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With effect from June 1, Axis Bank interest rates have been revised on fixed deposits in domestic and NRI (non-resident Indian) category. Earlier this week, the largest lender in the country, State Bank of India (SBI) had increased its interest rates effective from 28 May.
As the third largest private sector bank in India, Axis offers a variety of financial products to its customers.
The latest interest (in percentage) applicable on domestic fixed deposits less than 5 crores made at Axis Bank:
| Period | Less than Rs 1 crore | Rs 1 crore |
|---|---|---|
| 7 days to 14 days | 3.50 | 5.50 |
| 15 days to 29 days | 3.50 | 5.50 |
| 30 days to 45 days | 5.50 | 6.00 |
| 46 days to 60 days | 6.00 | 6.30 |
| 61 days | 6.00 | 6.50 |
| 3 months | 6.00 | 6.75 |
| 4 months | 6.00 | 6.75 |
| 5 months | 6.00 | 6.75 |
| 6 months | 6.25 | 6.90 |
| 7 months | 6.25 | 6.90 |
| 8 months | 6.25 | 6.90 |
| 9 months | 6.50 | 6.90 |
| 10 months | 6.50 | 6.90 |
| 11 months | 6.50 | 6.90 |
| 1 year | 7.10 | 7.30 |
| 12 months 5 days | 7.40 | 7.60 |
| 12 months 11 days | 7.10 | 7.30 |
| 13 months | 7.10 | 7.30 |
| 14 months | 7.00 | 7.25 |
| 15 months | 7.00 | 7.25 |
| 16 months | 7.00 | 7.25 |
| 17 months | 7.00 | 7.25 |
| 18 Months | 7.00 | 7.25 |
| 2 years | 7.00 | 7.25 |
| 30 months | 7.00 | 7.25 |
| 3 years | 7.00 | 7.00 |
| 5 years to 10 years | 7.00 | 7.00 |
The private bank also offers fixed deposit "plus" facility, where the deposits made are over Rs 15 lakhs and there is no premature withdrawal allowed on them. With effective from 1 June, interest rates (in percentage) on fixed deposit plus are:
| Period | > Rs 15 Lakhs | Rs 1 crore |
|---|---|---|
| 7 days to 14 days | 3.50 | 5.50 |
| 15 days to 29 days | 3.50 | 5.50 |
| 30 days to 45 days | 5.50 | 6.00 |
| 46 days to 60 days | 6.00 | 6.30 |
| 61 days | 6.00 | 6.50 |
| 3 months | 6.00 | 6.75 |
| 4 months | 6.00 | 6.75 |
| 5 months | 6.00 | 6.75 |
| 6 months | 6.25 | 6.90 |
| 7 months | 6.25 | 6.90 |
| 8 months | 6.25 | 6.90 |
| 9 months | 6.50 | 6.90 |
| 10 months | 6.50 | 6.90 |
| 11 months | 6.50 | 6.90 |
| 1 year | 7.10 | 7.30 |
| 12 months 5 days | 7.40 | 7.60 |
| 12 months 11 days | 7.10 | 7.30 |
| 13 months | 7.10 | 7.30 |
| 14 months | 7.00 | 7.25 |
| 15 months | 7.00 | 7.25 |
| 16 months | 7.00 | 7.25 |
| 17 months | 7.00 | 7.25 |
| 18 Months | 7.00 | 7.25 |
| 2 years | 7.00 | 7.25 |
| 30 months | 7.00 | 7.25 |
| 3 years | 7.00 | 7.00 |
| 5 years to 10 years | 7.00 | 7.00 |
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