Axis Bank has reduced the fixed deposit interest rate on one tenure by 10 basis points (bps) for amounts below Rs 2 crore. The new FD rate is effective from August 28, 2023, according to the Axis Bank website.
The bank has reduced 10 bps on tenure of 2 years to less than 30 months from 7.20% to 7.10%.
After the revision, Axis Bank offers interest rates between 3.5% and 7.10% on tenures ranging from 7 days to 10 years.
Previously, the bank had reduced 10 bps on tenure of 16 months to less than 17 months on tenure from 7.30% to 7.10% on August 18, 2023.
The bank now offers fixed deposit interest rates of 3.50% for deposits maturing in 7 to 45 days and 4.00% for deposits maturing in 46 to 60 days. Axis Bank now offers interest rates of 4.50% and 4.75% on deposits with maturities ranging from 61 days to three months and 3 months to less than 6 months respectively. Deposits maturing in 6 to 9 months will earn 5.75% interest, while deposits maturing in 9 months to less than a year will earn 6.00% interest.
Fixed deposits maturing in one year to one year, four days earn 6.75%, while deposits maturing in one year, 5 days to less than 13 months earn 6.80%. The bank provides 7.10 percent on 13-month to less than 30 months. The bank has reduced 10 bps on tenure of 2 years to less than 30 months from 7.20% to 7.10%.
Axis Bank fixed deposits will earn a 7% interest rate on tenure from 30 months to ten years.
Axis Bank senior citizen interest rate
After the revision, the bank will now offer an interest rate between 3.50% to 7.85% on tenures ranging from 7 days to 10 years. The highest interest rate of 7.85% is offered on tenure 13 months to less than 30 months.
