This bank has increased the interest rates on FDs of less than Rs 2 crore. The new rates are effective from today itself. The bank is offering interest ranging from 3.5 per cent to 7.20 per cent to common citizens.
Bank FD Rates: Fixed deposits are considered one of the better options for savings. In a way where State Bank of India (SBI) has increased the MCLR rate without changes in the repo rate. On the other hand, Axis Bank has increased the interest rates on FDs. The bank has increased the interest rate on FDs of less than Rs 2 crore. The new rates have become effective from 17th July i.e. today.
The bank is offering 3.5 per cent to 7.20 per cent interest on FDs ranging from 7 days to 10 years. 3.50% interest is being received on 7-14 days fixed deposit. The same interest rate is also available on FDs of 15-29 days and FDs of 30-45 days.
Common citizens are getting the highest interest on FDs ranging from 16 months to less than 17 months, the rates are 7.20%. At the same time, senior citizens are getting 7.90% interest on this tenure. The bank is offering 8.01% interest on FDs of less than 2 years to 30 months to senior citizens, the rate for common citizens is 7.05%.
On fixed deposits of 5 years to 10 years, common citizens are getting 7 percent and senior citizens are getting 7.75 percent interest. The interest rate for common citizens on deposits of 18 months to less than 2 years is 7.10 percent. And for senior citizens, the rates are 7.90 per cent.
The bank is offering 7 percent interest to common citizens and 7.75 percent interest to senior citizens on FDs of 3 years to less than 5 years. Equal interest is available on tenure ranging from 30 months to less than 3 years. The rates for FDs ranging from 1 year 25 days to less than 13 months are 6.80% for general citizens and 7.85% for senior citizens.
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