Axis Bank has increased its Fixed Deposit interest rates, offering improved returns on savings for customers, ahead of the RBI Monetary Policy Committee (MPC) meeting in February 2025. With an anticipated repo rate cut from the RBI, Axis Bank has buzzed ahead of others in announcing FD rates to general investors as well as senior citizens.
The new rates will be effective from January 27, 2025, for different tenures from 7 days to 10 years, allowing customers to invest in alignment with their financial goals.
Why Axis Bank’s FD Rate Revision Matters
Locking money into an FD with a high yield ensures safety and returns concerning altered demands of inflation and economic shifts. Now, Axis Bank’s updated rates range from 3% to 7.25% for general customers and 3.50% to 7.75% for senior citizens, thus making it a worthy option for risk-averse investors. Exclusive higher rates attract senior citizens so that their hard-earned money appreciates faster.
Axis Bank FD Rates (Below ₹3 Crore)
Here’s a detailed look at the latest Axis Bank FD interest rates across tenures:
- 7 days to 14 days: 3.00% (General) | 3.50% (Senior Citizens)
- 15 days to 29 days: 3.00% | 3.50%
- 30 days to 45 days: 3.50% | 4.00%
- 46 days to 60 days: 4.25% | 4.75%
- 61 days to <3 months: 4.50% | 5.00%
- 3 months to <6 months: 4.75% | 5.25%
- 6 months to <9 months: 5.75% | 6.25%
- 9 months to <11 months: 6.00% | 6.50%
- 1 year to <18 months: 6.70%–7.25% | 7.20%–7.75%
- 18 months to 3 years: 7.10% | 7.60%
- 5 years to 10 years: 7.00% | 7.75%
Highlighted Opportunity: Deposits locked for 15–18 months now yield the highest returns at 7.25% (general) and 7.75% (seniors), ideal for mid-term financial planning.
RBI’s Future Decision: The Consequences for Savings
FD rates typically witness a pre-emptive change ahead of RBI policy actions; so, one of the analysts suggests that it is likely that the repo rate will fall to encourage growth in economic activities and that it might also result in lower FD rates later in the coming months.
Different from others, Axis Bank has increased its rates for depositors, making it possible for them to lock in their money for a larger tenor before getting the cuts. The time is strategic for the investor to maximize available returns.
Why Axis Bank FDs?
- Tenure Flexibility: Investment horizons can range from as little as 7 days to as much as 10 years.
- Senior Citizens Bonus: Up to an extra 0.50 to 0.75 points for a dignified living after retirement, paid beyond the regular rates.
- Security: With Axis Bank being one of the most trusted names in banking, FDs rank as a reliable but low-risk investment.