Axis Bank has revised interest rates on fixed deposits (FDs) with effect from March 5. Axis Bank offers FDs across different tenures, ranging from 7 days to 10 years.
The bank will provide a maximum interest rate of 5.75 percent to the general public and 6.50 percent to senior citizens on deposits maturing in 5 to 10 years following a revision in the interest rates. These interest rates are beneficial for long-term investors since they also provide for tax savings under section 80C.
The bank has revised the interest rates for the second time since January this year.
According to the bank, for deposits less than Rs 2 crore, FDs with a term of one to two years will now earn between 5.10-5.25 percent, for those with a maturity term of two to less than five years will get 5.40 percent, and FDs with a tenure of 5 years and up to 10 years will earn 5.75 percent.
The bank has revised its FD rates for senior citizens too. According to the bank's website, senior citizens will receive interest rates ranging from 2.5 percent to 6.50 percent on FD deposits maturing in 7 days to 10 years for deposits less than Rs 2 crore.
Here is the list of new rates
| Period | Regular Interest Rates | Senior Citizens Interest Rate |
| | |
| 7 days to 14 days | 2.5 | 2.5 |
| 15 days to 29 days | 2.5 | 2.5 |
| 30 days to 45 days | 3 | 3 |
| 46 days to 60 days | 3 | 3 |
| 61 days | 3 | 3 |
| 3 months | 3.5 | 3.5 |
| 4 months | 3.5 | 3.5 |
| 5 months | 3.5 | 3.5 |
| 6 months | 4.4 | 4.65 |
| 7 months | 4.4 | 4.65 |
| 8 months | 4.4 | 4.65 |
| 9 months | 4.4 | 4.65 |
| 10 months | 4.4 | 4.65 |
| 11 months | 4.4 | 4.65 |
| 11 months 25 days | 4.4 | 4.65 |
| 1 year | 5.1 | 5.75 |
| 1 year 5 days | 5.15 | 5.8 |
| 1 year 11 days | 5.25 | 5.9 |
| 1 year 25 days | 5.15 | 5.8 |
| 13 months | 5.15 | 5.8 |
| 14 months | 5.15 | 5.8 |
| 15 months | 5.2 | 5.85 |
| 16 months | 5.2 | 5.85 |
| 17 months | 5.2 | 5.85 |
| 18 months | 5.25 | 5.9 |
| 2 years | 5.4 | 6.05 |
| 30 months | 5.4 | 6.05 |
| 3 years | 5.4 | 6.05 |
| 5 years to 10 years | 5.75 | 6.5 |
