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Axis Bank, Kotak Mahindra Revise FD Interest Rates This Week

Staff

Banks have been making frequent revisions in their interest rates offered on fixed deposits (FD).

This week, private lenders, Axis Bank (with effect from 5 November) and Kotak Mahindra Bank (with effect from 7 November) revised interest rates on their term deposits.

Both the banks provide deposit facilities on tenures ranging from 7 days to 10 years.

Kotak Mahindra Bank

Interest rates on FDs less than Rs 2 crore with effect from 7 November 2019:

Tenure Regular interest rate Senior citizen interest rate
7 - 14 Days 3.50% 4.00%
15 - 30 Days 4.00% 4.50%
31 - 45 Days 4.75% 5.25%
46 - 90 Days 5.25% 5.75%
91 - 179 Days 5.40% 5.90%
180 Days 5.80% 6.30%
181 Days to 269 Days 5.90% 6.40%
270 Days 6.00% 6.50%
271 Days to 363 Days 6.25% 6.75%
364 Days to 389 Days 6.40% 6.90%
390 Days (12 months 25 days) 6.50% 7.00%
391 Days - Less than 2 years 6.45% 6.95%
2 years- less than 3 years 6.40% 6.90%
3 years and above upto and inclusive of 10 years 6.25% 6.75%

Axis Bank

Interest rates on FDs less than Rs 5 crore with effect from 5 November 2019

Tenure Regular interest rates (%) Senior citizen interest rates (%)
7 days to 14 days 3.50 3.50
15 days to 29 days 4.25 4.25
30 days to 45 days 5.00 5.00
46 days to less than 6 months 5.50 5.50
6 months to less than 9 months 6.00 6.25
9 months to less than 11 months 25 days 6.25 6.50
11 months 25 days to less than 1 year 6.55 6.80
1 year to less than 1 year 25 days 6.45 7.10
1 year 25 days to less than 13 months 6.55 7.20
13 months to less than 18 months 6.45 7.10
18 months to less than 2 years 6.80 7.45
2 years to less than 30 months 6.85 7.50
30 months to less than 3 years 6.85 7.35
3 years to 10 years 6.75 7.25

Also Read:

Axis Bank Express FD: Should You Opt For This Short-Term FD Facility?

Kotak Mahindra Bank Q4 Profits Spikes 25%; Board Recommends Dividend

ICICI Bank Revises Fixed Deposit (FD) Interest Rates