Private sector lender Axis Bank has revised interest rates on fixed deposits (FDs) with effect from May 6. Ranging from 7 days to 10 years, Axis Bank offers FDs across different tenures.
Axis Bank is offering an interest rate of 2.50 percent on FDs with maturity between 7 days and 29 days, 3 percent for FDs maturing between 30 days and less than 3 months, 3.5 percent for FDs between 3 months and less than 6 months. For FDs maturing in six months to less than 11 months 25 days, Axis Bank gives a 4.40% interest rate after the latest revision.
For deposits maturing in 15 months to less than 18 months, the bank will give 5.20 percent interest rate. Axis Bank offers an interest rate of 5.40 percent for long-term deposits maturing in 2 years to 5 years and And deposits maturing in 5 years to 10 years will fetch you an interest rate of 5.75 percent.
Axis Bank offers a higher rate to senior citizens on select maturities. Senior citizens will get an interest rate ranging from 2.5 percent to 6.50 percent on deposits maturing in 7 days to 10 years.
Axis Bank has hiked various service charges for its savings bank account holders with effect from May 1, 2021. The private sector lender has increased cash withdrawal charges from ATM beyond the free limit. Also, it has increased the minimum balance requirements for various types of savings accounts.
|Maturity Period||Interest Rate|
|7 days to 29 days||2.50%|
|30 days to 3 months||3%|
|3 months to 6 months||3.5%|
|6 months to 1 year||4.40%|
|1 year to 1 year 5 days||5.10%|
|1 year 5 days to 1 year 11 days||5.15%|
|1 year 11 days to 15 months||5.10%|
|15 months to 18 months||5.20%|
|18 months to 2 years||5.25%|
|2 years to 5 years||5.40%|
|5 years to 10 years||5.75%|