Private lender Axis Bank has increased interest rates by 5 basis points to 5.30% on fixed deposits for tenures less than 1 year 11 days. The revised rate will be applicable from March 21.
The interest rates remain the same for all other periods. For the last time, they were amended on March 17.
According to the data available with Axis Bank website, the earlier rate for the same tenure is 5.25%. For senior citizens, the rate has been revised to 5.80%. Senior citizens get 0.50% more interest on all tenors.
Axis Bank offers the highest interest rate of 5.75% on fixed deposits with tenures ranging from 5 years to 10 years.
The private lender has recently revised the interest rates on FDs. For fixed deposits maturing in less than 2 years in 18 months, Axis Bank offers 5.25% interest, after the latest revision on March 17, on deposits below Rs 2 crore.
Axis Bank offers 5.40% interest for deposits of 2 years but less than 30 months. For long term deposits maturing in more than 3 years to less than 5 years, Axis Bank offers an interest rate of 5.40%. And on deposits maturing in 5 years to 10 years, you will get an interest rate of 5.75%.
Axis Bank FD Rates for Senior Citizens
Senior citizens will get an interest rate of 2.5% to 6.50% on deposits maturing in 7 days to 10 years.
Earlier, banks like State Bank of India (SBI), HDFC Bank, Bank of Baroda and Canara Bank had revised their FD interest rates.
(with inputs from ANI)
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