With effect from March 18, private sector lender Axis Bank has amended interest rates on fixed deposits (FDs). Axis Bank sells FDs with terms ranging from seven days to ten years. Following the most recent revision, Axis Bank now offers 2.50 percent interest on FDs maturing between 7 and 29 days, 3% for FDs maturing between 30 days and less than 3 months, and 3.5 percent for FDs maturing between 3 months and less than 6 months.
Axis Bank offers a 4.40 percent interest rate on FDs maturing in six months to less than eleven months and twenty-five days. 5.15 percent for 11 months 25 days to less than 1 year 5 days, and 5.10 percent for 1 year 5 days to less than 18 months Axis Bank pays 5.25 percent interest on term deposits that mature in 18 months to less than two years.
Axis Bank offers a 5.40 percent interest rate on long-term deposits maturing in two to five years. Deposits with a maturity period of 5 to 10 years will earn you 5.75 percent interest.
With effect from March 18, these Axis Bank FD interest rates (below 2 crores) for the general public will be followed:
| Amount of Time | Interest Rate |
| 7 days to 14 days | 2.50% |
| 15 days to 29 days | 2.50% |
| 30 days to 45 days | 3% |
| 46 days to 60 days | 3% |
| 61 days < 3 months | 3% |
| 3 months < 4 months | 3.50% |
| 4 months < 5 months | 3.50% |
| 5 months < 6 months | 3.50% |
| 6 months < 7 months | 4.40% |
| 7 months < 8 months | 4.40% |
| 8 months < 9 months | 4.40% |
| 9 months < 10 months | 4.40% |
| 10 months < 11 months | 4.40% |
| 11 months < 11 months 25 days | 4.40% |
| 11 months 25 days < 1 year | 5.15% |
| 1 year < 1 year 5 days | 5.15% |
| 1 year 5 days < 1 year 11 days | 5.10% |
| 1 year 11 days < 1 year 25 days | 5.10% |
| 1 year 25 days < 13 months | 5.10% |
| 13 months < 14 months | 5.10% |
| 14 months < 15 months | 5.10% |
| 15 months < 16 months | 5.10% |
| 16 months < 17 months | 5.10% |
| 17 months < 18 months | 5.10% |
| 18 Months < 2 years | 5.25% |
| 2 years < 30 months | 5.40% |
| 30 months < 3 years | 5.40% |
| 3 years < 5 years | 5.40% |
| 5 years to 10 years | 5.75% |
Axis Bank FD rates for senior citizens
On certain maturities, Axis Bank gives senior citizens a higher rate. On deposits maturing in 7 days to 10 years, senior citizens will receive interest rates ranging from 2.5 percent to 6.50 percent. The private lender announced in January that all new retail term deposits booked on or after 15 December 2020 for a tenure of two years or more would no longer be subject to a penalty if they were prematurely closed.
The goal of this customer-friendly feature, according to the bank, was to instill and inspire retail customers to save for the long term rather than worrying about a sudden need for liquidity. All new fixed deposits and recurring deposits will be eligible for the new feature. If the entire deposit is prematurely withdrawn after 15 months of booking for new deposits with a tenure of more than 2 years, there will be no penalty.
