One of the leading private-sector lenders, Axis Bank has increased its fixed deposit or FD interest rates for the selected investors who have chosen these specific FD plans. Axis bank hike is following the series of FD interest rate hikes by the major private and public sector banks of the country due to the increase in repo rates by The Reserve Bank of India.
FD Interest Rates Hike For Selected Tenures
For the FDs having tenures of over nine months, these new interest rates will be effective for them. With this hike, the FD interest rates of Axis Bank will show a difference of 10-35 basis points, depending on the tenure completely. Apart from the benefit of the new hike, the senior citizens will continue to get the bonus of 0.50 percent extra interest rate.
The new hike will be in effect from May 12, 2022, and will be applicable for the FDs worth below ₹2 Cr as per the Bank’s notification.
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So, Take A Look At These Hiked FD Rates For Different Tenures Of Axis Bank:
| FD Tenures | Interest Rates in % For Regular Citizens | Interest Rates in % For Senior Citizens |
| 7-14 days | 2.50 | 2.50 |
| 15-29 days | 2.50 | 2.50 |
| 30-45 days | 3.00 | 3.00 |
| 46-60 days | 3.00 | 3.00 |
| 61 days – less than 3 months | 3.00 | 3.00 |
| 3 months – less than 4 months | 3.50 | 3.50 |
| 4 months – less than 5 months | 3.50 | 3.50 |
| 5 months – less than 6 months | 3.50 | 3.50 |
| 6 months – less than 7 months | 4.40 | 4.65 |
| 7 months – less than 8 months | 4.40 | 4.65 |
| 8 months – less than 9 months | 4.40 | 4.65 |
| 9 months – less than 10 months | 4.75 | 5.00 |
| 10 months – less than 11 months | 4.75 | 5.00 |
| 11 months 25 days – less than 1 year | 4.75 | 5.00 |
| 1 year – less than 1 year 5 days | 5.25 | 5.90 |
| 1 year 5 days – less than 1 year 11 days | 5.25 | 5.90 |
| 1 year 11 days – less than 1 year 25 days | 5.25 | 5.90 |
| 1 year 25 days – less than 13 months | 5.25 | 5.90 |
| 13 months – less than 14 months | 5.25 | 5.90 |
| 14 months – less than 15 months | 5.25 | 5.90 |
| 15 months – less than 16 months: | 5.30 | 5.95 |
| 16 months – less than 17 months | 5.30 | 5.95 |
| 17 months – less than 18 months | 5.30 | 5.95 |
| 18 months – less than 2 years | 5.30 | 5.95 |
| 2 years – less than 30 months | 5.60 | 6.25 |
| 30 months – less than 3 years | 5.60 | 6.25 |
| 3 years – less than 5 years | 5.60 | 6.25 |
| 5 years – 10 years | 5.75 | 6.50 |
