New Delhi: Leading private sector bank in the country, Axis Bank hiked the interest rates of one- to five-year fixed deposits of less than Rs 2 crore. On fixed deposits of 7 days to 29 days and 30 days to 3 months, the bank will offer interest rates of 2.50% and 3%, respectively.
On term deposits maturing in 3 months to 6 months and 6 months to 9 months, Axis Bank would continue to offer interest rates of 3.50% and 4.40%, respectively. Deposits maturing in 9 months to less than 1 year will get 4.75%. Deposits maturing in 1 year to less than 1 year 11 days will earn 5.45% interest.
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The bank increased the interest rate on fixed deposits maturing in one year 11 days to one year 25 days by 50 basis points, from 5.25% to 5.75%. Axis Bank will now offer a 5.60% interest rate on deposits maturing in one year, 25 days to less than 15 months. Deposits maturing in 15 months to less than two years will now get 5.60.
The interest rate on fixed deposits maturing in 2 years to less than 5 years has been hiked by 10 basis points, from 5.60% to 5.70%. The rate on deposits maturing in 5 years to 10 years has stayed unchanged at 5.75%.
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