Axis Bank Revises Fixed Deposit Interest Rates W.e.f. 05/03/2022

Axis Bank, a private sector lender, has revised interest rates on fixed deposits of less than Rs 2 crore. The new interest rates go into effect today, March 5, 2022, and the bank will provide a maximum interest rate of 5.75 percent to the general public and 6.50 percent to senior citizens on deposits maturing in 5 to 10 years as a result of the revision. These interest rates are beneficial for long-term investors since they are not only high but also provide for tax savings under section 80C.

The bank is currently giving a 5.10 percent interest rate on one-year deposits to the general public and 5.75 percent to senior citizens. Axis Bank is now giving a 5.40 percent interest rate on deposits maturing in two years to regular customers and a 6.05 percent interest rate to senior citizens on deposits maturing in two years. Non-senior residents will now get 5.40 percent on deposits maturing in three years, while senior citizens will earn 6.05 percent. On long deposits maturing in 5 to 10 years, non-senior citizens will now receive a 5.75 percent interest rate, while senior citizens will receive a 6.50 percent interest rate.

Senior citizens will continue to get an additional rate of 0.50% over and above the regular rates on deposits maturing in 6 months to 10 years. Interest rates on fixed deposits of less than Rs 2 crore, commencing from March 5, 2022, are as follows, according to the bank's official website.

Axis Bank FD Rates 2022

PERIOD	REGULAR INTEREST RATES (% P.A.)	SENIOR CITIZENS INTEREST RATES (% P.A.)
7 days to 14 days	2.5	2.5
15 days to 29 days	2.5	2.5
30 days to 45 days	3	3
46 days to 60 days	3	3
61 days	3	3
3 months	3.5	3.5
4 months	3.5	3.5
5 months	3.5	3.5
6 months	4.4	4.65
7 months	4.4	4.65
8 months	4.4	4.65
9 months	4.4	4.65
10 months	4.4	4.65
11 months	4.4	4.65
11 months 25 days	4.4	4.65
1 year	5.1	5.75
1 year 5 days	5.15	5.8
1 year 11days	5.25	5.9
1 year 25 days	5.15	5.8
13 months	5.15	5.8
14 months	5.15	5.8
15 months	5.2	5.85
16 months	5.2	5.85
17 months	5.2	5.85
18 months	5.25	5.9
2 years	5.4	6.05
30 months	5.4	6.05
3 years	5.4	6.05
5 years to 10 years	5.75	6.5
Source: Bank Website. W.e.f. 05.03.2022