Important news for Axis Bank customers! Interest increased on FD of less than 2 crores

Axis Bank FD Rates: Inflation has created a ruckus in the whole world including India. On 30 September, the Reserve Bank of India has decided to increase its repo rate for the fourth time in a row. This decision has a direct impact on the customers of the bank. Many banks have made their loans expensive. Along with this, banks have started increasing the interest rates of their savings accounts and fixed deposits.

Recently, the country’s largest private sector Axis Bank (Axis Bank FD Rates) has decided to increase the interest rates on its FDs of less than Rs 2 crore. Now the bank is offering 6.15% interest rate on FDs of 15 months to 2 years to ordinary citizens. At the same time, 6.90% rate of interest is being offered by the bank to senior citizens. Let us give you information about the interest rate available on Axis Bank deposits of less than Rs 2 crore-

The interest rate available to ordinary citizens on FD of less than 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 9 months -4.65%
• 9 to less than 1 year -4.75%
• 1 year 11 days to 1 year 25 days – 5.75%
• 1 year 25 days to 13 months -5.60%
• 13 months to 15 months- 5.60%
• 15 months to less than 2 years- 6.15%
• 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%

Senior citizens getting such interest rate on FD of less than 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 9 months-4.90%
• 9 months to less than 1 year -5.00%
• 1 year 11 days to 1 year 25 days – 6.20%
• 1 year 5 days to 11 months -6.50%
• 1 year 25 days to 13 months -6.35%
• 13 months to 15 months-6.35%
• 15 months to less than 2 years – 6.90%
• 2 years to before 30 months -6.45%
• 30 months to 3 years-6.45%
• 3 to 5 years- 6.45%
• 5 to 10 years -6.50%

RBI increased the repo rate so much
The Reserve Bank is continuously taking big steps to control the inflation rate in the country. In the Monetary Policy Committee meeting of RBI on 30 September, it has been decided that the repo rate will be increased by 0.50% for the fourth time in a row.

Now the repo rate has been increased from 5.40% to 5.90%. This decision of RBI will have a direct impact on the EMI of the loan of the common people and the interest rates of the deposit account. Now banks will increase their savings accounts and fixed deposits. Recently, ICICI Bank has also decided to increase the interest rate on its FDs less than 2 crores.

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