Axis Bank hikes FD interest rate by up to 50 bps on selected tenors: Check latest rates

Axis Bank has hiked the fixed deposit (FD) interest rates on select tenures for deposits below Rs.2 crore with effect from June 16, 2022

Axis Bank have increased their FD rates after the Reserve Bank of India hiked repo rate by 50 basis points in its monetary policy.

According to the Axis Bank website, the interest rate remained unchanged for tenures below one year. Also, the interest rate on 5- to 10-year deposits has stayed constant at 5.75 percent

Fixed deposit interest rates are increased by 50 basis points from 5.25 percent to 5.75 percent for deposits maturing in one year 11 days to one year 25 days.

Deposits maturing in 15 months to less than two years will now pay 5.60 percent, up from 5.30 percent

Senior citizens will continue to earn 50 basis points on selected tenure more on their FDs than ordinary investors.

senior citizens will now get an interest rate of 2.50 percent to 6.50 percent on deposits maturing in 7 days to less than 10 years.