Axis Bank revises FD rates effective today, now get up to 7.10% on 13 months to 2 years tenure

Axis Bank FD Rates

The bank is guaranteeing an interest rate of 3.50% on fixed deposits maturing in the next 7 days to 45 days, and Axis Bank is promising an interest rate of 4.00% on those maturing in the next 46 days to 60 days. On deposits with tenure of 61 days to three months, Axis Bank promises an interest rate of 4.50%, and on deposits with tenure of three months to six months, it promises an interest rate of 4.75%.

Deposits maturing in 6 to 9 months will fetch an interest rate of 5.75%, and those maturing in 9 to 12 months will fetch an interest rate of 6%. The bank is now offering an interest rate of 6.75% on fixed deposits maturing in 1 year to 1 year 4 days, while Axis Bank is also offering an interest rate of 6.80% on deposits maturing in 1 year 5 days to 13 months Is.

For deposits of 13 months to two years, Axis Bank is now offering an interest rate of 7.10%, while for deposits of two years to thirty months, the bank is now offering an interest rate of 7.05%. The interest rate on deposits with maturity between 30 months to 10 years is now 7%.

compared to net profit of The bank had a net loss of Rs 4,117.77 crore in the same quarter a year ago. 5,728.42 crore during Q4FY23. In Q3FY23, Axis Bank reports 62% growth in its net profit 5,853.1 crores. For the quarter ending March 2023, the private bank’s total income was 28,865.08 crore as compared to Rs. 21,999.58 crore in Q4FY22. Net interest income (NII) climbed 33% year-on-year for the March quarter 11,742 crores. Net interest margin (NIM) for the quarter increased by 2% and 73 basis points to 4.22% sequentially.