Axe Bank interest rate raised by 25 basis points below 2 Crore Fd New rates from 9 September 2022

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Increase in the FD rate of the axis rates: The largest private sector bank in the country (Axis Bank) has decided to increase its fixed deposit rates. The bank increased its deposits by 25 basis points on FD below Rs 2 crore. The new rates increased by the bank came into effect from September 9, 2022, i.e. Friday. In order to control rising inflation in the country, the Reserve Bank of India has raised the repo rate three times in the last 4 months. The repo rate went from 4.00% (RBI Repo Rate) to 5.40%.

The increase in the repo rate has a direct impact on the interest rate of the bank’s lending and deposit rates. In the recent past, many banks including State Bank of India, Punjab National Bank, Canara Bank, HDFC Bank, ICICI Bank have changed their lending and deposit rates like savings account interest rate ( savings bank interest rate) and FD rates were decided. increase. Now the name of Axis Bank has also been added to this list. Axis Bank has offered interest rates ranging from 2.75% to 5.75% for 7 days to 10 years on FDs under Rs 2 crore to its ordinary citizens. Let us know by what percentage the bank has increased the interest rate over different periods-

Changes to FD rates for these periods-
According to the information given on the official website of Axis Bank, the bank increased its FD by 25 basis points from 7 days to 29 days. It went from 2.50% to 2.75%. There was also a 25 basis point increase from 30 days to 3 months. This interest rate went from 3.00% to 3.25%. At the same time, the FD interest rate for 3 to 6 months rose from 3.50% to 3.75%.

Interest on FD of Rs 2 crore

  • 7-14 days – 2.75%
  • 15-29 days – 2.75%
  • 30-45 days – 3.25%
  • 46-60 days – 3.25%
  • 61 days to less than 3 months – 3.25%
  • 3 to 6 months – 3.75%
  • 6 to 7 months – 4.65%
  • 7 to 8 months – 4.40%
  • 8 to 9 months – 4.65%
  • 9 to 10 months – 4.75%
  • 10 to 11 months – 4.75%
  • 11 months to 11 months 25 days – 4.75%
  • 11 months to before 1 year – 4.75%
  • 1 year to 1 year 5 days – 5.45%
  • 1 year 5 days to 1 year 11 days – 5.54%
  • 1 year 25 days to 13 months – 5.60%
  • 13 months to 18 months – 5.60%
  • 18 months to less than 2 years – 5.60%
  • 2 years to before 30 months – 5.70%
  • 30 months to 3 years – 5.70%
  • 3 to 5 years – 5.70%
  • 5 to 10 years – 5.75%

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