Home / Industry / Banking /  Axis Bank revises interest rates on these fixed deposits: Check details here

The private sector lender Axis Bank has revised its interest rates on bulk deposits of 2 Cr and above. As per the official websites of the bank, the new rates are effective as of 26th September 2022. Following the revision, the bank is now offering an interest rate ranging from 3.75% to 6.90% for deposits of 2 Cr and 5 Cr and 4.65% to 6.90% on fixed deposits maturing in 50 Cr to 100 Cr and above.

Axis Bank Bulk FD Rates

On deposits of 2 Cr to 50 Cr, Axis Bank is offering an interest rate ranging from 3.75% to 6.90% on fixed deposits maturing in 7 days to 10 years. On fixed deposits maturing in 1 year to 10 years, the bank will offer a maximum interest rate of 6.90%. On fixed deposits of 50 Cr to 100 Cr and above the bank is offering an interest rate ranging from 4.65% to 6.90%. whereas on deposits maturing in 1 year to 10 years the bank will offer a maximum interest rate of 6.90%. The "Fixed Deposit Plus" where premature withdrawal is not allowed is subject to these interest rates.

Axis Bank Bulk FD Rates
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Axis Bank Bulk FD Rates (axisbank.com)

Axis Bank Non-Resident External (NRE) Deposits

Axis Bank has also revised its interest rates on Non-Resident External (NRE) Deposits of 2 Cr and above. Following the revision, the bank is offering an interest rate of 6.90% on fixed deposits of more than 2 Cr to 100 Cr. Whereas on deposits of 100 Cr and above maturing in 1 year to 3 years the bank is offering an interest rate of 6.90% and on deposits maturing in 3 years to less than 5 years, the bank is now offering a maximum interest rate of 7.30%.

Axis Bank Non-Resident External (NRE) Deposits
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Axis Bank Non-Resident External (NRE) Deposits (axisbank.com)

Customers should be aware that Axis Bank last modified its interest rates on fixed deposits of less than 2 Cr on September 20,2022. Following the amendment, the bank is now providing fixed deposits with maturities ranging from 7 days to 10 years with interest rates ranging from 2.75 to 5.75% for the general public and 2.75 to 6.50% for senior citizens. The bank now offers a maximum interest rate of 5.75% for the general public and 6.50% for senior citizens on deposits maturing in 5 to 10 years.

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