There is good news for those investing in fixed deposits (FD). Big private sector lender Axis Bank has changed the FD rates. Now customers will get interest up to 8%.
Large private sector lender Axis Bank has changed the interest rates on fixed deposits of less than Rs 2 crore. After this change in interest rates, Axis Bank will give 3.50% to 7.10% interest to its general customers on FD of 7 days to 10 years. Apart from this, Axis Bank will give 3.50% to 7.75% interest on FD of 7 days to 10 years to its senior citizen customers. According to the information received from the official website of the bank, the new interest rates will be applicable from December 26. Let us tell you that the country’s largest public sector lender State Bank of India (SBI) has also increased its interest rates on fixed deposits.
Axis Bank’s increased FD rates
After this change in interest rates, Axis Bank is offering 3% on FD of 7 days to 29 days, 3.50% on FD of 30 days to 45 days, 4.25% on FD of 46 days to 7 days, 61 days to less than 3 months. It is offering 4.50% interest on FD, 4.75% on FD of 3 months to 6 months, 5.75% on FD of 6 months to 9 months. At the same time, the bank is offering 6% interest on FDs of 9 months to less than 1 year and 6.70% interest on FDs of 1 year to less than 15 months.
SBI also increased FD rates
On the other hand, Axis Bank is offering 7.10% on FD of 15 months to less than 2 years, 7.10% on FD of 2 years to less than 3 years, 7.10% on FD of 3 years to less than 5 years and 7.10% on FD of 5 years to less than 5 years. It is giving 7% interest on FD up to 10 years. Let us tell you that SBI has also increased the FD rates today itself. After this increase in FD rates, SBI is giving 3.50 to 7 percent interest to its general customers on FD of 7 days to 10 years and 4 to 7.50 percent interest to its senior citizen customers.
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