Axis Bank increases interest rates on FDs: Check new rates here

Private lender Axis Bank has increased interest rates on fixed deposits of less than Rs 2 crore, in accordance with the RBI's repo rate hike of 25 basis points to 6.50% on Wednesday. The new rates go into effect on February 11, 2023, according to the Axis Bank website.

Following the recent increase in FD rates, Axis Bank currently offers interest rates on deposits maturing in 7 days to 10 years ranging from 3.50% to 7.00% for the general public and 6.00% to 7.75% for senior citizens.

On fixed deposits that mature in the next 7 days to 45 days, the bank is now offering an interest rate of 3.50%, while Axis Bank is now offering an interest rate of 4.00% on deposits that mature in the following forty-six to sixty days. 

On deposits with maturities ranging from 61 days to three months and three months to six months, respectively, Axis Bank is now offering interest rates of 4.50% and 4.75%. 

Now, interest on deposits that mature in 6 to 9 months will be paid at a rate of 5.75%, while interest on deposits that mature in 9 to 12 months will be paid at a rate of 6.00%.

The bank is currently offering an interest rate of 6.75% on fixed deposits maturing in 1 year to 1 year and 24 days, and a rate of 7.10% on deposits maturing in 1 year and 25 days to 13 months. Now, interest will be paid on deposits with maturities between 13 months and two years at a rate of 6.75%, and on deposits with maturities between two years and thirty months at a rate of 7.26%.

On deposits with tenors ranging from 30 months to 10 years, Axis Bank is now offering an interest rate of 7.00%. Senior citizens will receive an additional interest rate over and beyond the usual rates on fixed deposits expiring in 6 months to 10 years.

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