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Business News/ Money / Personal Finance/  FD rate hike: Axis Bank increases interest rates on fixed deposits. Details here
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FD rate hike: Axis Bank increases interest rates on fixed deposits. Details here

FD rate hike: Axis Bank offers FD rates of 3.50-7.85% p.a. to senior citizens on tenures ranging from 7 days to 10 years, effective from 5 February 2024

Axis Bank hikes fixed deposit rates: Axis Bank offers FD interest rates of 3.50-7.85% p.a. to senior citizens. (Mint)Premium
Axis Bank hikes fixed deposit rates: Axis Bank offers FD interest rates of 3.50-7.85% p.a. to senior citizens. (Mint)

FD rate hike: Axis Bank has hiked the fixed deposit interest rates for amounts below 2 crore. The new FD rate is effective from 5 February 2024. Earlier, the bank had revised interest rates on term deposits on 26 December 2023, according to the Axis Bank website. After the latest revision, Axis Bank offers FD rates of 3.50-7.20% p.a. to the general public on term deposits maturing in seven days to ten years.

Axis Bank has hiked rates on tenors from 17 months to less than 18 months by 10 basis points (bps). In other brackets, the bank has kept the rates unchanged. After the latest hike deposits maturing in 17 months to less than 18 months will fetch 7.20%.

Axis Bank latest FD rates

7 – 14 days 3.00

15 – 29 days 3.00

30 – 45 days 3.50

46 – 60 days 4.25

61 days < 3 months 4.50

3 months – 3 months 24 days 4.75

3 months 25 days < 4 months 4.75

4 months < 5 months 4.75

5 months < 6 months 4.75

6 months < 7 months 5.75

7 months < 8 months 5.75

8 months < 9 months 5.75

9 months < 10 months 6.00

10 months < 11 months 6.00

11 months – 11 months 24 days 6.00

11 months 25 days < 1 year 6.00

1 year – 1 year 4 days 6.70

1 year 5 days – 1 year 10 days 6.70

1 year 11 days – 1 year 24 days 6.70

1 year 25 days < 13 months 6.70

13 months < 14 months 6.70

14 months < 15 months 6.70

15 months < 16 months 7.10

16 months < 17 months 7.10

17 months < 18 months 7.20

18 Months < 2 years 7.10

2 years < 30 months 7.10

30 months < 3 years 7.10

3 years < 5 years 7.10

5 years to 10 years 7.00

Axis Bank's latest FD rates for Senior citizens

Axis Bank offers FD rates of 3.50-7.85% p.a. to senior citizens on tenures ranging from 7 days to 10 years. These rates are with effect from 5 February 2024.

PNB revises FD rates

Punjab National Bank (PNB) also revised rates on term deposits this month. After the latest revision, the bank is offering FD interest rates of 3.50-7.25% p.a. to the general public and 4.00-7.75% p.a. to senior citizens on tenures ranging from 7 days to 10 years. These rates are effective 1 February 2024.

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ABOUT THE AUTHOR
Sangeeta Ojha
A business media enthusiast. Writes on personal finance, business and banking.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 07 Feb 2024, 02:47 PM IST
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