Axis Bank Hikes Interest Rates On FDs, New Rates Effective From 9 September; Details Inside

On Friday, Axis Bank raised interest rates once again for fixed deposits under Rs 2 crore. This is the 2nd hike made by the bank this week. On Friday, September 9, 2022, the new interest rates will come into effect. According to the bank's official announcement, interest rates on fixed deposits with maturities ranging from 7 days to 6 months have increased by 25 basis points.

The bank is offering fixed deposits with a maturity period between seven to 29 days with an interest rate of 2.75 per cent. For a maturity period of 30 days to 3 months, the bank is offering 3.25 percent interest, whereas, for maturity periods of 3 months to 6 months, the bank will offer 3.75 percent interest. The interest rates are applicable for both regular deposits and senior citizens' deposits.

Fixed deposits maturing in 6 months to 7 months and 7 months to 8 months, the bank will continue to offer an interest rate of 4.65 percent and 4.40 per cent, respectively. For senior citizens, the interest rates will be 4.9 per cent and 4.46 per cent, respectively.

Fixed deposits maturing in 8 months to 9 months will continue to offer an interest rate of 4.65% to regular customers and 4.9 per cent to senior citizens, respectively.

The interest rate on fixed deposits maturing in 9 months to 1 year will continue at 4.75% for regular customers and 5 per cent for senior citizens. The interest rate on maturing in 1 year to 1 year and 11 days will stay constant at 5.45% for regular customers and 6.20 per cent for senior citizens, respectively.

The bank will continue to offer 5.75 per cent to regular customers and 6.50 per cent to senior citizens for the maturity period ranging from 1 year 11 days to 1 year 25 days.

The bank continues to offer 6.35 per cent to senior citizens and 5.60 per cent to regular customers with a maturity period between 1 year to 2 years. For a maturity period ranging from two to five years, the bank will continue to offer 6.45 per cent to senior citizens and 5.70 per cent for regular customers.

For a maturity period spanning from 5 to 10 years, the bank will also continue to offer 6.50 per cent to senior citizens and 5.75 per cent to regular consumers.

Interest rates on Domestic Deposits on less than 2 Cr w.e.f. 09-09-2022

PERIOD	Regular Customers (% p.a)	Senior Citizens (% p.a)
7 days to 14 days	2.75	2.75
15 days to 29 days	2.75	2.75
30 days to 45 days	3.25	3.25
46 days to 60 days	3.25	3.25
61 days	3.25	3.25
3 months	3.75	3.75
4 months	3.75	3.75
8. 5 months	3.75	3.75
6 months	4.65	4.9
7 months	4.4	4.65
8 months	4.65	4.9
9 months	4.75	5
10 months	4.75	5
11 months	4.75	5
11 months 25 days	4.75	5
1 year	5.45	6.2
1 year 5 days	5.45	6.2
1 year 11 days	5.75	6.5
1 year 25 days	5.6	6.35
13 months	5.6	6.35
14 months	5.6	6.35
15 months	5.6	6.35
16 months	5.6	6.35
17 months	5.6	6.35
18 Months	5.6	6.35
. 2 years	5.7	6.45
30 months	5.7	6.45
. 3 years	5.7	6.45
5 years to 10 years	5.75	6.5

Source- Axisbank.com