Axis Bank Revises FD Rates Effective From Today: Check New Rates Here

Axis Bank on Monday announced a revision of its interest rates on fixed deposits (FDs) of less than Rs 2 Cr. Following the revision, the bank is now promising interest rates ranging from 3.50% to 7.00% for the general public and 6.00% to 7.75% for senior citizens. On FDs maturing in 13 months to 30 months, Axis Bank is now promising a maximum return of 7.10% for non-senior citizens and 7.85% for senior citizens. As per the official website of the bank, these FD rates are effective as of 28 August 2023.

Axis Bank FD Rates

The bank currently offers an interest rate of 3.50% on fixed deposits that mature within the next 7 days to 45 days, while Axis Bank also guarantees an interest rate of 4.00 on deposits maturing in the next 46 days to 60 days. Currently, Axis Bank is providing a fixed deposit interest rate of 4.50% for tenors of 61 days to three months and 4.75% for tenors of three months to six months. Deposits that mature in 6 to 9 months will earn interest at a rate of 5.75%, while those that mature in 9 to 12 months will now earn interest at a rate of 6%.

The bank is paying an interest rate of 6.75% on fixed deposits that mature in 1 year to 1 year 4 days, while Axis Bank is providing an interest rate of 6.80% on deposits that mature in 1 year 5 days to 13 months. On deposits with a duration of 13 months to 30 months, Axis Bank would charge an interest rate of 7.10%, and on deposits with a tenure of 30 months to 10 years, 7.00%.

The minimum deposit needed to start an FD account at Axis Bank is Rs 5000 if done online or using a mobile app, and Rs 10,000 if done in person at a bank branch. Depending on your financial needs, you can pick among options for FD interest payout with an Axis Bank FD such as monthly, quarterly, or at maturity.

Additionally, you can benefit from Section 80C tax exemption on the amount placed in a Tax-Saver FD up to a limit of Rs 1.5 lakh. The Axis Bank tax saving FD has a five-year term and cannot be withdrawn before it expires. The relevant interest rate is 7% for the general public and 7.75% for senior citizens.

1. 7 days to 14 days - 3.50%

2. 15 days to 29 days - 3.50%

3. 30 days to 45 days - 3.50%

4. 46 days to 60 days- 4.00%

5. 61 days to 3 months - 4.50%

6. 3 months to 4 months - 4.75%

7. 4 months to 5 months - 4.75%

8. 5 months to 6 months - 4.75%

9. 6 months to 7 months - 5.75%

10. 7 months to 8 months - 5.75%

11. 8 months to 9 months - 5.75%

12. 9 months to 10 months - 6.00%

13 10 months to 11 months - 6.00%

14. 11 months to 11 months 24 days - 6.00%

15. 11 months 25 days to 1 year - 6.00%

16. 1 year to 1 year 4 days - 6.75%

17. 1 year 5 days to 1 year 10 days - 6.80%

18. 1 year 11 days to 1 year 24 days - 6.80%

19. 1 year 25 days to 13 months - 6.80%

20. 13 months to 14 months - 7.10%

21. 14 months to 15 months - 7.10%

22. 15 months to 16 months - 7.10%

23. 16 months to 17 months - 7.10%

24. 17 months to 18 months - 7.10%

25. 18 Months to 2 years - 7.10%

26. 2 years to 30 months - 7.10%

27. 30 months to 3 years - 7.00%

28. 3 years to 5 years - 7.00%

29. 5 years to 10 years - 7.00%
Source: Bank Website