Axis Bank announced fresh fixed deposit rates on Thursday, April 9, 2026, following the RBI's monetary policy announcement. According to reports from Upstox, the new rates were announced after RBI Governor Sanjay Malhotra held the key policy rate steady at 5.25% in his first bi-monthly monetary policy meeting for fiscal year 2026-27. The private sector lender revised rates for both fixed deposits less than ₹5 crore and deposits of ₹5 crore and above.
As reported by Upstox, senior citizens can now earn up to 7.2% interest rate on 5-year FDs for amounts less than ₹5 crore. For shorter tenures, senior citizens receive 6.75% for 1-year deposits and 6.25% for 6-month deposits. The bank offers 6.99% as the highest rate for term deposits of ₹5 crore and above. According to the report, Axis Bank now offers the highest rate of interest to senior citizens for a 5-year FD among all major commercial banks for deposits less than ₹5 crore.
For general depositors, the bank offers 6.60% for 5-year FDs and 6.99% for deposits of ₹5 crore and above. As reported by Upstox, the rates vary by tenure with 6.25% for 1-year deposits and 6.65% for 6-month deposits. The rates are structured across different maturity periods from 7-14 days to 5 years to 10 years.
According to the Upstox report, the RBI Governor's monetary policy statement hinted at a prolonged pause on rate cuts given that inflation is on the rise. This suggests that chances of FD rates reducing in the near term look slim. Conservative investors with low-risk appetite can consider parking surplus cash in FDs to reap fixed returns in the current market scenario.
