Axis Bank Revises Fixed Deposit (FD) Interest Rates
Private sector lender Axis Bank provides a range of fixed deposit maturities from seven days to 10 years. Axis Bank offers interest rates to the tune of 3.50-7.25 per cent to the general public on fixed deposit (FD) up to Rs. 2 crore, according to its website, axisbank.com. These interest rates on fixed deposits up to Rs. 2 crore are applicable with effect from March 20, 2019, according to Axis Bank's website. The bank pays slightly higher returns to senior citizen customers. In the same range of maturities, the bank pays interest at the rate of 3.50-7.75 per cent on FDs up to Rs. 2 crore, according to its portal.
Given below are the latest interest rates paid by Axis Bank on fixed deposits (FD) up to Rs. 2 crore:Â
| Interest rates on deposits below Rs. 2 crore (with effect from March 20, 2019) | ||
|---|---|---|
| Term | General public | Senior citizens |
| 7 days to 14 days | 3.5 | 3.5 |
| 15 days to 29 days | 3.5 | 3.5 |
| 30 days to 45 days | 5.5 | 5.5 |
| 46 days to 60 days | 6.25 | 6.25 |
| 61 days < 3 months | 6.25 | 6.25 |
| 3 months < 4 months | 6.25 | 6.25 |
| 4 months < 5 months | 6.25 | 6.25 |
| 5 months < 6 months | 6.25 | 6.25 |
| 6 months < 7 months | 6.75 | 7 |
| 7 months < 8 months | 6.75 | 7 |
| 8 months < 9 months | 6.75 | 7 |
| 9 months < 10 months | 7.1 | 7.35 |
| 10 months < 11 months | 7.1 | 7.35 |
| 11 months < 1 year | 7.1 | 7.35 |
| 1 year < 1 year 5 days | 7.3 | 7.95 |
| 1 year 5 days < 1 year 11 days | 7.3 | 7.95 |
| 1 year 11 days < 13 months | 7.3 | 7.95 |
| 13 months < 14 months | 7.35 | 8 |
| 14 months < 15 months | 7.3 | 7.95 |
| 15 months < 16 months | 7.3 | 7.95 |
| 16 months < 17 months | 7.3 | 7.95 |
| 17 months < 18 months | 7.3 | 7.95 |
| 18 Months < 2 years | 7.3 | 7.95 |
| 2 years < 30 months | 7.5 | 8.15 |
| 30 months < 3 years | 7.5 | 8 |
| 3 years < 5 years | 7.25 | 7.75 |
| 5 years to 10 years | 7.25 | 7.75 |
Fixed deposit interest rates are subject to change from time to time.Â
The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act, 1961.
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