Earlier, SBI (State Bank of India), Bank of Baroda, HDFC Bank, IndusInd Bank, IDBI Bank etc.
have also increased the interest rates for fixed deposits (FDs) with different maturity periods. The new rate of Axis Bank is effective from 21 March 2022.
Private sector Axis Bank has once again increased the interest rates on fixed deposits. However, this time this increase has been done for only one maturity period.
Axis Bank has increased the interest rate on FDs of less than Rs 2 crore for tenures ranging from ‘1 year 11 days to less than 1 year 25 days’. According to the information available on the bank’s website, the new rate is effective from March 21, 2022.
After the amendment, now the interest rate on FDs of less than Rs 2 crore in Axis Bank for a period of ‘1-year 11 days to less than 1 year 25 days’ has increased to 5.30 percent per annum.
Earlier this rate was 5.25 per cent per annum. The bank has not changed the interest rates on FDs for any other maturity period.
Interest rates on FDs below Rs 5 crore in Axis Bank
