FD Rates Update: Kotak Mahindra Bank and Axis Bank have both revised their Fixed Deposit (FD) interest rates.
Kotak Mahindra Bank has reduced interest rates on select FD tenures by up to 30 basis points (bps).
This is the second time in April 2025 the bank has revised its FD rates. The new rates have come into effect from April 23, 2025.
Kotak Mahindra Bank Cuts FD Rates Again
Kotak Mahindra Bank has made another cut in its FD interest rates, effective April 23, 2025. Below are the revised rates:
365 to 389 days: Reduced from 7.10% to 6.80% (down 30 bps)
390 days (12 months 25 days): Reduced from 7.25% to 7.00%
391 days to 23 months: Reduced from 7.30% to 7.15%
23 months: Now 7.15%, earlier 7.25%
23 months 1 day to less than 2 years: Reduced from 7.15% to 7.05%
2 years to less than 3 years: Reduced from 7.15% to 6.90%
3 to 5 years: Reduced from 7.00% to 6.90%
Axis Bank Also Reduces FD Rates
Axis Bank has revised interest rates for both general customers and senior citizens on deposits of less than Rs 3 crore.
This rate cut comes after the RBI reduced the repo rate from 6.25% to 6% in its April 9, 2025 monetary policy meeting.
Following this move, many major banks including SBI, HDFC, ICICI, Yes Bank, IDFC First Bank, and Canara Bank have also cut FD rates.
Customers are now advised to compare interest rates carefully before investing.
Axis Bank FD Rates (Below Rs 3 Crore)
| Tenure | General Public | Senior Citizens |
|---|---|---|
| 7 – 14 days | 3.00% | 3.50% |
| 15 – 29 days | 3.00% | 3.50% |
| 30 – 45 days | 3.50% | 4.00% |
| 46 – 60 days | 4.25% | 4.75% |
| 61 days – <3 months | 4.50% | 5.00% |
| 3 – 3.24 months | 4.75% | 5.25% |
| 3.25 – <4 months | 4.75% | 5.25% |
| 4 – <6 months | 4.75% | 5.25% |
| 6 – <9 months | 5.75% | 6.25% |
| 9 – <1 year | 6.00% | 6.50% |
| 1 year – <1Y10D | 6.70% | 7.20% |
| 1Y11D – <13M | 6.70% | 7.30% |
| 13M – <15M | 6.70% | 7.50% |
| 15M – <18M | 7.25% | 7.75% |
| 18M – <2Y | 7.25% | 7.75% |
| 2Y – <3Y | 7.10% | 7.60% |
| 3Y – <5Y | 7.10% | 7.60% |
| 5Y – 10Y | 7.00% | 7.75% |
With many banks reducing FD interest rates, investors should compare options carefully to ensure they get the best possible returns on their deposits.
