Mumbai: Three leading banks in the country have revised fixed deposit interest rates. Axis Bank, IDBI Bank and Kotak Mahindra Bank have revised their term deposit rates.
Fixed Deposits (FDs) are a popular investment option for people seeking a low-risk, stable investment instrument. For a set tenure, FDs give a fixed interest rate on investments. FD interest rates are updated by banks on a regular basis.
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Axis Bank: Axis Bank provides interest rates ranging from 3% to 7.10% to general citizens and from 3% to 7.75% to the senior citizen.
IDBI Bank: IDBI Bank offers general consumers interest rates ranging from 3% to 6.8% on Fixed Deposits maturing in 7 days to 5 years, and 3.5% to 7.3% on Fixed Deposits that are maturing in 7 days to 5 years.
Kotak Mahindra Bank: Kotak Mahindra Bank is now offering an interest rate of 2.75% to 7.25% for general clients on deposits maturing in 7 days to 10 years. Whereas senior citizen will earn interest rates ranging from 3.25% to 7.75% these deposits.
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