New interest rates: Axis Bank changes interest rates on fixed deposits, here maximum 5.75% interest will be paid on FDs
Axis Bank has changed the interest rate on Fixed Deposit (FD). Now you will get 2.50% interest on 7 day and 29 day FD. Other than that you will now get 5.75% interest on 5 to 10 year FDs. The new interest rate will be applicable from May 6. Earlier, IndusInd Bank had recently changed the interest rate on FDs.
How much interest will you get now
| Duration | New interest rate (in%) |
| 7 days to 29 days | 2.50 |
| 30 days to 90 days | 3.00 |
| 3 to 6 months | 3.50 |
| 6 to 11 months 25 days | 4.40 |
| 11 months 25 days to 1 year 5 days | 5.10 |
| 1 year 5 days to 1 year 11 days | 5.15 |
| 1 year 11 days to 15 months | 5.10 |
| 15 months to 18 months | 5.20 |
| 18 months to 2 years | 5.25 |
| 2 years to 5 years | 5.40 |
| 5 years to 10 years | 5.75 |
IndusInd Bank has reduced interest rates on FD
IndusInd Bank now offer 2.75% interest on deposits mecyoritivali from 7 to 30 days. IndusInd Bank will offer 3% interest on deposits with maturity of 31 to 45 days, 3.50% on maturity of 46 to 60 days and 3.75% on maturity of 61 to 90 days.
How much interest will be earned
| Duration | Interest (in%) |
| 7 to 30 days | 2.50 |
| 31 to 45 days | 3.00 |
| 46 to 60 days | 3.50 |
| 61 to 90 days | 3.75 |
| 91 to 120 days | 4.00 |
| 121 to 180 days | 4.50 |
| 181 to 210 days | 5.00 |
| 211 to 269 days | 5.25 |
| 270 to 354 days | 5.50 |
| 355 to 364 days | 6.00 |
| From 1 year to 61 months | 6.50 |
| More than 61 months | 6.25 |
The
country's largest bank, SBI, has been offering interest rates on fixed deposits up to a maximum of 9.25% in 2011 at rates lower than 6 per cent in the last 10 years . Which has now come down to 5.40. Apart from that most of the major banks in the country are offering maximum interest on FDs ranging from 5 to 6%.
What to do to get more interest than FD?
In response to this question, Pankaj Mathpal, a personal finance expert and founder and CEO of Optima Money Managers, says, Can invest.
This post office scheme is earning more interest than FD
| Scheme | Interest rate (%) |
| Sukanya Samrudhi Yojana | 7.60 |
| Senior Citizen Savings Scheme | 7.40 |
| PPF | 7.10 |
| Kisan Vikas Patra | 6.90 |
| National Certificate Scheme | 6.80 |
| Time deposit | 6.70 |
| Monthly Income Scheme | 6.60 |
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