Bank FD: Interest rates on fixed deposits have been increasing since the Reserve Bank of India increased the repo rate this year. In this episode, Axis Bank has increased its FD rate.
New Delhi. Axis Bank has increased the interest rates of its Bulk Fixed Deposit (Axis Bank FD Rate). The increased interest rates have come into effect from today i.e. 5th December. According to the bank’s website, the bank has increased the interest rates on FDs ranging from Rs 5 crore to Rs 10 crore (FD Rate Hike). Now the bank will give 4.65 to 6.30 percent interest on fixed deposits maturing in 7 days to 10 years.
The bank will now pay 4.65% interest on FDs maturing in 7 days to 14 days from Rs 5 crore to less than Rs 10 crore. 5% interest will be given on FDs maturing in 15 days to 45 days. FDs maturing in 46 days to 6 months will get interest at the annual rate of 6.00%. The bank will now pay 6.35 percent interest on deposits maturing in 6 months to 9 months.
Now you will get this much interest
Axis Bank will get 6.40% interest on FDs maturing in 9 months to 1 year and 7.00% interest on FDs maturing in 1 year to 13 months. The bank will now pay interest at the rate of 6.80 per cent per annum on FDs maturing in 13 months to 3 years. Customers will get 6.30 percent interest on FDs maturing in 3 years to 10 years.
Interest rate on non-callable FDs also increased
Axis Bank has revised the interest rates on non-callable FDs. Non-callable FDs are those FDs, which cannot be broken before maturity. FDs maturing in 30 days to 45 days from Rs 2 crore to less than Rs 5 crore will now pay interest at the rate of 5.00 per cent. 6.00% interest will be available on FDs maturing in 46 days to 3 months and 6.30% interest on deposits maturing in 3 months to 6 months. Now customers will get interest at the rate of 6.55 percent on fixed deposits maturing in 6 months to 9 months.
Axis Bank has announced an interest rate of 6.80 per cent on FDs maturing in a period of 9 months to 1 year. Similarly, 7.20 per cent on FDs maturing in less than 1 year to 1 year 5 days, 7 per cent on FDs maturing in 1 year 5 days to 3 years and 6.80 per cent on FDs maturing in 3 years to 10 years. Will get percent interest.
