Axis Bank, Canara Bank revise fixed deposit interest rates. Check latest FD rates here
₹2 crore. This comes after the Reserve Bank of India (RBI) decided to keep the repo rate unchanged at 6.5 per cent for the third time in a row. The decision to keep policy interest rate unchanged was announced by RBI Governor Shaktikanta Das on 10 August.
The repo rate is the interest rate at which the RBI lends money to commercial banks. According to the bank's website, the new rates are effective from August 14, 2023. Following the revision, the bank will offer interest rates ranging from 3.5% to 7.3% on deposits maturing in seven days to ten years for the general public.
Senior citizens will get an interest rate in the range of 3.50% to 8.05% on these deposits. These rates are for callable term deposits where premature withdrawal is permitted. 7 days to 14 days 3.50 15 days to 29 days 3.50 30 days to 45 days 3.50 46 days to 60 days 4.00 .
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