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Axis Bank revised interest rates on fixed deposits offered by it to domestic and NRI (non-resident Indian) customers. The private lender offers deposit facilities for tenures between 7 days to 10 years. For NRIs, the minimum tenure for a term deposit is 1 year.
According to the bank's website, the new rates are effective from 10 July 2019. Here are top interest rates on FDs less than Rs 5 crores for domestic customers:
| Tenure | Deposits below Rs 2 crore | Rs 2 crore but less than Rs 4.91 crore | Rs 4.91 crore but less than Rs 4.92 crore | Rs 4.92 crore but less than Rs 5 crore |
|---|---|---|---|---|
| 1 year | 7.10% | 7.10% | 6.10% | 7.10% |
| 1 year 25 days | 7.20% | 7.20% | 6.20% | 7.20% |
| 13 months | 7.20% | 7.15% | 6.15% | 7.15% |
| 2 years | 7.30% | 7.30% | 6.15% | 7.00% |
| 5 years to 10 years | 7.00% | 7.30% | 6.50% | 7.00% |
Axis bank offers domestic fixed deposit plus, an FD scheme that offers slightly higher interest but requires a minimumm deposit of Rs 5 crore and there are no premature withdrawals allowed on these.
Here are some of the best interest rates on this category:
| Tenure | Rs 5 crore but less than Rs 10 crore | Rs 10 crore but less than Rs 25 crore | Rs 25 crore but less than Rs 50 crore | Rs 50 crore but less than Rs 100 crore |
|---|---|---|---|---|
| 9 months | 7.00% | 7.00% | 7.00% | 7.00% |
| 1 year | 7.25% | 7.25% | 7.25% | 7.25% |
| 14 months | 7.10% | 7.10% | 7.10% | 7.10% |
In the NRI deposits category, deposits have to made for a minimum of 1 year. Here are the best rates on Axis Bank NRI deposits less than Rs 5 crore:
| Tenure | Deposits below Rs 2 crore | Rs 2 crore but less than Rs 4.91 crore | Rs 4.91 crore but less than Rs 4.92 crore | Rs 4.92 crore but less than Rs 5 crore |
|---|---|---|---|---|
| 1 year | 7.10% | 7.10% | 6.10% | 7.10% |
| 1 year 25 days | 7.20% | 7.20% | 6.20% | 7.20% |
| 13 months | 7.20% | 7.15% | 6.15% | 7.15% |
| 2 years | 7.30% | 7.00% | 6.15% | 7.00% |
| 5 years to 10 years | 7.00% | 7.00% | 6.50% | 7.00% |
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