Fixed Deposits (FDs) are a popular investment choice for many investors who prefer stability and predictable returns. They are offered by banks and post offices for various tenures, each with its own interest rates.
Choosing the Right FD Option
When considering where to invest your money in FDs, it’s essential to compare interest rates offered by different banks, as they vary. This comparison ensures you maximize your returns.
Axis Bank, for instance, provides competitive interest rates across different FD durations, ranging from 7 days to 10 years.
Interest Rates at Axis Bank
Here’s a breakdown of the current interest rates at Axis Bank for FDs of different tenures:
7 to 29 days: 3%
30 to 45 days: 3.5%
46 to 60 days: 4.25%
61 days to less than 3 months: 4.5%
3 months 1 day to less than 6 months: 4.75%
6 months to less than 9 months: 5.75%
9 months to one year: 6%
1 year to less than 15 months: 6.70%
15 months 1 day to less than 17 months: 7.10%
More than 17 months to less than 18 months: 7.20%
18 months to less than 5 years: 7.10%
5 to 10 years: 7.00%
Special Benefit for Shorter Tenures
If you’re looking to invest for a shorter period and still want to earn competitive returns, Axis Bank offers an attractive option.
For FDs with a tenure of 18 months (one and a half years), the interest rate goes up to 7.20%. Senior citizens enjoy even higher rates, up to 7.85%, making it a lucrative choice for them as well.
By choosing the right tenure and comparing rates, you can make the most of your Fixed Deposit investment at Axis Bank.
These rates vary based on the duration of the FD, allowing investors to choose a tenure that aligns with their financial goals and time horizon.
By understanding these details, investors can make informed decisions regarding their FD investments, ensuring they maximize returns while maintaining liquidity and security.
