Axis Bank has revised its Fixed Deposit (FD) interest rates following the Reserve Bank of India’s (RBI) repo rate changes.
This update places Axis Bank among other major banks like SBI, HDFC, and Indian Bank, which have also adjusted their FD rates.
Effective from June 19, 2024, the new rates offer general customers interest ranging from 3% to 7.20%, while senior citizens enjoy rates from 3.50% to 7.85%. These FDs range in tenure from 7 days to 10 years.
Interest Rates for FDs Less Than Rs 3 Crore
Here is a detailed breakdown of the updated interest rates for different FD tenures:
Short-Term FDs
7 days to 14 days:
General public: 3.00%
Senior citizens: 3.50%
15 days to 29 days:
General public: 3.00%
Senior citizens: 3.50%
30 days to 45 days:
General public: 3.50%
Senior citizens: 4.00%
46 days to 60 days:
General public: 4.25%
Senior citizens: 4.75%
61 days to less than 3 months:
General public: 4.50%
Senior citizens: 5.00%
3 months to less than 4 months:
General public: 4.75%
Senior citizens: 5.25%
4 months to less than 5 months:
General public: 4.75%
Senior citizens: 5.25%
5 months to less than 6 months:
General public: 4.75%
Senior citizens: 5.25%
6 months to less than 7 months:
General public: 5.75%
Senior citizens: 6.25%
7 months to less than 8 months:
General public: 5.75%
Senior citizens: 6.25%
8 months to less than 9 months:
General public: 5.75%
Senior citizens: 6.25%
9 months to less than 10 months:
General public: 6.00%
Senior citizens: 6.50%
10 months to less than 11 months:
General public: 6.00%
Senior citizens: 6.50%
11 months to less than 11 months 25 days:
General public: 6.00%
Senior citizens: 6.50%
11 months 25 days to less than 1 year:
General public: 6.00%
Senior citizens: 6.50%
Medium-Term FDs
1 year to less than 1 year 4 days:
General public: 7.00%
Senior citizens: 7.50%
1 year 5 days to less than 1 year 11 days:
General public: 7.00%
Senior citizens: 7.50%
1 year 11 days to less than 1 year 24 days:
General public: 7.00%
Senior citizens: 7.50%
1 year 25 days to less than 13 months:
General public: 7.00%
Senior citizens: 7.50%
13 months to less than 14 months:
General public: 7.00%
Senior citizens: 7.50%
14 months to less than 15 months:
General public: 7.00%
Senior citizens: 7.50%
15 months to less than 16 months:
General public: 7.10%
Senior citizens: 7.60%
16 months to less than 17 months:
General public: 7.10%
Senior citizens: 7.60%
17 months to less than 18 months:
General public: 7.20%
Senior citizens: 7.85%
18 months to less than 2 years:
General public: 7.10%
Senior citizens: 7.60%
Long-Term FDs
2 years to 30 months:
General public: 7.10%
Senior citizens: 7.60%
30 months to less than 3 years:
General public: 7.10%
Senior citizens: 7.60%
3 years to less than 5 years:
General public: 7.10%
Senior citizens: 7.60%
5 years to 10 years:
General public: 7.00%
Senior citizens: 7.75%
These revised rates by Axis Bank provide a range of options for both general customers and senior citizens, making it an attractive time to invest in FDs for better returns.
