FD rates News
On fixed deposits of 7 days to 29 days and 30 days to 3 months, the bank will offer interest rates of 2.50 percent and 3%. Axis Bank would continue to offer interest rates of 3.50 percent and 4.40 percent, respectively. Axis Bank will now offer a 5.60 percent interest rate on deposits maturing in one year, 25 days to less than 15 months, up from 5.25 percent previously.
Axis Bank has hiked the interest rate on FD investments with several maturity periods. Investors will get returns of 5.30 per cent on FD investments maturing between 15 months to less than 2 years. The private lender has also increased the interest rate on fixed deposit investments maturing between 5 to 10 years to 5.75 per cent.
This scheme's deadline has been extended, which means you can now benefit from increased interest rates until March 2022. SBI has launched a new FD scheme for senior folks called 'Wecare Deposit.' The interest rate on a fixed deposit made by a senior citizen under the special FD plan would be 6.20 percent.
Fixed deposits are referred to as long-term deposits since they are held for an extended period of time, often seven to ten years. The bank pays the interest rate that was in effect at the time the money was deposited, making it completely risk-free. Fixed deposit rates have fallen in the two years since India was rocked by the Covid-19 epidemic.