Axis Bank Alters Interest Rates On Bulk Fixed Deposits, Now Get Up To 7.50%; Check Rates Here

Axis Bank, a leading private sector lender, alters its interest rates on fixed deposits on bulk deposits of Rs 5 crore to Rs 100 crore and above This comes days after the Reserve Bank of India's monetary policy committee meeting, where the repo rate kept unchanged to 6.50% after 6 consecutive rises since May 2022. The new rates are in effect as from Tuesday, 18 April 2023, according to the Axis Bank's official website.

Following the modification, the bank now offers interest rates on deposits maturing in 7 days to 10 years that range from 5.50% to 7.25% for the general public for deposits Rs 5 crore to 10 crores, and Rs 10 Crore to 24.75 crores. Whereas, for deposits of Rs 24.75 crore to Rs 25 crore, the interest rate ranges between 4.75% to 5%.

On deposits above Rs 25 crore to Rs 50 crore the interest rate ranges from 5.50% to 7.40%. The bank provides additional interest rates on senior citizens' deposits. On a deposit of Rs 50 crore to Rs 100 crore and above, the interest rate ranges from 5.50% to 7.50%. The bank provides additional interest rates on senior citizens' deposits.

Interest Rates on Domestic Deposits 5 Crores and above w.e.f. 18 April 2023

Tenure	Rs. 5 Cr	Rs. 10 Cr	Rs. 24.75 Cr	Rs. 25 Cr	Rs. 50 Cr	Rs 100 cr and above
7 days to 14 days	5.5	5.5	4.75	5.5	5.5	5.5
15 days to 29 days	5.5	5.5	4.75	5.5	5.5	5.5
30 days to 45 days	5.55	5.55	4.75	5.55	5.55	5.55
46 days to 60 days	5.8	5.8	4.75	5.8	5.8	5.8
61 days	6.25	6.25	4.75	6.25	6.25	6.25
3 months	6.5	6.5	4.75	7	7	7
4 months	6.5	6.5	4.75	7	7	7
5 months	6.5	6.5	4.75	7	7	7
6 months	6.65	6.65	4.75	7	7	7
7 months	6.65	6.65	4.75	7	7	7
8 months	6.65	6.65	4.75	7	7	7
9 months	6.75	6.75	5	7.15	7.15	7.15
10 months	6.75	6.75	5	7.15	7.15	7.15
11 months to 11 months 24 days	6.75	6.75	5	7.15	7.15	7.15
11 months 25 days	6.75	6.75	5	7.15	7.15	7.15
1 year to 1 year 4 days	7.25	7.25	5	7.4	7.5	7.5
1 year 5 days to 1 year 10 days	7.25	7.25	5	7.4	7.4	7.4
1 year 11 days to 1 year 24 days	7.25	7.25	5	7.4	7.4	7.4
1 year 25 days	7.25	7.25	5	7.4	7.4	7.4
13 months	7.25	7.25	5	7.4	7.4	7.4
14 months	7.25	7.25	5	7.4	7.4	7.4
15 months	7.15	7.15	5	7.25	7.25	7.25
16 months	7.15	7.15	5	7.25	7.25	7.25
17 months	7.15	7.15	5	7.25	7.25	7.25
18 Months	7.15	7.15	5	7.25	7.25	7.25
2 years	7	7	5	7	7	7
30 months	7	7	5	7	7	7
3 years	7	7	5	7	7	7
5 years to 10 years	7	7	5	7	7	7

Source - axisbank.com

Note - For Senior Citizens' interest rates offered by the bank on the bulk FDs, please check the bank's website or pay a visit to the nearest branch of the bank.