Private bank hikes interest rates on fixed deposit

Mumbai: Leading private sector bank in the country, Axis  Bank has hiked interest rates on fixed deposit (FD). The lender hiked the rates by up to 40 basis points (bps) on select tenors on deposits below Rs 2 crore. The new interest rates came into effect  from March 10, 2023.

The lender has hiked interest rate on FD maturing between 13 months and less than 2 years by 40 basis points from 6.75% to 7.15%. On deposits with maturities between 2 years and 30 months, the interest rate offered by the bank is the highest at 7.26%.

Here are the revised interest rates on fixed deposits below Rs 2 crore at Axis Bank from March 10, 2023:

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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: 6.75 per cent for General Public; 7.50 per cent for Senior Citizens

1 year 5 days to less than 1 year 11 days: 6.75 per cent for General Public; 7.50 per cent for Senior Citizens

1 year 11 days to less than 1 year 24 days: 6.75 per cent for General Public; 7.50 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: 7.26 per cent for General Public; 8.01 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.