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Axis Bank New Fixed Deposit Rates: Up to 6.5% Interest for Elderly. Check FD Rates

Axis Bank has revised interest rates on fixed deposits (FD) ranging from 7 days to 10 years

Axis Bank has revised interest rates on fixed deposits (FD) ranging from 7 days to 10 years

The lender offers a higher rate to senior citizens on select maturities. They will get an interest rate ranging from 2.5 per cent to 6.50 per cent

Axis Bank has revised interest rates on fixed deposits (FD) ranging from 7 days to 10 years. The new interest rates will be effective from August 14. Axis Bank will offer an interest rate of 2.5 per cent for FDs with maturity between 7 days to 29 days. For FDs maturing between 30 days to 3 months, the interest rate will be 3 per cent. The bank will offer 3.5 per cent interest rates for FDs maturing between 3 months to 6 months. FDs maturing between 6 months to 1 year will fetch an interest of 4.40 per cent. For fixed deposits maturing between 1 year to 18 months, the interest rate will be 5.10 per cent. However, fixed deposits maturing from 1 year 5 days to 1 year 11 days, the interest rate will be 5.15 per cent. Banks will offer an interest rate of 5.25 per cent for FDs maturing between 18 months to 2 years. For fixed deposits maturing between 2 years to 3 years, there will be an interest rate of 5.50 per cent. Long term fixed deposits maturing in 3 years to 5 years, the interest will be 5.40 per cent. For deposits maturing in 5 years to 10 year, the interest rate has been fixed at 5.75 per cent.

Axis Bank latest FD interest rates for general public with effect from August 14: 

7 days to 14 days 2.50 per cent

15 days to 29 days 2.50 per cent

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30 days to 45 days 3.00 per cent

46 days to 60 days 3.00 per cent

61 days < 3 months 3.00 per cent

3 months < 4 months 3.50 per cent

4 months < 5 months 3.50 per cent

5 months < 6 months 3.50 per cent

6 months < 7 months 4.40 per cent

7 months < 8 months 4.40 per cent

8 months < 9 months 4.40 per cent

9 months < 10 months 4.40 per cent

10 months < 11 months 4.40 per cent

11 months < 11 months 25 days 4.40 per cent

11 months 25 days < 1 year 4.40 per cent

1 year < 1 year 5 days 5.10 per cent

1 year 5 days < 1 year 11 days 5.15 per cent

1 year 11 days < 1 year 25 days 5.10 per cent

1 year 25 days < 13 months 5.10 per cent

13 months < 14 months 5.10 per cent

14 months < 15 months 5.10 per cent

15 months < 16 months 5.10 per cent

16 months < 17 months 5.10 per cent

17 months < 18 months 5.10 per cent

18 months < 2 years 5.25 per cent

2 years < 30 months 5.50 per cent

30 months < 3 years 5.50 per cent

3 years < 5 years 5.40 per cent

5 years to 10 years 5.75 per cent

Fixed Deposits for Senior Citizens

The lender offers a higher rate to senior citizens on select maturities. Senior citizens will get an interest rate ranging from 2.5 per cent to 6.50 per cent on deposits maturing in 7 days to 10 years. It must be noted that the above mentioned interest rates are applicable for the fixed deposits of up to Rs 2 crore.

Axis Bank earlier increased various charges for its savings bank account and salary account holders, starting from May 1. From May 1, the Axis Bank customers need to maintain a monthly balance of Rs 15,000. If customers are unable to maintain the monthly balance limit, the bank will levy a penalty of Rs 10 per Rs 100 of the shortfall. The non-maintenance of monthly minimum balance charges will be in the range of Rs 50 to Rs 800, the lender said.

The private sector bank allows four free transactions or cash withdrawal of Rs 2 lakh in a month, whichever is earlier. Once the limit is over, the customer has to pay Rs 10 per Rs 1,000 withdrawn or Rs 150, whichever is higher.

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first published:August 17, 2021, 13:07 IST