Axis Bank FD Scheme Marathi News: Axis Bank has reduced interest rates on term deposits (FD). Now, after FDs in Axis Bank, ordinary citizens will get interest from 5% to 5.5%. Senior citizens will get interest from 5.5% to 5.5%. These interest rates will be applicable from today, April 1. After the RBI cuts the repo rate, the banks are now reducing FD interest rates. These changes have been made at the interest rate of FD of less than Rs 2 crore.

HDFC also cuts FD interest rates

Earlier, HDFC Bank has reduced interest rates on fixed deposits (FDs). After making FDs at HDFC Bank, ordinary citizens will get interest from 8% to 8.5%. Senior citizens will get interest from 5.5% to 5.5%. These changes have been made at the interest rate of FD of less than Rs 2 crore.

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SBI and BOI also made changes to interest rates

Recently, State Bank of India (SBI) and Bank of India (BOI) have reduced interest rates on fixed deposits (FD). Now, SBI is paying 8.5% interest on 3 years FD. Now, ordinary citizens will get a interest rate on the FD of 5 years in the Bank of India (BOI). After the RBI cuts the repo rate, the banks are now reducing FD interest rates.

Remember these 3 things while doing FD

Important

Before investing in FD, it is important to think about its duration. Because if investors take money before the deadline, they will have to pay the penalty. If you break the FD before maturity, you will have to pay a fine of up to 5%. This can reduce the total interest on the deposit.

Do not invest all money in a single FD

If you are planning to invest Rs 5 lakh in a single FD in the same bank, instead invest more than one bank in more than one bank and 2 FD of Rs. So, if you need money in it, you can break the FD and arrange for money. The rest of your FDs will remain safe.

Tax discount is available on 3 years FD

The FD of 3 years is called Tax Savings FD. By investing in this, you can get a deduction of Rs 1.5 lakh from your total income under Section 80C of the Income Tax Act. Simply put, you can reduce your total taxable income by Rs.

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