The private sector lender Axis Bank has hiked interest rates on fixed deposits of less than ₹2 Cr. As per the official website of the bank, the new interest rates are effective from 11/08/2022. Following the revision, the bank has hiked the interest rates on fixed deposits maturing in 17 months to less than 18 months.
Axis Bank FD Rates
On fixed deposits maturing in 7 days to 29 days, the bank will continue to offer an interest rate of 2.50% and on fixed deposits maturing in 30 days to 3 months, the bank will continue to offer an interest rate of 3.00%. On term deposits maturing in 3 months to 6 months, Axis Bank will continue to offer an interest rate of 4.65% and on term deposits maturing in 7 months to 8 months, the bank will continue to offer an interest rate of 4.40%. Fixed deposits maturing in 8 months in 9 months will continue to offer an interest rate of 4.65% and fixed deposits maturing in 9 months to 1 year will continue to offer an interest rate of 4.75%.
On fixed deposits maturing in 1 year to 1 year, 11 days will continue to offer an interest rate of 5.45% and on term deposits maturing in 1 year 11 days to 1 year 25 days, the bank will continue to offer an interest rate of 5.75%. Axis Bank will continue to offer an interest rate of 5.60% on fixed deposits maturing in 1 year 25 days to 17 months the bank will continue to offer an interest rate of 5.60%. On fixed deposits maturing from 17 months to 18 months, the bank has hiked the interest rate from 5.60% to 6.05%.
On fixed deposits maturing in 18 Months to 2 years, the bank will continue to offer an interest rate of 5.60%. On fixed deposits maturing in 2 years to 5 years, the bank will continue to offer an interest rate of 5.70% and on fixed deposits maturing in 5 years to 10 years, the bank will continue to offer an interest rate of 5.75%.
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SBI has increased interest rates on fixed deposits under ₹2 crore. According to the bank’s official website, the new rates are effective as of August 13, 2022. The revision has enabled SBI to raise interest rates by 15 basis points for multiple tenors. On the other hand, the Central Bank of India raised interest rates across all tenors by 10 bps, the new rates are in force from 10th August 2022 of Central Bank of India.
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