New Delhi: The interest rate on fixed deposits under 2 crore rupees has increased at the private sector lender Axis Bank. This declaration was made by Axis Bank in response to the RBI’s repo rate increase of 25 basis points to 6.50 percent on Wednesday. Axis Bank now offers interest rates on deposits maturing in 7 days to 10 years that vary from 3.50 percent to 7 percent for the general public and from 6 percent to 7.75 percent for senior citizens as a result of the announcement.

The maximum return on deposits with a maturity of two years to thirty months is 8.01 percent for senior citizens and 7.26 percent for non-senior citizens. The updated rates are in effect as of today, February 11, 2023, according to the Axis Bank website. (Also Read: Money Earning Scheme: Invest in THESE SBI Mutual Funds Schemes to get Strong Profit- Check Return Calculator Here)

On fixed deposits that mature in the next seven to forty-five days, the bank is now offering an interest rate of 3.50 percent, while Axis Bank is now offering an interest rate of 4 percent on deposits that mature in the following forty-six to sixty days. (Also Read: PM-KISAN: THESE Farmers are not Eligible to get Benefits of Scheme- Check Details)

On deposits with maturities ranging from 61 days to three months and three months to six months, respectively, Axis Bank is now offering interest rates of 4.5 percent and 4.75 percent.

Now, interest on deposits that mature in 6 to 9 months will be paid at a rate of 5.75 percent, while interest on deposits that mature in 9 to 12 months will be paid at a rate of 6 percent.

The bank is currently offering an interest rate of 6.75 percent on fixed deposits maturing in one year to one year and a day, and a rate of 7.1 percent on deposits maturing in one year and a half to thirteen months.

Now, interest will be paid on deposits with maturities between 13 months and two years at a rate of 6.75 percent, and on deposits with maturities between two years and thirty months at a rate of 7.26 percent.

The interest rate on deposits with tenors ranging from 30 months to 10 years is now 7 percent at Axis Bank. Senior citizens will receive an additional interest rate on fixed deposits that mature in 6 months to 10 years, on top of the standard rates.