Financial institution FD Hike: Axis Financial institution has hiked the mounted deposit rate of interest on one tenure by 10 foundation factors (bps)for quantities under Rs 2 crore. The brand new fee is efficient from July 17, 2023, in line with the financial institution’s web site.
After the revision, Axis Financial institution presents rates of interest between 3.5% and seven.20% on tenures starting from 7 days to 10 years.
Newest Axis Financial institution mounted deposit rates of interest
The newest mounted deposit rates of interest provided by the financial institution is 3.50% for deposits maturing in 7 to 45 days and 4.00% for deposits maturing in 46 to 60 days. On deposits with maturities starting from 61 days to a few months, Axis Financial institution is now giving rates of interest of 4.50% and 4.75% for deposits with tenure 3 months to 6 months.
Deposits that mature in 6 to 9 months will obtain an rate of interest of 5.75%, and 6.00% curiosity will likely be paid on deposits that mature in 9 months to lower than a yr.
The financial institution presents 6.75% for mounted deposits maturing in a single yr, one yr, or one yr and 4 days, and 6.80% for deposits maturing in a single yr, 5 days to lower than 13 months. The financial institution presents give 7.10 % on deposits made for 13 months and underneath two years. Nonetheless, financial institution has now elevated on tenure of 16 months to lower than 17 months by 10 bps to 7.20%, which is the best rate of interest provided by the financial institution.
Axis Financial institution presents 7.05% on tenure of two years to lower than 30 months. Remaining tenure will earn a 7% rate of interest.
Axis Financial institution senior citizen rate of interest
After the revision, the financial institution will now provide an rate of interest between 3.50% to 7.95% on tenures starting from 7 days to 10 years. The very best rate of interest of seven.95% is obtainable on tenure of 16 months to lower than 17 months.
Untimely penalty on mounted deposits
In response to the Axis Financial institution web site, “You’ll be able to flexibly withdraw the cash from mounted deposits earlier than maturity topic to a penalty of 1.0%. Nonetheless, if you happen to want to withdraw the cash solely partially, then Axis Financial institution levies no penalty on first partial withdrawal of upto 25% of the principal quantity.”