|Tenure||Normal Citizen RD Rate||Senior Citizen RD Rate|
|3 Months to 6 Months||4.75%||4.75%|
|6 Months to 9 Months||5.75%||6.00%|
|9 Months to 1 Year||6.00%||6.25%|
|1 Year to 2 Years||7.10%||7.85%|
|2 Years to 3 Years||7.00%||7.75%|
|3 Years to 5 Years||7.00%||7.75%|
|5 Years to 10 Years||7.00%||7.75%|
Note: All interest rates shown above are as on 1st November 2023
6 Months - 10 Years
Public Interest Rates
4.75% to 7.10%
Senior Citizen Interest Rates
4.75% to 7.85%
Minimum Deposit Amount
Highest Rates for Public
Highest Rates for Senior Citizen
|Investment Amount||For 3 years with interest of 7.00%||For 5 years with interest of 7.00%|
|₹ 50,000||₹ 1,51,747||₹ 2,54,384|
|₹ 1 lakh||₹ 3,03,493||₹ 5,08,767|
|₹ 2 lakh||₹ 6,06,987||₹ 10,17,534|
|₹ 5 lakh||₹ 15,17,466||₹ 25,43,835|
|₹ 10 lakh||₹ 30,34,933||₹ 50,87,670|
|Maturity Amount||₹ 3,03,493||₹ 3,02,621|
|Total Investment Amount||₹ 3,00,000||₹ 3,00,000|
|Total Interest Gained||₹3,493||₹ 2,621|
|Bank Name||RD Interest Rates|
|Punjab National Bank||4.40% to 6.50%|
|City Union Bank||5.75% to 6.50%|
|BOI Bank||4.50% to 6.50%|
|Canara Bank||5.25% to 6.90%|
|Indian Bank||3.50% to 6.70%|
|BOB Bank||4.50% to 7.05%|
|Central Bank of India||4.50% to 6.75%|
|Karur Vysya Bank||6.00% to 7.00%|
|Union Bank of India||4.30% to 6.70%|
|Tamilnad Mercantile Bank||5.75% to 7.00%|
|Karnataka Bank||5.25% to 7.00%|
|Dhanlaxmi Bank||6.50% to 6.75%|
|South Indian Bank||4.50% to 6.50%|
|Federal Bank||5.00% to 7.30%|
|Bank of Maharashtra||4.50% to 6.00%|
|Indian Overseas Bank||4.50% to 6.80%|
|UCO Bank||4.50% to 6.50%|
|RBL Bank||4.75% to 7.50%|
|State Bank of India||4.50% to 7.00%|
|IDBI Bank||4.50% to 6.80%|
|HDFC Bank||4.50% to 7.10%|
|ICICI Bank||4.75% to 7.00%|
|Indusind Bank||4.75% to 7.50%|
|Kotak Mahindra Bank||4.00% to 7.10%|
|Yes Bank||5.00% to 7.75%|
|Bandhan Bank||4.50% to 7.25%|
|IDFC First Bank||5.00% to 7.50%|
|Equitas Small Finance Bank||7.25% to 8.20%|
|Capital Small Finance Bank||4.75% to 7.15%|
|Ujjivan Small Finance Bank||4.75% to 7.50%|
|Fincare Small Finance Bank||5.75% to 8.25%|
|ESAF Small Finance Bank||5.25% to 8.50%|
|North East Small Finance Bank||4.00% to 7.50%|
|Suryoday Small Finance Bank||5.00% to 8.50%|
|Utkarsh Small Finance Bank||6.50% to 8.00%|
|Jana Small Finance Bank||4.00% to 8.50%|
|DBS Bank||3.00% to 7.50%|
|Post Office||6.90% to 7.50%|
Frequently Asked Questions
What is the current interest rate of RD in Axis Bank?
How to open rd account in Axis Bank?
How to close rd in Axis Bank?
How to calculate maturity and interest in Axis Bank recurring deposit ?
What is Axis Bank RD interest rates for 1 year in 2023 ?
Axis Bank RDs are investments that allow investors to save small amounts regularly. The bank has a tenure of 6 months to 10 years, and the interest rates vary with the tenure.
Axis Bank RD rates for regular citizen range between 5.75% to 7.26% p.a.. For senior citizens, Axis RD rates range between 6% to 8.01% p.a. . Estimate the returns from Axis Bank RD investment using the Axis Bank recurring deposit calculator. The RD rates of Axis Bank are higher than their saving account rates. Furthermore, the Axis Bank RD rate of interest differs based on the investor’s age, investment tenure, RBI policies and economic conditions in the country.
The interest that the recurring deposit earns is taxable as per the investor’s income tax slab rates. Also, one has to show this interest income under the head ‘Income from Other Sources’ during their tax filing. Moreover, if the interest income exceeds INR 40,000 (INR 50,000 for senior citizens) the bank deducts a TDS of 10%. Furthermore, if the investor furnishes the PAN card details, the TDS of 10% is applicable; if not, 20% TDS rate is deducted by the bank.
Eligibility: Following are the eligibility criteria for opening an Axis Bank RD account
Deposit and account: One can open an Axis Bank recurring deposit account with a minimum investment of INR 500 and in multiples thereafter. However, there is no limit on the maximum investment amount for Axis Bank RD.
Withdrawal: Axis Bank allows investors to prematurely withdraw their RD investment, however, with a penalty at an interest of 1% less than the applicable interest rate.
Nomination: Axis Bank RDs have a nomination facility where the account holder can nominate beneficiaries.
Axis Bank offers the following recurring deposit schemes:
Axis Bank RDs are a good investment instrument for investors who can save small amounts of money regularly. Also, RDs are considered low-risk investment options as they offer investors guaranteed returns. However, one must consider the taxes they have to pay on the interest income of recurring deposits. Therefore, investors looking for guaranteed returns and understanding the tax liability on interest income can consider investing in RDs.
The minimum deposit amount Axis Bank RD is INR 500 per month. And, there is no maximum amount of investment in Axis Bank RD.
Yes, one can open an Axis Bank RD account on behalf of a minor.
One can open an Axis Bank RD account through offline and online modes. For online mode, one has to visit the Axis Bank website. And for offline mode, one has to visit the nearest branch of the Axis Bank.
To be able to invest in Axis Bank RD, one needs to have all valid documents. They need to have an Axis Bank RD application form, duly filled and signed and passport size photographs. For proof of identity, they need a PAN card, Aadhar card, voter ID, and driving licence and for proof of residence, they need an Aadhar card, utility bills, and driving licence. For age proof, they need a birth certificate, matriculation certificate, and PAN card.
Yes, it is possible to renew an Axis Bank RD account. However, the renewal is possible as per Axis Bank norms and rules.
The current highest axis bank rd rates range between 5.75% to 7.26% p.a. for normal citizen and 6% to 8.01% p.a. for senior citizens in India.