Axis bank has revised interest rates a second time since January 2022. Axis Bank has revised its fixed deposit (FD) interest rates, latest rates will be effective from March 5, 2022.
According to the bank’s website, it has revised interest rates on FDs worth less than Rs 2 crore and above with different maturities.
According to the website for deposits below Rs 2 crore, FDs with a term of one to two years will now earn between 5.10-5.25%, while those with a tenure of two to less than five years will get 5.40%, and FDs with a tenure of 5 years and up to 10 years will fetch 5.75%.
Fixed deposit interest rates
Senior citizens FD rates
Axis Bank has also revised its FD rates for senior citizens. According to the bank’s website. Senior citizens will receive interest rates ranging from 2.5 percent to 6.50 percent on FD deposits maturing in 7 days to 10 years for deposits less than Rs 2 crore. A senior citizen can earn 5.75 percent per year on a one-year Axis Bank FD for deposits below Rs 2 crore.
Along with revising rates on domestic FDs, the bank has revised NRI and FCNR deposit rates also. According to Axis Bank FD rates, NRE deposits of up to Rs 2 crore for a one-two year tenure will earn between 5.10-5.25 percent.
(Your legal guide on estate planning, inheritance, will and more.
How to save tax for FY 2020-21.)
Download The Economic Times News App to get Daily Market Updates & Live Business News.