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Axis Bank Revises FD Interest Rates Below Rs 2 Cr, Now offers Upto 8.01% Interest To Senior Citizens
Axis Bank, a private sector bank, has modified the interest rates on fixed deposits (FDs) under Rs 2 crore. The modified interest rates on FDs are effective as of April 4, 2023, according to the bank's official website.
After the modification, the bank now offers interest rates on FDs with maturities ranging from 7 days to 10 years that fall between 3.50% to 7.26% for the general public and 3.50% to 8.01% for senior citizens, respectively.
On the deposit tenure of 2 years to 30 months, the bank offers a maximum interest rate of 7.26% for the general public and 8.01% for senior citizens.
Interest Rates on Domestic Deposits Below Rs 2 Cr w.e.f. April 04, 2023
| Sr.No. | Period | Genral Public Rates (% p.a.) | Senior Citizens Rates (% p.a.) |
|---|---|---|---|
| 1 | 7 days to 14 days | 3.5 | 3.5 |
| 2 | 15 days to 29 days | 3.5 | 3.5 |
| 3 | 30 days to 45 days | 3.5 | 3.5 |
| 4 | 46 days to 60 days | 4 | 4 |
| 5 | 61 days | 4.5 | 4.5 |
| 6 | 3 months | 4.75 | 4.75 |
| 7 | 4 months | 4.75 | 4.75 |
| 8 | 5 months | 4.75 | 4.75 |
| 9 | 6 months | 5.75 | 6 |
| 10 | 7 months | 5.75 | 6 |
| 11 | 8 months | 5.75 | 6 |
| 12 | 9 months | 6 | 6.25 |
| 13 | 10 months | 6 | 6.25 |
| 14 | 11 months to 11 months 24 days | 6 | 6.25 |
| 15 | 11 months 25 days | 6 | 6.25 |
| 16 | 1 year to 1 year 4 days | 6.75 | 7.5 |
| 17 | 1 year 5 days to 1 year 10 days | 6.75 | 7.5 |
| 18 | 1 year 11 days to 1 year 24 days | 6.75 | 7.5 |
| 19 | 1 year 25 days | 7.1 | 7.85 |
| 20 | 13 months | 7.15 | 7.9 |
| 21 | 14 months | 7.15 | 7.9 |
| 22 | . 15 months | 7.15 | 7.9 |
| 23 | 16 months | 7.15 | 7.9 |
| 24 | 17 months | 7.15 | 7.9 |
| 25 | 18 Months | 7.15 | 7.9 |
| 26 | 2 years | 7.25 | 8.01 |
| 27 | 30 months | 7 | 7.75 |
| 28 | 3 years | 7 | 7.75 |
| 29 | 5 years to 10 years | 7 | 7.75 |
Source - Axisbank.com
You don't need to open a savings account with Axis Bank to open FD Digital Fixed Deposit. A minimum of 5,000 rupees is required to open an online fixed deposit with Axis Bank, and the term can range from seven days to 10 years. No penalty for pre-mature withdrawal (up to 25%.) You can choose between options for FD interest payout, such as monthly, quarterly, or at maturity, depending on your need for income.
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