New Delhi: Private sector lender Axis Bank has increased the interest rate on fixed deposits of less than Rs 2 crore. The announcement was made by Axis Bank in response to the RBI’s increase in repo rate by 25 basis points to 6.50 per cent on Wednesday. Axis Bank now offers interest rates on deposits maturing in 7 days to 10 years which vary from 3.50 per cent to 7 per cent for general public and 6 per cent to 7.75 per cent for senior citizens as a result of the announcement.
The maximum return on deposits with maturity of two years to thirty months is 8.01 per cent for senior citizens and 7.26 per cent for non-senior citizens. According to Axis Bank’s website, the updated rates are effective from today, February 11, 2023. ,Also Read: Wealth Creation Plan: Invest In These SBI Mutual Fund Schemes To Get Strong Profits- Check Return Calculator Here,
On fixed deposits maturing in the next seven to forty-five days, the bank is now offering an interest rate of 3.50 percent, while Axis Bank is now offering an interest rate of 4 percent on deposits that mature in the following thirty-six days. There are Sixty days ,Also read: PM-KISAN: These farmers are not eligible to get the benefits of the scheme- Check details,
On deposits with maturities of 61 days to three months and three months to six months, respectively, Axis Bank is now offering an interest rate of 4.5 per cent and 4.75 per cent.
Now interest will be given at the rate of 5.75 percent on deposits maturing in 6 to 9 months, while interest will be given at the rate of 6 percent on deposits maturing in 9 to 12 months.
The bank is currently offering an interest rate of 6.75 per cent on fixed deposits maturing in one year to one year and one day and 7.1 per cent on deposits maturing in one and a half to thirteen months.
Now deposits with maturity between 13 months and two years will get interest at the rate of 6.75 per cent and deposits with maturity between two years and thirty months at the rate of 7.26 per cent.
The interest rate on deposits with tenure ranging from 30 months to 10 years in Axis Bank is now 7 percent. Senior citizens will get an additional interest rate over and above standard rates on fixed deposits maturing in 6 months to 10 years.
