new Delhi. Axis Bank, one of the largest private sector banks, has revised interest rates on fixed deposits. The revised rates come into effect from 13 November. Axis Bank is the second private bank after HDFC to have changed its FD interest rates. Axis Bank has changed the FD interest rates of senior citizens, not just FDs. Let us also tell you what are the new interest rates of the bank ..
Short term interest rate
Axis Bank offers FDs for various tenures ranging from 7 days to 10 years. After the amendment, Axis Bank is offering 2.50 per cent interest rate on FDs with maturities ranging from 7 days to 29 days. The bank is offering 3 percent interest rate on FDs of 30 days and less than three months. FD interest rates between 3 months and less than 6 months have been kept at 3.5%.
Long term interest rate
Axis Bank is offering 4.40 per cent interest rate for six months and 11 months and 25 days less. The bank is offering 5.15 percent interest rate on FDs ranging from 11 months to 25 days to 1 year and 5 days. At the same time, 5.10 percent interest is being received on FDs of 1 year 5 days and less than 18 months. Axis Bank is paying 5.25% interest on FDs from 18 months to less than two years. Offering interest rates of 5.40 per cent and 5.50 per cent on maturity FDs of 2 years and less than 5 and 5 years to 10 years respectively.
Senior Citizen FD interest
Axis Bank is offering higher rates to senior citizens at select maturities. Offers interest rates ranging from 2.5% to 6.05% on deposits maturing from 7 days to 10 years to senior citizens. HDFC Bank has also revised the interest rates on FD on tenures effective from 13 November. The bank offers interest rates ranging from 2.5% to 5.50% on FDs maturing over a period of 7 days to 10 years.