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Axis Bank Cuts FD Interest Rates For The Second Time This Month
Axis Bank revised its domestic fixed deposit interest rates with effect from 25 September. The previous revision was made on 9 September. The new rates are effective for select tenures ranging between 7 days and 10 years.
Here are the interest rates for the general public and senior citizens on deposits less than Rs 2 crore.
| Tenure | Previous interest rates (%) | W.E.F 25 Sept | Previous senior citizen interest rates (%) | W.E.F 25 Sept |
|---|---|---|---|---|
| 7 days to 14 days | 3.50 | 3.50 | 3.50 | 3.50 |
| 15 days to 29 days | 3.50 | 4.00 | 3.50 | 4.00 |
| 30 days to 45 days | 5.50 | 5.20 | 5.50 | 5.20 |
| 46 days to less than 3 months | 5.75 | 5.65 | 5.75 | 5.65 |
| 3 months to less than 5 months | 5.75 | 5.75 | 5.75 | 5.75 |
| 5 months to less than 6 months | 6.00 | 5.75 | 6.00 | 5.75 |
| 6 months to less than 9 months | 6.25 | 6.25 | 6.50 | 6.50 |
| 9 months to less than 10 months | 6.50 | 6.35 | 6.75 | 6.60 |
| 10 months to less than 1 year | 6.75 | 6.35 | 7.00 | 6.60 |
| 1 year to less than 1 year 25 days | 7.00 | 6.60 | 7.65 | 7.25 |
| 1 year 25 days to less than 14 months | 7.10 | 6.70 | 7.75 | 7.35 |
| 14 months to less than 18 months | 6.85 | 6.70 | 7.50 | 7.35 |
| 18 months to less than 2 years | 6.85 | 6.80 | 7.50 | 7.45 |
| 2 years to less than 30 months | 6.85 | 7.00 | 7.50 | 7.65 |
| 30 months to less than 3 years | 6.85 | 7.00 | 7.50 | 7.50 |
| 3 years to less than 5 years | 6.85 | 6.75 | 7.35 | 7.25 |
| 5 years to 10 years | 6.75 | 6.75 | 7.25 | 7.25 |
Axis Bank has revised FD interest rates on domestic deposits above Rs 2 crore as well. The private lender has an extensive stretch of rates that it offers on various tenures and amounts deposited.
It also offers higher interest rates on its "Fixed Deposit Plus" scheme, where premature withdrawal is not allowed. The rates were revised on those deposits with effect from 25 September as well.
Story first published: Wednesday, September 25, 2019, 16:03 [IST]
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