Axis Bank Revises Interest Rates On FD, Check New Rates Here

Starting from today, May 6, private sector lender Axis Bank has updated interest rates on fixed deposits (FDs). Axis Bank provides FDs in terms ranging from seven days to ten years. Following the most recent update, Axis Bank now offers 2.50 percent interest on FDs maturing between 7 and 29 days, 3% for FDs maturing between 30 days and less than 3 months, and 3.5 percent for FDs maturing between 3 months and less than 6 months. Axis Bank offers a 4.40 percent interest rate on FDs maturing in six months or less than eleven months and twenty-five days. Following the most recent revision, the bank will now offer 5.20 percent interest on deposits maturing in 15 months or less than 18 months. Axis Bank provides 5.40 percent interest rate on long-term deposits maturing in two to five years. Deposits with a maturity period of 5 to 10 years will grant you 5.75 percent interest.

Axis Bank FD Rates For General Public (Below Rs 2 Cr)

After the latest revision Axis Bank will now offer interest rates ranging from 2.5% to 5.75% to the general public. The bank provides the highest rate of 5.75% on FDs maturing between 5 years to 10 years to non-senior citizens. Check revised rates below:

Tenure	Interest Rate In %
7 days to 14 days	2.5
15 days to 29 days	2.5
30 days to 45 days	3
46 days to 60 days	3
61 days < 3 months	3
3 months < 4 months	3.5
4 months < 5 months	3.5
5 months < 6 months	3.5
6 months < 7 months	4.4
7 months < 8 months	4.4
8 months < 9 months	4.4
9 months < 10 months	4.4
10 months < 11 months	4.4
11 months < 11 months 25 days	4.4
11 months 25 days < 1 year	4.4
1 year < 1 year 5 days	5.1
1 year 5 days < 1 year 11 days	5.15
1 year 11 days < 1 year 25 days	5.1
1 year 25 days < 13 months	5.1
13 months < 14 months	5.1
14 months < 15 months	5.1
15 months < 16 months	5.2
16 months < 17 months	5.2
17 months < 18 months	5.2
18 Months < 2 years	5.25
2 years < 30 months	5.4
30 months < 3 years	5.4
3 years < 5 years	5.4
5 years to 10 years	5.75
Source: Bank Website

Reasons To Invest In Fixed Deposits Apart From Interest Rate

Axis Bank FD Rates For Senior Citizens (Below Rs 2 Cr)

On select maturities, Axis Bank provides senior citizens an additional rate of 0.5% than the general public. On deposits maturing in 7 days to 10 years, senior citizens will now get interest rates ranging from 2.5 percent to 6.50 percent.

Tenure	Interest Rate In %
7 days to 14 days	2.5
15 days to 29 days	2.5
30 days to 45 days	3
46 days to 60 days	3
61 days < 3 months	3
3 months < 4 months	3.5
4 months < 5 months	3.5
5 months < 6 months	3.5
6 months < 7 months	4.65
7 months < 8 months	4.65
8 months < 9 months	4.65
9 months < 10 months	4.65
10 months < 11 months	4.65
11 months < 11 months 25 days	4.65
11 months 25 days < 1 year	4.65
1 year < 1 year 5 days	5.75
1 year 5 days < 1 year 11 days	5.8
1 year 11 days < 1 year 25 days	5.75
1 year 25 days < 13 months	5.75
13 months < 14 months	5.75
14 months < 15 months	5.75
15 months < 16 months	5.85
16 months < 17 months	5.85
17 months < 18 months	5.85
18 Months < 2 years	5.9
2 years < 30 months	6.05
30 months < 3 years	5.9
3 years < 5 years	5.9
5 years to 10 years	6.5
Source: Bank Website

Note

Axis Bank currently charges Rs 5 per Rs 1,000 or Rs 150, whichever is higher, for cash withdrawals above the free limit. Cash withdrawals in excess of the free limit will be charged at Rs 10 per Rs 1,000 or Rs 150, whichever is higher, effective from May 1, 2021. The minimum balance criteria for Easy Savings schemes in metro areas has been increased from Rs 10,000 to Rs 15,000 w.e.f. May 1 2021. The bank has also cut fees for services such as signature verification and photo attestation. Axis Bank customers will now have to pay a higher fee to get SMS alerts from the bank starting July 1, 2021. To know more click here.