Important news for Axis Bank and BOI customers! Interest increased on FD, see new rates here

Axis Bank FD Rates: Inflation has created an outcry all over the world including India. In such a situation, central banks are increasing their interest rates to control inflation. 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 banks Axis Bank (Axis Bank fd Rates) and Government Bank of India (Bank of India) have decided to increase the interest rates on their FDs less than Rs 2 crore. The new rates of both the banks will be applicable from 1 October 2022. Let us give you information about the interest rate available on FD Rates of less than Rs 2 crore of Axis Bank and Bank of India-

Axis Bank 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%

Axis Bank Senior Citizen is 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%

Bank of India is getting such interest rate on FD of less than Rs 2 crore for ordinary citizens-

• 7-14 days-2.85%
• 15-30 days-2.85%
• 31-45 days-2.85%
• 45-90 days-3.85%
• 91-179 days-3.85%
• 180-269 days-4.35%
• FDs from 270 days to less than 1 year – 4.35%
• 1 year 554 days-5.50%
• 555 day FD – 6.05%
• 556 to 2 year FD – 5.50%
• 2 to 3 years-5.50%
• FD of 3 to 5 years – 6.00%
• FD of 5 to 8 years – 5.75%
• FDs from 8 years to 10 years – 5.75%

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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