This Article is From Nov 16, 2020

Axis Bank Revises Fixed Deposit Interest Rates

Currently, Axis Bank provides annual returns to the tune of 2.5-3.5 per cent on fixed deposits of up to Rs 2 crore of up to six months, according to the lender's website -axisbank.com.

Axis Bank Revises Fixed Deposit Interest Rates

Axis Bank reviews the interest rates on fixed deposits from time to time

Axis Bank revised interest rates applicable to select term deposits - or fixed deposits - with effect from November 13. Currently, Axis Bank - the country's fourth largest private sector lender by market value - provides annual returns of 2.5 per cent on retail FDs of seven to 29 days, 3 per cent on those of 30 days to up to three months, and 3.5 per cent on those of three months to up to six months, according to its website - axisbank.com. Axis Bank provides slightly higher returns to senior citizens compared to other customers.

Here are the interest rates applicable to Axis Bank retail fixed deposits (up to Rs 2 crore) with effect from November 13:

Interest Rate
Maturity PeriodGeneral PublicSenior Citizens
7-14 days2.5%2.5%
15-29 days2.5%2.5%
30-45 days3%3%
46-60 days3%3%
61 days < 3 months3%3%
3 < 4 months3.5%3.5%
4 < 5 months3.5%3.5%
5 < 6 months3.5%3.5%
6 < 7 months4.4%4.65%
7 < 8 months4.4%4.65%
8 < 9 months4.4%4.65%
9 < 10 months4.4%4.65%
10 < 11 months4.4%4.65%
11 months < 11 months 25 days4.4%4.65%
11 months 25 days < 1 year5.15%5.4%
1 year < 1 year 5 days5.15%5.8%
1 year 5 days < 1 year 11 days5.1%5.75%
1 year 11 days < 1 year 25 days5.1%5.75%
1 year 25 days < 13 months5.1%5.75%
13 < 14 months5.1%5.75%
14 < 15 months5.1%5.75%
15 < 16 months5.1%5.75%
16 < 17 months5.1%5.75%
17 < 18 months5.1%5.75%
18 months < 2 years5.25%5.9%
2 years < 30 months5.4%6.05%
30 months < 3 years5.4%5.9%
3 < 5 years5.4%5.9%
5 < 10 years5.5%6%
(Source: axisbank.com)

Private sector banks such as Axis review the interest rates on term deposits from time to time.

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