposits of tenures from 2 years to less than 5 years, the bank is offering 5.60 percent to regular individuals. While fixed deposits maturing between 5-10 years will earn an interest rate of 5.75 percent.
Here are the revised FD interest rates offered by Axis Bank on FDs below Rs. 2 Cr for normal and senior citizens.
| Tenure | Interest Rate for all citizens | Interest rate for senior citizens |
| 7 days to 14 days | 2.50 percent | 2.50 percent |
| 15 days to 29 days | 2.50 percent | 2.50 percent |
| 30 days to 45 days | 3.00 percent | 3.00 percent |
| 46 days to 60 days | 3.00 percent | 3.00 percent |
| 61 days to less than 3 months | 3.00 percent | 3.00 percent |
| 3 months to less than 4 months | 3.50 percent | 3.50 percent |
| 4 months to less than 5 months | 3.50 percent | 3.50 percent |
| 5 months to less than 6 months | 3.50 percent | 3.50 percent |
| 6 months to less than 7 months | 4.40 percent | 4.65 percent |
| 7 months to less than 8 months | 4.40 percent | 4.65 percent |
| 8 months to less than 9 months | 4.40 percent | 4.65 percent |
| 9 months to less than 10 months | 4.75 percent | 5.00 percent |
| 10 months to less than 11 months | 4.75 percent | 5.00 percent |
| 11 months to less than 11 months 25 days | 4.75 percent | 5.00 percent |
| 11 months 25 days to less than 1 year | 4.75 percent | 5.00 percent |
| 1 year to less than 1 year 5 days | 5.25 percent | 5.90 percent |
| 1 year 5 days to less than 1 year 11 days | 5.25 percent | 5.90 percent |
| 1 year 11 days to less than 1 year 25 days | 5.25 percent | 5.90 percent |
| 1 year 25 days to less than 13 months | 5.25 percent | 5.90 percent |
| 13 months to less than 14 months | 5.25 percent | 5.90 percent |
| 14 months to less than 15 months | 5.25 percent | 5.90 percent |
| 15 months to less than 16 months | 5.30 percent | 5.95 percent |
| 16 months to less than 17 months | 5.30 percent | 5.95 percent |
| 17 months to less than 18 months | 5.30 percent | 5.95 percent |
| 18 months to less than 2 years | 5.30 percent | 5.95 percent |
| 2 years to less than 30 months | 5.60 percent | 6.25 percent |
| 30 months to less than 3 years | 5.60 percent | 6.25 percent |
| 3 years to 5 years | 5.60 percent | 6.25 percent |
| 5 years to 10 years | 5.75 percent | 6.50 percent |
(Edited by : Sudarsanan Mani)
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