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Business News/ Money / Personal Finance/  Axis Bank revises fixed deposit interest rates. Latest FD rates here
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Axis Bank revises fixed deposit interest rates. Latest FD rates here

Axis Bank offers a higher rate to senior citizens on select maturities

In January 2021, Axis Bank had announced the removal of penalty on premature closure of all new retail term deposits booked on or after 15 December 2020 for a tenure of 2 years or more.Premium
In January 2021, Axis Bank had announced the removal of penalty on premature closure of all new retail term deposits booked on or after 15 December 2020 for a tenure of 2 years or more.

Private sector lender Axis Bank has revised interest rates on fixed deposits (FDs) with effect from 18 March. Axis Bank offers FDs across different tenures, ranging from 7 days to 10 years.

After the latest revision, Axis Bank is offering an interest rate of 2.50% on FDs with maturity between 7 days and 29 days, 3% for FDs maturing between 30 days and less than 3 months, 3.5% for FDs between 3 months and less than 6 months.

For FDs maturing in six months to less than 11 months 25 days, Axis Bank gives a 4.40% interest rate. For 11 months 25 days to less than 1 year 5 days 5.15%, 1 year 5 days to less than 18 months 5.10%. For term deposits maturing in 18 months to less than 2 years, Axis Bank gives 5.25% interest.

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For long-term deposits maturing in 2 years to 5 years, Axis Bank offers an interest rate of 5.40%. And deposits maturing in 5 years to 10 years will fetch you an interest rate of 5.75%.

Axis Bank latest FD interest rates (below 2 crore) for general public with effect from 18 March

7 days to 14 days 2.50%

15 days to 29 days 2.50%

30 days to 45 days 3%

46 days to 60 days 3%

61 days < 3 months 3%

3 months < 4 months 3.5%

4 months < 5 months 3.5%

5 months < 6 months 3.5%

6 months < 7 months 4.40%

7 months < 8 months 4.40%

8 months < 9 months 4.40%

9 months < 10 months 4.40%

10 months < 11 months 4.40%

11 months < 11 months 25 days 4.40%

11 months 25 days < 1 year 5.15%

1 year < 1 year 5 days 5.15%

1 year 5 days < 1 year 11 days 5.10%

1 year 11 days < 1 year 25 days 5.10%

1 year 25 days < 13 months 5.10%

13 months < 14 months 5.10%

14 months < 15 months 5.10%

15 months < 16 months 5.10%

16 months < 17 months 5.10%

17 months < 18 months 5.10%

18 Months < 2 years 5.25%

2 years < 30 months 5.40%

30 months < 3 years 5.40%

3 years < 5 years 5.40%

5 years to 10 years 5.75%

Axis Bank FD rates for senior citizens

Axis Bank offers a higher rate to senior citizens on select maturities. Senior citizens will get an interest rate ranging from 2.5% to 6.50% on deposits maturing in 7 days to 10 years.

In January this year, the private lender had announced the removal of penalty on premature closure of all new retail term deposits booked on or after 15 December 2020 for a tenure of 2 years or more. According to the bank, the objective of this customer-friendly feature was to inculcate and encourage retail customers to go for long-term savings without worrying about the sudden need for liquidity. The new feature is applicable on all new fixed deposits and recurring deposits. For new deposits booked for a tenure above 2 years, there will be nil premature penalty if the entire deposit is prematurely withdrawn post 15 months of booking.

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Published: 22 Mar 2021, 08:24 AM IST
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