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Axis & HDFC Bank Makes Interest Rates Revision On These Deposits
Interest rates on certain fixed deposits have been revised by the two private-sector lenders HDFC and Axis Bank. Domestic Fixed Deposit Plus and NRI Fixed Deposit Plus interest rates have been revised by Axis Bank. Both of these accounts are non-callable and premature withdrawals are not permitted. HDFC Bank, on the other hand, has adjusted the interest rate on fixed deposits of more than Rs 5 crore.
Axis Bank Domestic Fixed Deposit Plus Interest Rates
Premature withdrawals are not permitted on Axis Bank's domestic fixed deposit plus, and the bank's interest rate was revised on April 2, 2022.
| Tenors | Rs 2 Cr to 5 Cr | Rs 5 Cr to 10 Cr | Rs 10 Cr to 25 Cr | Rs 25 Cr to 50 Cr | Rs 50 Cr to 100 Cr | Rs 100 Cr & above |
|---|---|---|---|---|---|---|
| 7 days to 14 days | 3.05 | 3.05 | 3.05 | 3.05 | 3.05 | 3.05 |
| 15 days to 29 days | 3.05 | 3.05 | 3.05 | 3.05 | 3.05 | 3.05 |
| 30 days to 45 days | 3.2 | 3.2 | 3.2 | 3.2 | 3.2 | 3.2 |
| 46 days to 60 days | 3.2 | 3.2 | 3.2 | 3.2 | 3.2 | 3.2 |
| 61 days to less than 3 months | 3.35 | 3.35 | 3.35 | 3.35 | 3.75 | 3.75 |
| 3 months to less than 4 months | 4 | 4.2 | 4.2 | 4.2 | 4.2 | 4.2 |
| 4 months to less than 5 months | 4 | 4.2 | 4.2 | 4.2 | 4.2 | 4.2 |
| 5 months to less than 6 months | 4 | 4.2 | 4.2 | 4.2 | 4.2 | 4.2 |
| 6 months to less than 7 months | 4.25 | 4.45 | 4.45 | 4.45 | 4.45 | 4.45 |
| 7 months to less than 8 months | 4.25 | 4.45 | 4.45 | 4.45 | 4.45 | 4.45 |
| 8 months to less than 9 months | 4.25 | 4.45 | 4.45 | 4.45 | 4.45 | 4.45 |
| 9 months to less than 10 months | 4.3 | 4.5 | 4.5 | 4.5 | 4.5 | 4.5 |
| 10 months to less than 11 months | 4.3 | 4.5 | 4.5 | 4.5 | 4.5 | 4.5 |
| 11 months to less than 11 months 25 days | 4.3 | 4.5 | 4.5 | 4.5 | 4.5 | 4.5 |
| 11 months 25 days to less than 1 year | 4.3 | 4.5 | 4.5 | 4.5 | 4.5 | 4.5 |
| 1 year to less than 1 year 5 days | 4.45 | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 1 year 5 days to less than 1 year 11 days | 4.45 | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 1 year 11 days to less than 1 year 25 days | 4.45 | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 1 year 25 days to less than 13 months | 4.45 | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 13 months to less than 14 months | 4.45 | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 14 months to less than 15 months | 4.45 | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 15 months to less than 16 months | 4.45 | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 16 months to less than 17 months | 4.45 | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 17 months to less than 18 months | 4.45 | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 18 months to less than 2 years | 4.45 | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 2 years to less than 30 months | 4.55 | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 30 months to less than 3 years | 4.55 | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 3 years to less than 5 years | 4.65 | 4.9 | 4.9 | 4.9 | 4.9 | 4.9 |
| 5 years to 10 years | 4.65 | 4.9 | 4.9 | 4.9 | 4.9 | 4.9 |
| Source: Bank Website. W.E.F 02/04/2022 |
Axis Bank NRI Fixed Deposit Plus Interest Rates
As of 02/04/2022, Axis Bank is giving the following interest rates on Non-Resident External (NRE) deposits of Rs 5 Cr and above with no premature withdrawal option.
| Tenors | Rs 5 Cr to 10 Cr | Rs 10 Cr to 25 Cr | Rs 25 Cr to 50 Cr | Rs 50 Cr to 100 Cr | Rs 100 Cr & above |
|---|---|---|---|---|---|
| 1 year to less than 1 year 5 days | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 1 year 5 days to less than 1 year 11 days | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 1 year 11 days to less than 1 year 25 days | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 1 year 25 days to less than 13 months | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 13 months to less than 14 months | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 14 months to less than 15 months | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 15 months to less than 16 months | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 16 months to less than 17 months | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 17 months to less than 18 months | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 18 Months to less than 2 years | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 2 years to less than 30 months | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 30 months to less than 3 years | 4.8 | 4.8 | 4.8 | 4.8 | 4.8 |
| 3 years to less than 5 years | 4.9 | 4.9 | 4.9 | 4.9 | 4.9 |
| 5 years to 10 years | 4.9 | 4.9 | 4.9 | 4.9 | 4.9 |
| Source: Bank Website. W.E.F 02/04/2022 |
HDFC Bank Non-Withdrawable Domestic/NRE/NRO Term Deposits Interest Rates For Amount More Than Or Equal to Rs 5 Cr
As of April 1, 2022, HDFC Bank will provide the following interest rates on non-withdrawable domestic/NRE/NRO term deposits with an amount more than or equal to Rs 5 crore. HDFC Bank has mentioned on its website that "The Fixed Deposits does not have any premature withdrawal facility i.e. the Fixed Deposits cannot be closed by the depositor before expiry of the term of such deposit. However, the Bank may allow premature withdrawal of these deposits in the exceptional circumstance such as in the event of any direction from any judiciary /statutory and / or regulatory authorities cases or deceased claim settlement cases. In the event of premature withdrawal of these deposits under above mentioned exceptional circumstances (except for deceased claim settlement case), the Bank will not pay any interest on the principal amount of the deposit. Any interest credited or paid up to the date of such premature closure will be recovered from the deposit."
According to the bank "In the event of premature withdrawal of these FDs due to death claim , interest to be paid to the claimant. The interest rate applicable on such withdrawal will be the contracted rate or the base rate applicable for the period the deposit has remained with the bank, whichever is lower. The base rate is the rate applicable to deposits of 5 crores as on the date of booking the deposit."
| Tenors | Rs 5.25 Cr | Rs 5.25 Cr to 5.50 Cr | Rs 5.50 Cr to 24.75 Cr | Rs 24.75 Cr to 25 Cr | Rs 25 Cr to 50 Cr | Rs 50 Cr to 75 Cr | Rs 75 Cr to 100 Cr | Rs 100 Cr to 150 Cr | Ra 150 Cr to 200 Cr | More than Rs 200 Cr |
|---|---|---|---|---|---|---|---|---|---|---|
| 91 days to less than or equal to 6 months | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% |
| 6 months 1 day to less than or equal to 9 months | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
| 9 months 1 day to less than 1 year | 4.15% | 4.15% | 4.15% | 4.15% | 4.15% | 4.15% | 4.15% | 4.15% | 4.15% | 4.15% |
| 1 year to less than 15 months | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% |
| 15 months to less than 18 months | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% |
| 18 months to less than 21 months | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% |
| 21 months to less than 2 years | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% |
| 2 years 1 day to 3 years | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% |
| 3 years 1 day to 5 years | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% |
| 5 years 1 day to 10 years | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% |
| Source: Bank Website. WEF 1st April 2022 |
HDFC Bank Withdrawable Domestic/NRE/NRO Term Deposits Interest Rates For Amount More Than Or Equal to Rs 5 Cr
| Tenors | Rs 5.25 Cr | Rs 5.25 Cr to 5.50 Cr | Rs 5.50 Cr to 24.75 Cr | Rs 24.75 Cr to 25 Cr | Rs 25 Cr to 50 Cr | Rs 50 Cr to 75 Cr | Rs 75 Cr to 100 Cr | Rs 100 Cr to 150 Cr | Ra 150 Cr to 200 Cr | More than Rs 200 Cr |
|---|---|---|---|---|---|---|---|---|---|---|
| 7 - 14 days | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
| 15-29 days | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
| 30-45 days | 2.75% | 2.50% | 2.75% | 2.50% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% |
| 46-60 days | 2.75% | 2.50% | 2.75% | 2.50% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% |
| 61-90 days | 3.00% | 2.75% | 3.00% | 2.75% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
| 91 days to less than 6 months | 3.35% | 2.75% | 3.35% | 2.75% | 3.35% | 3.35% | 3.35% | 3.35% | 3.35% | 3.35% |
| 6 mnths 1 day to less than 9mnths | 3.60% | 3.00% | 3.60% | 3.00% | 3.60% | 3.60% | 3.60% | 3.60% | 3.60% | 3.60% |
| 9 mnths 1 day to less than 1 Year | 3.70% | 3.00% | 3.70% | 3.00% | 3.70% | 3.70% | 3.70% | 3.70% | 3.70% | 3.70% |
| 1 Year to less than 15 months | 4.05% | 3.20% | 4.05% | 3.20% | 4.05% | 4.05% | 4.05% | 4.05% | 4.05% | 4.05% |
| 15 months to less than 18 months | 4.10% | 3.20% | 4.10% | 3.20% | 4.10% | 4.10% | 4.10% | 4.10% | 4.10% | 4.10% |
| 18 months to less than 21 months | 4.25% | 3.20% | 4.25% | 3.20% | 4.25% | 4.25% | 4.25% | 4.25% | 4.25% | 4.25% |
| 21 months to 2 years | 4.25% | 3.20% | 4.25% | 3.20% | 4.25% | 4.25% | 4.25% | 4.25% | 4.25% | 4.25% |
| 2 year 1 day to 3 years | 4.50% | 3.20% | 4.50% | 3.20% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% |
| 3 year 1 day to 5 years | 4.60% | 3.20% | 4.60% | 3.20% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% |
| 5 year 1 day to 10 years | 4.60% | 3.20% | 4.60% | 3.20% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% |
| Source: Bank Website. WEF 1st April 2022 |
