These two banks have increased FD rates, customers are getting more than 7% interest

Axis Bank has increased FD rates twice within a month. Interest rates have been increased on FDs of less than 2 crores. Recently, Axis Bank had increased 115 basis points on FDs maturing in 46 days to 10 years, which is effective from 5 November.

ICICI Bank, Axis Bank hike FD rates

Two major private banks of the country Fixed Deposit Rate (FD Rates) has been increased. in these two banks ICICI Bank (ICICI Bank) and Axis Bank are included. Axis Bank Has increased the FD rate twice in a month. On the other hand, ICICI Bank has increased the interest rate on FDs of less than 2 crores. The new rates of this bank have come into effect from 16 November. The interest rate has increased by up to 30 basis points on FDs of different tenures. Now maturing in 7 days to 10 years FD But interest is being received from 3 percent to 6.50 percent. This rate is for the general public while senior citizens are being given interest ranging from 3.75 to 6.50 percent.

On the other hand, Axis Bank has increased FD rates twice within a month. Interest rates have been increased on FDs of less than 2 crores. Recently, Axis Bank had increased 115 basis points on FDs maturing in 46 days to 10 years, which is effective from 5 November. For the second time this month, Axis Bank has increased the FD rate by 20 basis points.

Based on the recent hike announced on Tuesday, Axis Bank has increased the interest rate on FDs maturing in next 15 to 18 months by 15 basis points to 6.40% and on FDs maturing in next 18 months to 3 years by 20 basis points Tax has brought it to 6.50%.

Growth of ICICI Bank

The current interest rate on FDs maturing in 15 to 18 months has been increased by 30 basis points to 6.40 percent from 6.10 percent. Similarly, the interest rate for FDs maturing in 18 months to 2 years has increased by 25 basis points from 6.15 percent to 6.40 percent. 6.50% interest will be given on FDs maturing in 2 years, 1 day to 3 years. Earlier the interest rate was 6.20 percent, in which an increase of 30 basis points has been made. FDs maturing in 3 years, 1 day to 5 years will now get 6.60% interest, whereas earlier this rate was 6.35%.

ICICI Bank has increased the interest rate on FDs maturing in 5 years 1 day to 10 years by 25 basis points from 6.25% to 6.50% and on FDs maturing in 5 years (80C FD) by 25 bps. The rate has been reduced from 6.35% to 6.60%.

New rate of Axis Bank

Axis Bank will continue to pay 5.50% interest on FDs of 9 months to 1 year. Similarly, 6.25% interest will continue to be given on FDs maturing in 1 year to 15 months. The rate of FD maturing in 15 months to 18 months has been increased by 15 basis points. Earlier this rate used to be 6.25 percent, which has been increased to 6.40 percent. FDs maturing in 18 months to 3 years have been increased by 20 basis points and this rate has gone up to 6.50%. 6.50% interest will continue to be available on FDs maturing in 3 years to 10 years.

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English News Headline: icici bank and axis bank hikes fd rates fixed deposits under 2 crore

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