Fixed Deposit (FD) is a safe investment. This is the reason why a large number of people keep investing in this scheme. At the same time, banks also keep changing the FD rates from time to time to attract customers. Before Holi, many banks had changed the FD rates. Now a big update has come from Axis Bank. The bank has changed the rate of FD. The new rates will be effective from March 21.
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These customers will benefit
According to the information shared by Axis Bank, customers will now get 5.30% interest on fixed deposits of 1 year 11 days or more and less than 1 year 25 days. The bank has increased by 5 basis points. Earlier, 5.25% interest was available on FD for such a long time. Apart from this, there has been no change in the rates of all others. The highest interest is given by the bank on FDs of 5 years to 10 years. The bank is giving 5.75% interest to the customers who have got FD for this period.
Senior citizens are getting up to 6.50% interest on FD
In order to attract senior citizens customers, Axis Bank is giving them more interest than normal customers. The bank is giving interest from 2.5% to 6.5% on FDs from 7 days to 10 years. Let us tell you, on March 17, the bank had also changed the rates of FD. Then but only the customers who had invested Rs 2 crore or more were benefitted.