Axis Bank increased interest rates
Axis Bank, one of the private sector banks, has increased the interest rates on deposits below Rs 2 crore. According to the bank’s website, the new interest rates will be applicable from January 10, 2023. Bank is getting interest rate ranging from 3.5% to 7.00% on deposits from 7 days to 10 years and senior citizens are getting the benefit of interest rate ranging from 3.5% to 7.75%. The bank is getting the benefit of maximum 8.01% interest rate.
Getting this much interest rate
The Bank offers interest rate of 3.50% for deposits maturing in 7 days to 45 days, 4.00% for deposits maturing in 46 days to 60 days, 4.50% for deposits maturing in 61 days to three months, three months to six months 4.75% interest rate is available on the deposit.
5.75% interest rate on deposits maturing in 6 to 9 months, 6.00% interest rate on deposits maturing in 9 to 12 months, 6.75% interest rate on deposits maturing in 1 year to 1 year 24 days, 1 Interest rate of 7.10% for deposits maturing in years 25 days to 13 months, 6.75% for deposits maturing in 13 months to 2 years, maximum interest rate of 7.26% for deposits maturing in 2 years to 30 months rate and maturing in 30 months to 10 years will get an interest rate of 7%.
Whereas for senior citizens, the interest rate on deposits in 7 days to 10 years ranges from 3.50% to 7.75% and the highest interest rate is 8.01% for deposits.
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