highlights
Interest has been increased for FDs in excess of Rs 5 crore.
The new FD rates were self-implemented from April 10th.
The bank has already raised rates on FDs of less than 2 crores.
New Delhi. The private sector’s Axis Bank has raised rates on fixed deposit (FD) deposits again. The bank has increased interest rates on FDs of Rs 5 crore or more. On bank FDs with maturities of 7 days to 10 years, the normal customer receives interest of 5.5 percent to 7 percent per year (Axis Bank FD rates). At the same time, the bank gives seniors 5.5 to 7.75 percent interest. The new interest rates will apply from April 10th.
Existing Axis Bank customers can open an FD account online using Mobile Banking or Internet Banking. Apart from that, the customer can also get this work done by visiting the nearest branch of the bank. Those who do not use any services from the bank need to go to the nearest branch of the bank to open an FD account. Axis Bank also raised interest rates on fixed deposits by less than Rs 2 crore in February and March this year.
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New rates for FDs from 5 to 10 crores
The common customer now earns 5.50 percent interest on FDs maturing in 7 days to 14 days from 5 crores to 10 crores. 5.50 percent interest is also granted on FDs ranging from 10 crores to less than 24 crores. The bank also gives 5.50% interest on FDs from 15 days to 29 days. The bank pays 5.55 percent interest on FDs with a maturity of 30 to 45 days and amounts less than 5 to 24 crores. 5.80 percent interest is granted on FDs of less than 5 crores to 24 crores that close in 46 days to 60 days. 7.25 percent interest is granted on FDs completed in a period of 1 year to 1 year and 4 days. 7% interest is granted on FDs maturing in a period of less than 2 years to less than 30 months from Rs 5 crore to less than Rs 24 crore.
The bank has now announced that it will pay 7% interest on FDs over 5 crores for a period of 30 months to less than 3 years. The bank also gives 7% interest on FDs of less than 10 crores to 24 crores. 7 percent interest will also be available for FDs with a term of less than 3 years to 5 years. 7% interest is granted on FDs greater than 5 crores that close in 5 to 10 years. Likewise, 7 percent interest is granted on FDs with an amount of less than 5 crores up to 24 crores. Seniors earn 7.75% interest on FDs with a term of 2 to 10 years.
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FIRST RELEASED : April 12, 2023
