Axis Bank Interest Rates hiked: After the increase in repo rate by RBI, banks have started increasing the interest rate in deposits. Axis Bank has increased the interest rates on deposits and FDs.
Axis Bank FD Interest Rates Hiked:
In the monetary policy review by the Reserve Bank of India (RBI) recently, the rep rate was increased by 25 basis points. After this where home loan and car loan have become expensive. At the same time, the interest rates offered by the bank on FDs have started increasing. Axis Bank has announced an increase in the interest rates on Fixed Deposits (FD). This increase in FD interest rates has come into effect from today itself.
This much interest will be received on FD
According to the website of Axis Bank, it has been decided to increase the interest rates of less than two crore rupees. From one year to one year to 24 days, 6.75 percent interest will be available in FD. On the other hand, FDs maturing in one year, 25 days to 13 months will get an interest of 7.10 per cent. At the same time, 6.75 percent interest will be available in FDs from 13 months to two years. FDs from two years to 30 months will now get 7.26 percent interest. Axis Bank will give seven percent interest in FDs of 30 months to 10 years.
Senior citizens will get more interest
In fixed deposits maturing in six months to 10 years, senior citizens will get more interest than the common people. Axis Bank is paying 4% interest on deposits maturing in the next 46 days to 60 days. At the same time, interest will be available from 4.50 to 4.75 percent on deposits of 61 days to three months and three months to six months. At the same time, the deposit which matures from six months to nine months will get interest up to 5.75 percent. At the same time, up to six percent interest will be available in deposits maturing from nine months to 12 months.
Let us tell you that RBI has increased the repo rates to 6.50 percent. RBI Governor Shaktikanta Das said in the press conference that the condition of the economy is looking better in the global economy. There is less possibility of recession, but soft recession can still come in many countries.
