FD investors, rejoice! Axis Bank Raises Fixed Deposit Rates, Check Latest Rates | Personal finance news


New Delhi: Following the Reserve Bank of India (RBI) decision to raise the repo rate by 40 basis points, another lender has now moved to raise interest rates on Fixed Deposit Investments (FD ). This time, Axis Bank raised interest rates on FD investments. The private lender has increased the interest rate for FD investments with a term of more than nine months.

Axis Bank’s new interest rates take effect on May 12, 2022. With the latest increase in FD rates, investors will now earn returns of between 2.5% and 5.75%, depending on the term of the deposit .

Latest Axis Bank FD Rates

Axis Bank has raised the interest rate on FD investments maturing from 9 months to less than one year to 4.75%. The private lender also raised the interest rate on FDs maturing between one year and 15 months to 5.25%.

In addition, investors will earn returns of 5.30% and 5.60% on term deposit investments with maturities between 15 months and less than 2 years and between 2 years and less than 5 years, respectively. .

Axis Bank has also increased the interest rate on term deposit investments with a maturity of between 5 and 10 years to 5.75%. The mentioned interest rates are applicable for investments worth Rs 2 crore or less. Read also: Periodic leave: Spain is the 1st Western country to offer allowances, what is the rule in India – in photos

Seniors will get more returns on FD investments

Seniors will continue to earn an additional 0.50% return on FD investments. With the latest revision, seniors will receive returns ranging from 2.50% to 6.50% from FD investments maturing within seven days to less than 10 years. Also read: Big update for pensioners! The government increases by 13% the aid for high cost, the amount of the check, arrears and other family benefits

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