Axis Bank has announced a hike in the interest rates on its fixed deposits (FDs). As displayed on its official website, the bank has only hiked FD’s interest rate with the tenure 1-year 11 days to less than 1-year 25 days. Customers investing in fixed deposits with this tenure will earn 5.3 percent. The new rate will be effective from March 21, 2022.
As per the information provided on the Axis Bank website, FDs with a tenure of two or less than five years will receive 5.40 percent, while with 5 years and up to ten years tenure will get 5.75 percent interest.
The bank will be giving 5.25 percent interest on the term deposits maturing in 18 months to less than two years, following the latest revised deposits for less than 2 years. Senior citizens will be paid 0.05 percent more on all the tenures. They will be getting an interest rate of 2.50 percent to 6.50 percent on deposits maturing in seven days to less than ten years.
