Formerly UTI Bank
7.1%
Interest for 3 years
Tenure | Normal Citizen FD Rate | Senior Citizen FD Rate |
---|---|---|
7 days - 29 days | 3% | 3.5% |
30 days - 1 month 14 days | 3.5% | 4% |
1 month 15 days - 1 month 29 days | 4.25% | 4.75% |
2 months - 2 months 29 days | 4.5% | 5% |
2 months 30 days - 5 months 28 days | 4.75% | 5.25% |
5 months 29 days - 9 months | 5.75% | 6.25% |
9 months 1 day - 11 months 29 days | 6% | 6.5% |
1 year - 1 year 2 months 29 days | 6.7% | 7.2% |
1 year 2 months 30 days - 1 year 5 months | 7.1% | 7.6% |
1 year 5 months 1 day - 1 year 6 months | 7.2% | 7.7% |
1 year 6 months 1 day - 4 years 11 months 28 days | 7.1% | 7.6% |
4 years 11 months 29 days - 9 years 11 months 28 days | 7% | 7.75% |
Note: All interest rates shown above are as on 3rd Jul 2024
Axis Bank is the third largest private sector bank in India. Axis Bank offers a wide range of financial services to various customer segments like large and mid-cap corporations, MSMEs, and retail and agricultural businesses. The bank was incorporated in 1994 as a UTI bank and was renamed in July 2007. It is headquartered in Mumbai. As of March 31st 2022, Axis bank has 4,758 outlets across India and more than 16,990 ATMs/ Cash Withdrawal Machines. Axis Bank Deposits stood at INR 8,21,721 crores as of March 2022. Axis Bank’s Fixed Deposits have a AAA Credit Rating.
3% - 7.2%
FD Rate
3.5% - 7.75%
FD Rate for Seniors
₹ 5000
Minimum Deposit
₹ 2 Crores
Maximum Deposit
-
Lock-in
-
FD Tenure
-
Loan against FD
AAA (Stable)
CRISIL Rating
Investment Amount | For 3 years with interest of 7.1% | For 5 years with interest of 7% |
---|---|---|
₹ 50,000 | ₹ 61,830 | ₹ 70,881 |
₹ 1 lakh | ₹ 1,23,661 | ₹ 1,41,763 |
₹ 2 lakh | ₹ 2,47,322 | ₹ 2,83,525 |
₹ 5 lakh | ₹ 6,18,304 | ₹ 7,08,813 |
₹ 10 lakh | ₹ 12,36,608 | ₹ 14,17,625 |
Use FD calculator to change values and compare your returns from top banks.
Maturity Amount | ₹ 1,06,910 | ₹ 1,06,697 |
Total Investment Amount | ₹ 1,00,000 | ₹ 1,00,000 |
Total Interest Gained | ₹6,910 | ₹ 6,697 |
Bank Name | FD Interest Rates |
---|---|
Jammu & Kashmir Bank FD | 6.5% - 7% |
Punjab National Bank FD | 7% - 7.5% |
ICICI HFC FD | 7.75% - 8% |
HDFC Ltd FD | 7.35% - 7.6% |
Vidharbha Konkan Gramin Bank FD | 7% - 7% |
Karnataka Gramin Bank FD | 6.85% - 7.35% |
ESF Bank FD | 8% - 8.5% |
Aryavart Bank FD | 6.5% - 7% |
Capital Small Finance Bank FD | 7.15% - 7.65% |
Utkarsh Small Finance Bank FD | 8.5% - 9.1% |
₹1,00,000
Total Investment
6,910
Wealth Gained
₹1,06,910
Maturity Amount
The flexible & tax efficient alternative to FDs.
Axis Bank offers multiple fixed deposits for various tenures with different interest rates to its investors. The interest rate on Axis Bank FDs is higher than their savings account. One can invest in Axis Bank FDs in a hassle-free manner, enjoy their flexible tenures, and seamless transfers with just a minimum investment of INR 5,000. This article covers Axis bank FD, its features and interest rates in detail.
Axis Bank Fixed Deposit (FD) is one of the most convenient and safe ways to grow savings. One can open an account online. Also, the account offers an easy transfer facility from a savings account to a fixed deposit. Axis FD interest rates are competitive to both long and short term fixed deposit investments. Furthermore, the scheme offers an auto roll out facility, where the fixed deposit interest is credited to the designated account. Or paid out to a different account.
Depositors can earn more interest with interest reinvestment. In other words, the interest accrued on the fixed deposit each quarter is invested along with the principal. The interest computation is done on a quarterly basis.
Following are the types of Axis Bank fixed deposit schemes:
This Axis Bank FD offers attractive interest rates, no penalty on premature withdrawals (up to 25% of the amount), and zero issuance fees.
The Tax Saver FD scheme offers attractive interest rates on lump sum investments and also the benefit of tax saving. Under Section 80C of the Income Tax Act, deposits up to INR 1,50,000 qualify for a tax deduction. The axis bank tax saving fd comes in three options:
Therefore, investors can choose the most suitable option depending on the interest payout. Also, depositors can claim tax benefit through FD receipt that the bank issues.
Digital Fixed Deposit is a first-of-its-kind digital Full KYC Fixed Deposit product in the industry. By submitting your basic information, you can open a Digital Fixed Deposit without having an Axis Bank Savings Account. It has a number of benefits, including competitive FD interest rates, no issuance fees, and no penalty for early withdrawal (up to 25% of the amount). It’s a quick and easy approach to save money.
The Axis Bank Auto Fixed Deposit links the existing savings account to the fixed deposit. The account facilitates automatic transfer of money when the savings account balance crosses INR 25,000. Also, the automatic transfer happens in multiples of INR 5,000. Furthermore, the scheme offers easy liquidation and auto-renewal of deposits.
Axis Bank’s Fixed Deposit Plus scheme offers a higher interest rate in comparison to regular FDs. The interest is available on a simple and compounding basis. Furthermore, the scheme is available to both domestic and NRI customers. Also, the scheme doesn’t offer an auto-renewal facility. Depositors can pick any of the types of following deposits:
Following are the scheme details
Axis Bank offers recurring deposits to its depositors. Axis bank RDs have a minimum tenure of 180 days and maximum tenure of 10 years. The minimum investment in Axis bank RD is INR 500, and there is no limit on the maximum investment. One can invest in Axis bank RD through either internet banking or mobile banking or by physically visiting an Axis bank branch.
One can open an Axis Bank FD account through various modes such as Internet Banking, Mobile App and offline.
The following steps will help an individual to open an Axis Bank FD account through internet banking:
Upon successful creation, the Fixed Deposit advice will either be emailed to the registered email address, or a physical advice will be sent to the communication address. Alternatively, depositors can also download the FD advice through internet banking after one working day of booking the deposit.
The following steps will guide in opening an FD account through Axis Bank Mobile App:
Upon successful creation, the Fixed Deposit advice will either be emailed to the registered email address, or a physical advice will be sent to the communication address. Alternatively, depositors can also download the FD advice through internet banking after one working day of booking the deposit.
To open an Axis Bank FD account offline, one has to visit the nearest Axis Bank branch. Fil the Axis Bank FD application form and submit all the necessary documents. Make the deposit of the required funds to open the fixed deposit. Upon successfully processing the application, Axis bank will provide an FD receipt.
The documents required by all eligible investors are the following:
Only eligible investors can invest in Axis Bank FD. The eligibility criteria to invest in Axis Bank FD is:
What is the highest Axis Bank FD rate today?
What is the highest interest rate on Axis Bank 1 year FD scheme?
What is Axis Bank FD scheme interest rate for 5 years?
How many years FD will double in Axis Bank?
What is Axis Bank FD minimum deposit amount?
What is senior citizen fixed deposit interest rates in Axis Bank?
What are the available FD tenures in Axis Bank?
What is Axis Bank FD ROI for 10 lakh deposit for 1 year?
The interest from the Axis Bank FD calculator for 10 lakh deposit for 1 year will be INR 69,096. The maturity value will be INR 10,69,096. You can use Scripbox’s FD Calculator to determine the maturity value of your investment.
How to check the fixed deposit balance in Axis Bank?
How many FDs can be opened in Axis Bank?