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Axis Bank Hikes Interest Rates On FDs of 1-Year W.e.f. 21st March 2022

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Axis Bank, a private sector lender, announced today a 5-basis-point interest rate rise on one-year fixed deposits. The bank was giving a 5.25 percent interest rate on deposits of less than Rs 2 crore maturing in 1 year 11 days to 1 year 25 days, but following today's modification or in force from 21/03/2022, the bank will now pay a 5.30 percent interest rate on the above said tenure. Senior citizens were previously offered a 5.9% interest rate on the same tenure by the bank, but they would now receive a 5.95 percent interest rate. Except for that period, the bank's interest rates have remained steady.

 
Axis Bank Hikes Interest Rates On FDs of 1-Year W.e.f. 21st March 2022

Axis Bank FD Rates For Regular Customers

The bank will provide the following interest rates to the general public on fixed deposits of less than Rs 2 crore maturing in 7 days to 10 years as of March 21, 2022. On term deposits maturing in 5 to 10 years, non-senior individuals will get a maximum interest rate of 5.75 percent.

TenorsInterest rates in % p.a.
7 days to 14 days2.5
15 days to 29 days2.5
30 days to 45 days3
46 days to 60 days3
61 days to less than 3 months3
3 months to less than 4 months3.5
4 months to less than 5 months3.5
5 months to less than 6 months3.5
6 months to less than 7 months4.4
7 months to less than 8 months4.4
8 months to less than 9 months4.4
9 months to less than 10 months4.4
10 months to less than 11 months4.4
11 months to less than 11 months 25 days4.4
11 months 25 days to less than 1 year4.4
1 year to less than 1 year 5 days5.1
1 year 5 days to less than 1 year 11days5.15
1 year 11days to less than 1 year 25days5.3
1 year 25 days to less than 13 months5.15
13 months to less than 14 months5.15
14 months to less than 15 months5.15
15 months to less than 16 months5.2
16 months to less than 17 months5.2
17 months to less than 18 months5.2
18 months to less than 2 years5.25
2 years to less than 30 months5.4
30 months to less than 3 years5.4
3 years to less than 5 years5.4
5 years to 10 years5.75
Source: Bank Website. W.E.F. 21/03/2022

Axis Bank FD Rates For Senior Citizens

As of March 21, 2022, Axis bank will provide elderly people the following interest rates on fixed deposits of less than Rs 2 crore maturing in 7 days to 10 years. Seniors will get a maximum interest rate of 6.50 percent on term deposits maturing in 5 to 10 years. On deposits maturing in 6 months to 10 years, senior folks will continue to get a 0.50 percent additional over and above the regular rate.

 
TenorsInterest rates in % p.a.
7 days to 14 days2.5
15 days to 29 days2.5
30 days to 45 days3
46 days to 60 days3
61 days to less than 3 months3
3 months to less than 4 months3.5
4 months to less than 5 months3.5
5 months to less than 6 months3.5
6 months to less than 7 months4.65
7 months to less than 8 months4.65
8 months to less than 9 months4.65
9 months to less than 10 months4.65
10 months to less than 11 months4.65
11 months to less than 11 months 25 days4.65
11 months 25 days to less than 1 year4.65
1 year to less than 1 year 5 days5.75
1 year 5 days to less than 1 year 11days5.8
1 year 11days to less than 1 year 25days5.95
1 year 25 days to less than 13 months5.8
13 months to less than 14 months5.8
14 months to less than 15 months5.8
15 months to less than 16 months5.85
16 months to less than 17 months5.85
17 months to less than 18 months5.85
18 months to less than 2 years5.9
2 years to less than 30 months6.05
30 months to less than 3 years6.05
3 years to less than 5 years6.05
5 years to 10 years6.5
Source: Bank Website. W.E.F. 21/03/2022

Story first published: Monday, March 21, 2022, 11:59 [IST]
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