Axis Bank has changed the interest rates of Axis Bank Fixed Deposit

 

Axis Bank has changed the interest on Axis Bank Fixed Deposit Scheme (FD). Now 7 days and 29 days FD will get 2.50% interest. Apart from this, now investor will get 5.75% interest on FD of 5 to 140 years. The new interest rates have come into effect from March 18, 2021. Earlier in January 2021, SBI also changed the interest on FD.

 

Now how much interest rate will be received on FD

 

 

Time Period	New Interest Rate (in%)	Old Interest Rate (in%)
7 Days to 29 Days	2.50	2.50
7 Days to 29 Days	3.00	3.00
3 to 6 Months	3.50	3.50
6 to 11 Months 25 Days	4.40	4.40
11 Months 25 days to 1 Year 5 Days	5.15	5.15
1 Year 5 Days to 18 Months	5.10	5.10
18 Months to 2 Years	5.25	5.10
2 Years to 5 Years	5.40	5.40
5 Years to 10 Year	5.75	5.50

 

 

How much interest is SBI paying on FD?

 

Time Period	Interest Rate (in%)
7 Days to 45 Days	2.90
46 Days to 179 Days	3.90
180 Days to 210 Days	4.40
211 Days 1 Year	4.40
Over 1 Year & Less Than 2 Years	4.90
Over 2 Years & Under 3 Years	5.10
Over 3 Years & Under 5 Years	5.30
Over 5 Years & Below 10 Years	5.40

 

 

Rate of interest reduced from 9% to less than 6% in the last 10 years

 

In the year 2011, the country's largest bank SBI was paying a maximum interest of up to 9.25% on fixed deposits. Which is now down to 5.40%. Apart from this, most of the big banks in the country are offering interest ranging from 5% to 6% on FD.

 

What should investors do to get more interest from FD?

 

In response to this question, the personal finance expert says that If investors want to invest their money somewhere where the investor gets more money than FD and the money of the investor is also safe, then the investors can invest in post office schemes or public sector bonds.

 

These of the post office schemes are getting more interest rate than FD

 

Post Office Scheme	Interest Rate (%)
Sukanya Samriddhi Yojana	7.60
Senior Citizen Saving 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