Axis Bank revises FD interest rates on select rates

Axis Bank has revised interest rates on fixed deposits (FDs) for select tenors. These rates will be effective from January 20, 2022. As per the bank’s site, it has revised interest rates on FDs worth not as much as ₹2 crore with various maturities.

As per the website, FDs with a term of one to two years will currently earn between 5.10-5.25%, while those with a tenure of two to under five years will get 5.40%, and FDs with a tenure of 5 years and as long as 10 years will get 5.75%.

Axis bank has revised the FD rates for senior citizens also. According to the bank’s site, On FD deposits maturing in 7 days to 10 years, senior citizens will get loan costs going from 2.5 percent to 6.50 percent for stores beneath ₹2 crore. A one-year Axis Bank FD will bring 5.75% per annum to a senior citizen.

Alongside FD rates the bank has climbed NRI and FCNR deposit rates. According to Axis Bank FD rates, NRE deposits of up to ₹2 crore for residency of 1 year will bring 5.10%.

Last week, the State Bank of India (SBI), HDFC Bank and Canara Bank hiked fixed deposit interest rates.