Axis Bank fixed deposit rates: Axis Bank revised interest rates applicable to select term deposits – or fixed deposits – with effect from November 13. Currently, Axis Bank – the country’s fourth-largest private sector lender by market value – provides annual returns of 2.5 percent on retail FDs of seven to 29 days, 3 percent on those of 30 days to up to three months, and 3.5 percent on those of three months to up to six months, according to its website – axisbank.com. Axis Bank provides slightly higher returns to senior citizens compared to other customers.
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Here are the interest rates applicable to Axis Bank retail fixed deposits (up to ₹ 2 crores) with effect from November 13:
7 days to 14 days 2.50%
15 days to 29 days 2.50%
30 days to 45 days 3%
46 days to 60 days 3%
61 days < 3 months 3%
3 months < 4 months 3.5%
4 months < 5 months 3.5%
5 months < 6 months 3.5%
6 months < 7 months 4.40%
7 months < 8 months 4.40%
8 months < 9 months 4.40%
9 months < 10 months 4.40%
10 months < 11 months 4.40%
11 months < 11 months 25 days 4.40%
11 months 25 days < 1 year 5.15%
1 year < 1 year 5 days 5.15%
1 year 5 days < 1 year 11 days 5.10%
1 year 11 days < 1 year 25 days 5.10%
1 year 25 days < 13 months 5.10%
13 months < 14 months 5.10%
14 months < 15 months 5.10%
15 months < 16 months 5.10%
16 months < 17 months 5.10%
17 months < 18 months 5.10%
18 Months < 2 years 5.25%
2 years < 30 months 5.40%
30 months < 3 years 5.40%
3 years < 5 years 5.40%
5 years to 10 years 5.50%
Private sector banks such as Axis review the interest rates on term deposits from time to time.
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.Axis Bank FD rates for senior citizens
Axis Bank offers a higher rate to senior citizens on select maturities. Senior citizens will get an interest rate ranging from 2.5% to 6.05% on deposits maturing in 7 days to 10 years.
Another private lender, HDFC Bank, too revised interest rates on FDs on selected tenures with effect from 13 November. The bank offers interest rates from 2.5% to 5.50% on FDs maturing in 7 days to 10 years.
Mean-while, India detected 29,164 cases of the novel coronavirus on Monday, taking the country’s tally to 88.74 lakh. The last time India reported less than 30,000 cases was in mid-July. The drop in cases follows a pattern of low detections on Mondays due to lesser testing over the weekend. In fact, tests have remained below 10 lakh for the last four days now.
India’s tally of 88,74,291 includes 4,53,401 active cases, 82,90,371 patients who have recovered, and 1,30,519 deaths — the toll has been under 450 for three straight days.
American biotech company Moderna Monday announced its vaccine candidate against the novel coronavirus had shown the efficacy of 94.5 percent. The company does not currently have the arrangement to supply its vaccine in India. Experts told The Indian Express Moderna’s candidate could have an edge over Pfizer’s.
