• Fixed Deposit
  • Axis Bank
  • Axis Bank Fixed Deposit

Formerly UTI Bank

Axis Bank Fixed Deposit

Axis Bank Fixed Deposit

PrivateAAA (Stable) 
DICGC

7.1%

Interest for 3 years

Axis Bank FD Interest Rates 2024

TenureNormal Citizen FD RateSenior Citizen FD Rate
7 days - 1 month3%3.5%
1 month 1 day - 1 month 16 days3.5%4%
1 month 17 days - 2 months4.25%4.75%
2 months 1 day - 3 months4.5%5%
3 months 1 day - 5 months 28 days4.75%5.25%
5 months 29 days - 8 months 30 days5.75%6.25%
9 months - 11 months 29 days6%6.5%
11 months 30 days - 1 year 3 months6.7%7.2%
1 year 3 months 1 day - 4 years 11 months 28 days7.1%7.6%
4 years 11 months 29 days - 9 years 11 months 28 days7%7.75%

Note: All interest rates shown above are as on 5th Feb 2024

About Axis Bank FD

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.

Axis Bank FD

3% - 7.1%

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

Axis Bank FD Returns Based on Investment Amount

Investment AmountFor 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

Compare Axis Bank Fixed Deposit Returns with Top Banks

Use FD calculator to change values and compare your returns from top banks.

vs
Bandhan Bank FD
Axis Bank FD
Axis Bank FD
Maturity Amount 1,06,910 1,07,496
Total Investment Amount₹ 1,00,000₹ 1,00,000
Total Interest Gained6,910 7,496

Compare Axis Bank Fixed Deposit Rates with Top Banks

Bank NameFD Interest Rates
Bandhan Bank FD
7.25% - 7.75%
Capital Small Finance Bank FD
7.15% - 7.65%
Bharat Bank FD
7.25% - 7.75%
Madhyanchal Gramin Bank FD
6% - 6.5%
Jharkhand Rajya Gramin Bank FD
6.5% - 6.75%
Uttarakhand Gramin Bank FD
6.3% - 6.8%
ICICI HFC FD
7.65% - 7.9%
Maharashtra Gramin Bank FD
6.85% - 7.35%
Federal Bank FD
7% - 7.5%
Union Bank of India FD
6.5% - 7%

Calculate Axis Bank FD Returns

1,00,000

Total Investment

6,910

Wealth Gained

1,06,910

Maturity Amount

Explore Debt Funds, instead!

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.

Axis Bank Fixed deposit schemes

Following are the types of Axis Bank fixed deposit schemes:

  • Fixed Deposit
  • Tax Saver Fixed Deposit
  • Auto Fixed Deposit
  • Fixed Deposit Plus
  • Digital Fixed Deposit

1. Axis Bank Regular Deposit

This Axis Bank FD offers attractive interest rates, no penalty on premature withdrawals (up to 25% of the amount), and zero issuance fees.

  • Minimum Deposit Amount: INR 5,000
  • Minimum Deposit Tenure: 7 days
  • Maximum Deposit Tenure: 10 years
  • Eligibility: Indian resident with 18+ years of age with a valid Pan card and Aadhar card.

2. Axis Bank Tax Saver Fixed Deposit

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:

  • Reinvestment Deposit
  • Quarterly Interest Pay-out
  • Monthly Interest Payout

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.

  • Minimum Deposit Amount: INR 100
  • Maximum Deposit Amount: INR 1,50,000
  • Lock-in period: 5 years. Depositors cannot prematurely withdraw their deposit amount.
  • Type of Account: Deposits can open wither a single or joint type of deposits.
  • Eligibility: Resident Indians and Hindu undivided families

3. Axis Bank Digital Fixed Deposit

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.

  • A Full KYC Fixed Deposit can be opened within minutes
  • You can open digital FD online even if you do not hold savings account at Axis bank
  • Extended amount and extended tenure
  • No penalty on pre-mature withdrawal

4. Axis Bank Auto Fixed Deposit

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.

  • Minimum Deposit Tenure: 6 months
  • Maximum Deposit Tenure: 5 years
  • Liquidity: Depositors can access the money in the fixed deposit through a cheque or ATM withdrawals. Also, the amount is automatically reverse swept to the savings account when the balance is below INR 25,000.
  • Eligibility: The depositor has to be an existing Savings Account holder and must have a valid PAN card.

5. Axis Bank Fixed Deposit Plus

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:

  • Short Term Deposits
  • Reinvestment Deposits
  • Monthly and Quarterly Pay-out

Following are the scheme details

  • Minimum Deposit Amount: INR 5,00,00,000
  • Maximum Deposit Amount: No limit
  • Minimum Deposit Tenure: 7 days
  • Maximum Deposit Tenure: 10 years
  • Eligibility:
    • Residents
    • Hindu Undivided Families
    • Sole Proprietorship Firms
    • Partnership Firms
    • Limited Companies
    • Trusts

Key Features of Axis Bank Fixed Deposit Schemes

  • Premature withdrawal: All Axis bank FDs can be withdrawn prematurely except for tax saving FDs. Axis bank charges a 1% penalty on the interest for premature withdrawals. However, there is no penalty for premature withdrawal of NRE deposits.
  • Nomination facility: Axis bank FD investors can nominate beneficiaries for their FDs.
  • Auto-renewal: Investors can opt for auto-renewal of their Axis Bank FDs.
  • Safety: All Axis bank deposits are covered by the Deposit Insurance Scheme of RBI. The scheme covers all Axis bank deposits up to INR 5,00,000.
  • Additional payments: Investors cannot deposit an additional amount in an Axis bank FD once it has commenced. However, they can open a fresh FD with the new amount.

Does Axis offer Recurring Deposits?

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.

How to open an Axis Bank FD deposit account?

One can open an Axis Bank FD account through various modes such as Internet Banking, Mobile App and offline.

Internet Banking

The following steps will help an individual to open an Axis Bank FD account through internet banking:

  • Log in to the Internet Banking account and select the ‘Deposit’ option.
  • Next, click on the ‘Create Fixed Deposit’ option.
  • Provide all the required information and nominee details.
  • On confirmation, the fixed deposit amount will be debited from the Savings Account to the Fixed Deposit account. Depositors will get a web receipt of the fixed deposit instantly.

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.

Through Mobile App

Axis Bank App

The following steps will guide in opening an FD account through Axis Bank Mobile App:

  • Download the Axis Bank App and log in.
  • Select the ‘Deposit’ option to proceed.
  • Next, select the ‘Open FD’ option.
  • Provide all the required information and nominee details.
  • On confirmation, the fixed deposit amount will be debited from the Savings Account to the Fixed Deposit account. Depositors will get a web receipt of the fixed deposit instantly.

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.

Offline Axis Bank FD Opening

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.

Documents Required to Open Axis Bank FD

The documents required by all eligible investors are the following:

  • Photographs,
  • Introduction by other banks or Axis Bank Savings account holders of the last six months
  • ID proofs (passport, driving licence, Aadhar card). Also, one would need a copy of the trust deed, partnership deed, laws of the association, and any other document as required by the trust, partnership firm, and company.

Eligibility to Open Axis Bank FD

Only eligible investors can invest in Axis Bank FD. The eligibility criteria to invest in Axis Bank FD is:

  • Indian residents,
  • Sole proprietorship firms
  • Partnership firms
  • Hindu Undivided Families (HUF)
  • Trust accounts
  • Limited companies

Explore Fixed Deposits By Banks

Frequently Asked Questions

What is the highest Axis Bank FD rate today?

The highest Axis Bank FD rates for general citizens is 7.1% p.a. and 7.75% p.a. for senior citizens.

What is the highest interest rate on Axis Bank 1 year FD scheme?

The highest interest rate on Axis Bank 1 year FD scheme is 6.7% p.a.

What is Axis Bank FD scheme interest rate for 5 years?

7% p.a is the interest rate for 5 years on Axis Bank FD scheme.

How many years FD will double in Axis Bank?

To know in how many years Axis Bank Bank FD will double, we can follow the 72 rule. We have to divide 72 by the interest rate, and the result will be the number of years Axis Bank Bank FD will double. The current highest Axis Bank FD interest rate is 7.1% so investors will double the investment in 10.14 years. Similarly, senior citizen depositors will double their FD investment in 9.29 years, where the highest FD rate for senior citizens is 7.75%.

What is Axis Bank FD minimum deposit amount?

The minimum investment in Axis Bank FD is INR 5,000. However, there is no limit on the maximum amount of investment in Axis Bank FD.

What is senior citizen fixed deposit interest rates in Axis Bank?

The senior citizen fixed deposit interest rates in Axis Bank range between 3.5% to 7.75% p.a. for an available minimum and maximum investment duration.

What are the available FD tenures in Axis Bank?

Axis Bank FD tenure ranges from 7 days to 9 years 11 months 28 days

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?

You can check Axis Bank FD balance either online or offline mode. For online mode, log in to the Axis Bank internet banking portal. Alternatively, you can visit the nearest Axis Bank bank to update your passbook for FD balance enquiry.

How many FDs can be opened in Axis Bank?

There is no restriction on the number of FDs you can open with Axis Bank.