Axis Bank raises interest rates on fixed deposits; see here for updated rates.

Axis Bank currently offers interest rates on 7-day to 10-year deposits ranging from 3.50 percent to 7.00 percent for the general public and from 6.00 percent to 7.75 percent for senior citizens.

On Wednesday, the Reserve Bank of India (RBI) raised its repo rate by 25 basis points to 6.50%, prompting private lender Axis Bank to increase rates on fixed deposits of less than Rs 2 crore. The new rates will become effective on February 11, 2023, per the Axis Bank website.

As a result of the recent increase in FD rates, Axis Bank offers interest rates on deposits maturing in 7 days to 10 years that range from 3.50 percent to 7.00 percent for the general public and from 6.00 percent to 7.75 percent for senior citizens.

The bank is now offering an interest rate of 3.50 percent on fixed deposits that mature within the next seven to forty-five days, while Axis Bank is now offering an interest rate of 4.00 percent on deposits that mature within the next forty-six to sixty days.

Axis Bank is now offering 4.50% and 4.75 % on deposits with maturities ranging from 61 days to three months and three months to six months, respectively.

Now, deposits maturing in 6 to 9 months will accrue interest at a rate of 5.75 percent, while those maturing in 9 to 12 months will accrue interest at a rate of 6.00 percent.

The bank is currently offering an interest rate of 6.75 percent on fixed deposits with terms of one year to one year and twenty-four days, and a rate of 7.10 percent on deposits with terms of one year and twenty-five days to thirteen months. Now, deposits with maturities between 13 months and two years will accrue interest at a rate of 6.75 percent, while deposits with maturities between two years and thirty months will accrue interest at a rate of 7.26 percent.

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Axis Bank is currently offering an interest rate of 7.00% on deposits with terms between 30 months and 10 years. Seniors will receive an additional rate of interest on fixed deposits maturing between six months and ten years beyond the standard rate.