Axis Bank has revised upward interest rates by up to 75 basis points (bps) on fixed deposits (FD). The latest interest rates have become effective Friday (October 14). The bank has hiked FD interest rates on the term maturing in 7 days to 29 days by 75 bps, from 2.75 per cent to 3.50 per cent, and the interest rate on fixed deposits maturing in 30 days to 60 days to 3.50 per cent from 3.25 per cent.
On fixed deposits maturing in 61 days to less than 3 months, the interest rate has been increased to 4 per cent, from 3.25 per cent. On FD for 3-6 months, the interest rate has been increased to 4.25 per cent, compared with 3.75 per cent earlier. The bank is now offering 5 per cent interest rate on fixed deposits maturing in 6 months to less than one year, and 6.10 per cent on fixed deposits maturing in one year to 15 months.
The rate hike by Axis Bank comes after the RBI’s Monetary Policy Committee has been raising the key repo rate and has raised 140 basis points in the past five months.
Here are the revised interest rates on fixed deposits below Rs 2 crore at the Axis Bank from October 14, 2022:
7 days to 14 days: 3.50 per cent for General Public; 3.50 per cent for Senior Citizens
15 days to 29 days: 3.50 per cent for General Public; 3.50 per cent for Senior Citizens
30 days to 45 days: 3.50 per cent for General Public; 3.50 per cent for Senior Citizens
46 days to 60 days: 3.50 per cent for General Public; 3.50 per cent for Senior Citizens
61 days to less than 3 months: 4.00 per cent for General Public; 4.00 per cent for Senior Citizens
3 months to less than 4 months: 4.25 per cent for General Public; 4.25 per cent for Senior Citizens
4 months to less than 5 months: 4.25 per cent for General Public; 4.25 per cent for Senior Citizens
5 months to less than 6 months: 4.25 per cent for General Public; 4.25 per cent for Senior Citizens
6 months to less than 7 months: 5.00 per cent for General Public; 5.25 per cent for Senior Citizens
7 months to less than 8 months: 5.00 per cent for General Public; 5.25 per cent for Senior Citizens
8 months to less than 9 months: 5.00 per cent for General Public; 5.25 per cent for Senior Citizens
9 months to less than 10 months: 5.00 per cent for General Public; 5.25 per cent for Senior Citizens
10 months to less than 11 months: 5.00 per cent for General Public; 5.25 per cent for Senior Citizens
11 months to less than 11 months 25 days: 5.00 per cent for General Public; 5.25 per cent for Senior Citizens
11 months 25 days to less than 1 year: 5.00 per cent for General Public; 5.25 per cent for Senior Citizens
1 year to less than 1 year 5 days: 6.10 per cent for General Public; 5.85 per cent for Senior Citizens
1 year 5 days to less than 1 year 11 days: 6.10 per cent for General Public; 5.85 per cent for Senior Citizens
1 year 11 days to less than 1 year 25 days: 6.10 per cent for General Public; 5.85 per cent for Senior Citizens
1 year 25 days to less than 13 months: 6.10 per cent for General Public; 5.85 per cent for Senior Citizens
13 months to less than 14 months: 6.10 per cent for General Public; 5.85 per cent for Senior Citizens
14 months to less than 15 months: 6.10 per cent for General Public; 5.85 per cent for Senior Citizens
15 months to less than 16 months: 6.15 per cent for General Public; 6.90 per cent for Senior Citizens
16 months to less than 17 months: 6.15 per cent for General Public; 6.90 per cent for Senior Citizens
17 months to less than 18 months: 6.15 per cent for General Public; 6.90 per cent for Senior Citizens
18 months to less than 2 years: 6.15 per cent for General Public; 6.90 per cent for Senior Citizens
2 years to less than 30 months: 6.20 per cent for General Public; 6.95 per cent for Senior Citizens
30 months to less than 3 years: 6.20 per cent for General Public; 6.95 per cent for Senior Citizens
3 years to less than 5 years: 6.10 per cent for General Public; 6.85 per cent for Senior Citizens
5 years to 10 years: 6.10 per cent for General Public; 6.85 per cent for Senior Citizens.
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