FD Alert! Axis Bank revises interest rate on fixed deposits, check latest rates

The new Axis Bank interest rates are applicable from January 20, 2022.

New Delhi: Following in the footsteps of HDFC and SBI Bank, Axis Bank has also changed the interest rates on fixed deposits. The new interest rates are applicable on FDs ranging from a tenure of 7 seven days to 10 years. The new interest rates are applicable from January 20, 2022. 

With the latest revision in fixed deposit rates, the private lender is providing an interest rate of 2.50% on term deposits with a maturity period of 7 to 30 days. Similarly, the interest rate of FDs with tenure of 30 days to less than 3 months will now attract an interest rate of 3%.

Fixed deposits ranging between 3 to 6 months will now get an interest rate of 3.5%. Also, the interest rate on fixed deposits with maturity in six months to 11 months 25 days has been changed to 4.40%.

Axis Bank will now offer an interest rate of 5.10% on fixed deposits maturing in 11 months 25 days to less than 1 year. Term deposits maturing in 1 year 5 days to fewer than 1 year 26 days will attract an interest of 5.25%, Mint reported. 

Axis Bank will continue offering 50 bps more interest to senior citizens opening a fixed deposit account with the private sector lender. Such investors will receive an interest ranging from 2.50% to 6.50% on term deposits with maturity periods ranging from 7 days to 10 years. 

The interest rates mentioned above are applicable on fixed deposits worth less than Rs 2 crore. Moreover, Axis Bank is offering an interest rate of 5.25% on fixed deposits maturing in 18 months to less than 2 years. Also Read: ZOOOK Dash Junior smartwatch for kids and teenagers launched at Rs 3,499

Also, on long term fixed deposits that will mature in 2 years to 30 years, customers can enjoy an interest rate of 5.40%. Also Read: Aadhaat PVC card from open market not valid, where and how to get official Aadhaar PVC card?