Recently, many public and private banks in the country have increased interest rates on fixed deposits. In this case, Axis Bank was walking on the opposite side. Axis Bank has reduced the interest rate on Fixed Deposits. The private bank has cut interest rates by 20 basis points. This new interest rate is effective from today.
Axis Bank offers 3.5 per cent to 7.10 per cent interest for 7 days to 10 years after interest rate hike. The bank has cut interest rates by 5 basis points on fixed deposits of 1 year and 4 days from 1 year. Axis Bank has also reduced the interest rate on fixed deposits between 1 year 5 days and 13 months by 20 basis points. Find out the interest rates on fixed deposits of different tenures of this bank.
Axis Bank Interest Rates on Fixed Deposits of Different Tenures:
7 days to 45 days – 3.50 percent interest for general customers
46 to 60 days – 4 percent interest for general customers
61 days to 3 months – 4.50 percent interest for general customers
3 months to 6 months – 4.75 percent interest for general customers
6 months to 9 months – 5.75 percent for general customers, 7.25 percent for senior citizens
For period from 9 months to 1 year – 6 percent for general citizens
1 year to 1 year 4 days – 6.75 percent for general citizens
1 year 5 days to 13 months – 6.80 percent for general citizens
Fixed deposits of 13 months to less than 2 years – 7.10 percent
7.05 per cent for fixed deposits with tenure of less than 2 years to 30 months
Axis Bank Fixed Deposit Interest Rate for Senior Citizens:
Axis Bank offers 3.50% to 7.85% interest on fixed deposits for senior citizens for tenure of 7 days to 10 years.