Private sector lender Axis Bank provides a range of fixed deposit maturities from seven days to 10 years.
The bank offers interest rates to the tune of 3.50-7 per cent to the general public on fixed deposit (FD) up to Rs.
2 crore, according to its website, axisbank.com.
The bank pays slightly higher returns to senior citizen customers.
In the same range of deposits, Axis Bank pays interest at the rate of 3.5-7.5 per cent to senior citizens on FDs up to Rs.
2 crore.
These interest rates are applicable with effect from April 22, 2019, according to the lender's website.The following FD interest rates are applicable on deposits below Rs.
2 crore from April 22, 2019 according to axisbank.com:PeriodGeneral public (% p.a.)Senior citizen (% p.a.)7 days to 14 days3.53.515 days to 29 days3.53.530 days to 45 days5.55.546 days to 60 days6.256.2561 days < 3 months6.256.253 months < 4 months6.256.254 months < 5 months6.256.255 months < 6 months6.256.256 months < 7 months6.7577 months < 8 months6.7578 months < 9 months6.7579 months < 10 months7.17.3510 months < 11 months7.17.3511 months < 1 year7.17.351 year < 1 year 5 days7.37.951 year 5 days < 1 year 11 days7.37.951 year 11 days < 13 months7.37.9513 months < 14 months7.35814 months < 15 months7.37.9515 months < 16 months7.37.9516 months < 17 months7.37.9517 months < 18 months7.37.9518 Months < 2 years7.37.952 years < 30 months7.58.1530 months < 3 years7.583 years < 5 years7.257.755 years to 10 years77.5Fixed deposit interest rates are subject to change from time to time.
Earlier this month, HDFC Bank also revised its interest rates on fixed deposits.The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act, 1961.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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