Axis Bank revised interest rates applicable to select term deposits - or fixed deposits - with effect from November 13. Currently, Axis Bank - the country's fourth largest private sector lender by market value - provides annual returns of 2.5 per cent on retail FDs of seven to 29 days, 3 per cent on those of 30 days to up to three months, and 3.5 per cent on those of three months to up to six months, according to its website - axisbank.com. Axis Bank provides slightly higher returns to senior citizens compared to other customers.
Here are the interest rates applicable to Axis Bank retail fixed deposits (up to Rs 2 crore) with effect from November 13:
| Interest Rate | ||
| Maturity Period | General Public | Senior Citizens |
|---|---|---|
| 7-14 days | 2.5% | 2.5% |
| 15-29 days | 2.5% | 2.5% |
| 30-45 days | 3% | 3% |
| 46-60 days | 3% | 3% |
| 61 days < 3 months | 3% | 3% |
| 3 < 4 months | 3.5% | 3.5% |
| 4 < 5 months | 3.5% | 3.5% |
| 5 < 6 months | 3.5% | 3.5% |
| 6 < 7 months | 4.4% | 4.65% |
| 7 < 8 months | 4.4% | 4.65% |
| 8 < 9 months | 4.4% | 4.65% |
| 9 < 10 months | 4.4% | 4.65% |
| 10 < 11 months | 4.4% | 4.65% |
| 11 months < 11 months 25 days | 4.4% | 4.65% |
| 11 months 25 days < 1 year | 5.15% | 5.4% |
| 1 year < 1 year 5 days | 5.15% | 5.8% |
| 1 year 5 days < 1 year 11 days | 5.1% | 5.75% |
| 1 year 11 days < 1 year 25 days | 5.1% | 5.75% |
| 1 year 25 days < 13 months | 5.1% | 5.75% |
| 13 < 14 months | 5.1% | 5.75% |
| 14 < 15 months | 5.1% | 5.75% |
| 15 < 16 months | 5.1% | 5.75% |
| 16 < 17 months | 5.1% | 5.75% |
| 17 < 18 months | 5.1% | 5.75% |
| 18 months < 2 years | 5.25% | 5.9% |
| 2 years < 30 months | 5.4% | 6.05% |
| 30 months < 3 years | 5.4% | 5.9% |
| 3 < 5 years | 5.4% | 5.9% |
| 5 < 10 years | 5.5% | 6% |
| (Source: axisbank.com) | ||
Private sector banks such as Axis review the interest rates on term deposits from time to time.
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