Axis Bank Latest To Cut FD Rates Below Rs 2 Crore; Check Interest Rates Here

Axis Bank is the latest to trim its interest rates on fixed deposits less than Rs 2 crore. The bank has cut FD rates from 16 months to less than 17 months tenure for the general category. Now, the bank is offering FD rates in the range of 3.5% and 7.20% on maturity periods starting from as low as 7 days up to 10 years. The new interest rates have come into effect from August 18, 2023.

FD rates:

On 16 months to less than 17 months tenure, the bank is offering a 7.10% rate from the earlier 7.30%.

The bank also offers a 7.10% rate on tenures from 14 months to less than 16 months, and also from 17 months to less than 2 years.

The rate is high at 7.20% on 2 years to less than 30 months tenure. From 30 months to 10 years maturities, Axis Bank is offering a 7% rate.

In the tenures below 13 months, the interest rate ranges from 3.50% to 6.80%.

From 7 days to 45 days, the rate is the lowest at 3.5%; while the bank offers 4% on 46 days to 60 days tenure, and 4.50% rate on 61 days to less than 3 months tenure. Meanwhile, from 3 months to less than 6 months, the interest rate is set at 4.75%. And from 6 months to less than 9 months, the rate would be higher at 5.75%.

A 6% rate is offered on tenures from 9 months to less than 1 year. The bank gives a 6.75% rate on FDs with a maturity period of 1 year 5 days to 1 year 10 days. Lastly, a 6.80% rate is offered on tenures from 1 year 11 days to less than 13 months.

Senior citizens:

On FDs below Rs 2 crore, senior citizens get as high as 7.95% on 2 years to less than 30 months tenure, while they earn 7.85% rates on tenures from 13 months to less than 2 years. The rate is 7.75% on tenures from 30 months to 10 years.

The bank also gives a 7.50% rate on 1 year to 1 year 4 days tenure, and 7.50% on tenures from 1 year 5 days to less than 13 months.

Just like the general category, senior citizens will also get a 3.50% rate on shorter tenures like 7 days to 45 days; 4.50% on 61 days to less than 3 months; 4.75% from 3 months to less than 6 months tenures.

Senior citizens will earn a 6% rate on FDs maturing from 6 months to less than 9 months. While the rate would be 6.25% on FDs holding tenures from 9 months to less than 1 year.