New Delhi: In a good news to Axis Bank customers, the private lender has hike the Fixed Deposit Rates under Rs 2 crore. As per the revised rates, the bank offers up to 7.10% interest rate for general public whereas senior citizens will be receiving 7.60% on tenures of 15 months to 5 years.

It should be known that the new FD rates have been applicable from October 12, the bank has already informed.

The Bank also maintains that the Bank at its discretion, may disallow premature withdrawal of large deposits for amount Rs.5 crores and above, held by entities other than Individuals and Hindu Undivided Family (HUF).

Axis Bank

Axis Bank FD Chart 2

In the past few days, numerous private and public sector banks have adjusted the interest rates for Fixed Deposits. During the latest bi-monthly monetary policy announcement, the Reserve Bank of India (RBI) decided to maintain the repo rate at 6.5 percent.

The three-day MPC meeting, headed by RBI Governor Shaktikanta Das, began on October 4 and ended on October 6. When revealing the MPC’s choice, Das stated that the committee had a unanimous agreement to retain the repo rate at 6.5 percent.