FD Update- If you also invest in FD and want to get better returns, then this news is for you. In fact, from today this bank has implemented new interest rates on FDs… read the full news to know the complete details related to the bank.
Latest Fixed Deposit Rates: Axis Bank has changed the interest rates of fixed deposits for amount less than Rs 2 crore. According to the website of Axis Bank, the new FD rates have become effective from today. The bank has cut the rate by 10 bps for a period. Axis Bank is providing FD rate of 3.50% to 7.10% per annum to the general public.
Latest FD rates of Axis Bank (New FD rates) –
The bank is guaranteeing an interest rate of 3.50% on fixed deposits maturing in 7 days to 45 days and 4% on maturing in 46 days to 60 days. For deposits with a tenure of 61 days to three months, the bank guarantees an interest rate of 4.50%, and for deposits with a tenure of three months to six months, Axis Bank promises an interest rate of 4.75%.
6.80% interest will be available for this period-
Deposits maturing in 6 to 9 months will get interest at the rate of 5.75%, and deposits maturing in 9 to 12 months will get interest at the rate of 6%. The bank is now offering an interest rate of 6.75% on fixed deposits maturing in 1 year to 1 year 4 days, while Axis Bank is also offering an interest rate of 6.80% on deposits maturing in 1 year 5 days to 13 months.
More than 7 percent return-
Axis Bank is now giving an interest rate of 7.10 percent on deposits ranging from 13 months to two years. However, the bank has reduced the tenor from 16 months to less than 17 months by 10 bps from 7.20% to 7.10%. The bank is now offering an interest rate of 7.05% on deposits between two years and 30 months. The interest rate on FDs with maturity between 30 months to 10 years is now 7%.
Senior citizens will get more benefits-
Be aware that Axis Bank’s latest FD rates have become effective from July 26 for senior citizens as well. Now Axis Bank is providing FD rates of 3.50% to 7.85% per annum to senior citizens.
