Private sector lender Axis Bank has revised its interest rates for fixed deposits under Rs 2 crore, with effect from today i.e. September 7, 2022.
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After adjustment, the fixed deposits with maturities in the 7 days to 10 years range have an interest rates from 2.5 percent to 5.75 percent for the general category, whereas for senior citizens it is in the 2.5 percent to 6.5 percent range.
For fixed deposits maturing from seven to 29 days, the bank is offering 2.5 percent interest rate. For 30 days to 3 months, it is giving 3 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 | 2.50% |
| 30 days to 3 months | 3% |
| 3 months to 6 months | 3.50% |
| 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)
FD rates 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 | 2.50% |
| 30 days to 3 months | 3% |
| 3 months to 6 months | 3.50% |
| 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 | 5.00% |
| 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)
The minimum amount to open an FD account in Axis Bank is Rs 5,000 via internet banking or a mobile app and it is Rs 10,000 via a bank branch.
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