After the revision in fixed deposit interest rates, interest on FDs with tenures between two years and 30 months has been reduced by 10 basis points. As a result, while it was 7.20 percent earlier, it has now reached 7.10 percent. And Rs. Note that these interest rates are applicable on deposits below 2 crores.
After the revision, Axis Bank currently offers a minimum of 3.5 percent to a maximum of 7.10 percent interest on tenors of 7 days to 10 years. Earlier, Axis Bank revised FD interest rates on August 18 as well. Then interest rates on tenures of 16 months to 17 months were reduced by 20 basis points from 7.30 percent to 7.20 percent.
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Now Axis Bank will get 3.50 percent interest on deposits with a tenure of 7 to 45 days. 4 percent interest is being offered on tenures of 46 to 60 days. 61 days to 3 months, 3 months to 6 months and 4.50 and 4.75 percent interest respectively. The bank is offering the highest interest rate of 7.10 percent on all tenors of 13-14 months, 14-15 months, 15-16 months, 16-17 months, 17-18 months, 18 months to two years and two years to 30 months. Only 7 percent interest is given on tenures longer than this. The same amount of interest is coming on deposits within 5 years to 10 years.
More profit for senior citizens..
It is a known fact that in any bank, senior citizens have slightly higher interest. They usually get 50 basis points more on FDs compared to regular deposits. They are getting interest from 3.50 percent to 7.85 percent on tenured deposits of 7 days to 10 years. 13 months to 30 months term fixed deposits are getting highest interest of 7.85 percent.
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