India’s fourth-largest private lender Axis Bank has amended interest rates on Fixed Deposits resulting from 13th November. They offer FD’s with maturities fluctuating from seven days to 10 over 10 years consequently.
Earlier the revised interest rates were updated on August 26. As per the latest news, for the time era ranging from 30-45 days, the bank is presenting an interest rate of 3 per cent while the before time interest rate used to be 2.5 %.this bought a major relief to the people.
The interest rate has been cut down to 3.40% from the beforehand 4.00% for the time ranging from three months to six months. Further, the bank has even slashed the interest rate for the period of nine to even months 25 days, from 4.50% to 4.40%. For FD’s maturing in six months to less than 11 months 25 days, the lender offers a 4.40 % interest rate while for 11 months 25 days to less than 1 year 5 days it offers 5.15% on the other hand for 1 year 5 days to less than 18 months it is 5.10%. The bank has kept the rest of the rates unchanged for the fixed deposits ranging from 6 months to less than 9 months and then 11 months 25 days to 10 years consecutively.
For term deposits maturing in 18 months to less than 2 years, Axis Bank offers 5.25% interest. For the long-term deposits evolving in 2 years to 5 years, and 5 years to 10 years, Axis Bank offers an interest rate of 5.40% and 5.50% respectively.
As a major consolation to the senior citizen’s Axis Bank offers interest rates ranging from 2.5% to 5.50% on FD’s maturing in 7 days to 10 years.