Even as the RBI went on a rate hike spree since May last year, banks also raised their interest rates on both deposits and loans. Several banks, including HDFC Bank, Axis Bank and SBI, increase their interest rate offerings multiple times to pass on the rate hike to customers. Now, after the RBI snapped the rate hike cycle by maintaining the status quo on the repo rate earlier this month, Axis Bank has reduced its FD interest rate on some tenures, mainly those offering the highest interest.
Now, Axis Bank offers FD interest rates between 3.5 per cent to 7.20 per cent on tenures ranging from 7 days to 10 years.
Here are the revised interest rates on fixed deposits below Rs 2 crore at the Axis Bank from April 21, 2023:
7 days to 14 days: 3.50 per cent for General Public; 3.50 per cent for Senior Citizens
15 days to 29 days: 3.50 per cent for General Public; 3.50 per cent for Senior Citizens
30 days to 45 days: 3.50 per cent for General Public; 3.50 per cent for Senior Citizens
46 days to 60 days: 4.00 per cent for General Public; 4.00 per cent for Senior Citizens
61 days to less than 3 months: 4.50 per cent for General Public; 4.50 per cent for Senior Citizens
3 months to less than 4 months: 4.75 per cent for General Public; 4.75 per cent for Senior Citizens
4 months to less than 5 months: 4.75 per cent for General Public; 4.75 per cent for Senior Citizens
5 months to less than 6 months: 4.75 per cent for General Public; 4.75 per cent for Senior Citizens
6 months to less than 7 months: 5.75 per cent for General Public; 6.00 per cent for Senior Citizens
7 months to less than 8 months: 5.75 per cent for General Public; 6.00 per cent for Senior Citizens
8 months to less than 9 months: 5.75 per cent for General Public; 6.00 per cent for Senior Citizens
9 months to less than 10 months: 6.00 per cent for General Public; 6.25 per cent for Senior Citizens
10 months to less than 11 months: 6.00 per cent for General Public; 6.25 per cent for Senior Citizens
11 months to less than 11 months 25 days: 6.00 per cent for General Public; 6.25 per cent for Senior Citizens
11 months 25 days to less than 1 year: 6.00 per cent for General Public; 6.25 per cent for Senior Citizens
1 year to less than 1 year 4 days: 6.80 per cent for General Public; 7.55 per cent for Senior Citizens
1 year 5 days to less than 1 year 11 days: 6.80 per cent for General Public; 7.55 per cent for Senior Citizens
1 year 11 days to less than 1 year 24 days: 6.80 per cent for General Public; 7.55 per cent for Senior Citizens
1 year 25 days to less than 13 months: 7.10 per cent for General Public; 7.85 per cent for Senior Citizens
13 months to less than 14 months: 7.15 per cent for General Public; 7.90 per cent for Senior Citizens
14 months to less than 15 months: 7.15 per cent for General Public; 7.90 per cent for Senior Citizens
15 months to less than 16 months: 7.15 per cent for General Public; 7.90 per cent for Senior Citizens
16 months to less than 17 months: 7.15 per cent for General Public; 7.90 per cent for Senior Citizens
17 months to less than 18 months: 7.15 per cent for General Public; 7.90 per cent for Senior Citizens
18 months to less than 2 years: 7.15 per cent for General Public; 7.90 per cent for Senior Citizens
2 years to less than 30 months: 7.20 per cent for General Public; 7.95 per cent for Senior Citizens
30 months to less than 3 years: 7.00 per cent for General Public; 7.75 per cent for Senior Citizens
3 years to less than 5 years: 7.00 per cent for General Public; 7.75 per cent for Senior Citizens
5 years to 10 years: 7.00 per cent for General Public; 7.75 per cent for Senior Citizens.
Read all the Latest Business News, Tax News and Stock Market Updates here
Comments
0 comment