Axis Bank Announces New FD Rates, Check Details Here

| February 5 , 2019 , 16:29 IST

Axis Bank, the largest private sector bank, announced newBankrates through its official website revised fixed deposit interest rates had been implemented from February 1, 2019.

The bank has revised the interest rates on select maturities. Fixed deposits or FDs are secure financial instruments offered by public, private sector banks, small finance banks, non-banking financial companies (NBFCs) and post offices, which fetch guaranteed returns.

Last week, Union Minister Piyush Goyal, in his Budget speech, proposed to increase the limit for tax deduction at source (TDS) on interest income from Rs. 10,000 to Rs. 40,000 per annum.

ALSO READ: SBI, ICICI Bank, HDFC Bank, Yes Bank Reveals Their New Fixed Deposit Interest Rates

Fixed deposit accounts with a lock-in period of five or 10 years are eligible for deduction in income tax under Section 80C of the Income Tax Act.

Here are the revised interest rates on fixed deposits paid by Axis Bank:


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