Money

Axis Bank hikes interest rate on fixed deposits for this tenure. Details here

Private lender Axis Bank has elevated interest charges on fixed deposits for tenure 1-year 11 days to lower than 1-year 25 days by 5 foundation factors to five.30%. The revised rate shall be relevant from 21 March.

The interest charges for all different tenures stay the identical. Last, they had been revised on 17 March.

According to information accessible with the Axis Bank web site, the sooner rate for the identical tenure is 5.25%. For senior residents, the rate is revised upward to five.80%. Senior residents get 0.50% extra interest on all of the tenures.

Axis Bank presents the very best interest rate of 5.75% on fixed deposit of tenure from 5 years to 10 years.

The non-public lender has revised interest charges on FDs throughout tenures not too long ago. After the newest revision on 17 March on deposits lower than 2 crores, for time period deposits maturing in 18 months to lower than 2 years, Axis Bank provides 5.25% interest.

For deposits for 2 years however lower than 30 months, Axis Bank provides 5.40% interest. For long-term deposits maturing in additional than 3 years to lower than 5 years, Axis Bank presents 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 FD charges for senior residents

Senior residents will get an interest rate starting from 2.5% to six.50% on deposits maturing in 7 days to 10 years.

Earlier, banks just like the State Bank of India (SBI), HDFC Bank, Bank of Baroda and Canara Bank revised their FD interest charges.

(With inputs from ANI)

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