Axis Bank Senior Citizen FD Rates 2025

What is an Axis Bank Senior Citizen FD?

An Axis Bank Senior Citizen FD is designed for individuals aged 60 years and above. Senior citizens can choose from various interest payout options: monthly, quarterly, half-yearly, or cumulative. Those who need regular income can opt for monthly or quarterly payouts, while others can choose the cumulative option to receive total interest at the end of the term. The minimum deposit amount is ₹5,000, with no maximum limit. To view the latest returns offered on these deposits, you can check the current Axis Bank FD interest rates. Let’s explore Axis Bank senior citizen FDs, their main features, and how to open an FD account.

Key Benefits of Axis Bank Senior Citizen FD

Axis Bank offers several benefits to senior citizens, such as preferential interest rates, flexible investment amounts, and varied tenure options. The following are some important benefits:

• Flexible Investment Amount: Axis Bank fixed deposits, including for senior citizens, start from ₹5,000 with no maximum limit, making it suitable for both small and large investors.
• Auto-Renewal Facility: Axis Bank offers senior citizens the option to automatically renew their fixed deposit when it matures. The FD will continue at the current interest rate, and they can also give clear instructions about how long to renew it or how much to renew, making it easier without visiting the bank.
• Premature Withdrawal: Axis Bank allows senior citizens to withdraw their fixed deposits before maturity if needed. However, a 1% penalty on the interest earned may apply in case of early closure.
• Multiple Payout Options: Axis Bank offers senior citizens the option to choose from monthly (interest paid every month), quarterly (every three months), half-yearly (every six months), or cumulative (interest added to the deposit and paid at maturity) payout schedules. This flexibility helps senior citizens manage their income flow according to their financial needs and comfort.
• Sweep-in and Sweep-out Facility: Axis Bank allows senior citizens to link their Axis Bank savings account with FD accounts through a sweep-in facility to earn higher returns and a sweep-out option to ensure funds are available when needed.

Axis FD Interest Rates for Senior Citizens

Here’s a quick overview of the Axis Bank senior citizen FD rate for different tenures:

Axis Bank Senior Citizen FD Rates (Less Than ₹3 Crores)

*Axis Bank FD interest rates w.e.f. June 2, 2025
*Senior Citizen Rates do not apply to NRIs

Axis Bank Senior Citizen FD Rates (₹3 Crores to less than ₹5 Crores)

*Axis Bank FD interest rates w.e.f. June 2, 2025
Note: Customers can compare FD interest rates from other top banks in India to choose the best option.

How to Open an Axis Bank Senior Citizen FD?

Axis Bank makes it convenient for senior citizens to open a fixed deposit through both digital and in-branch options. Here's a step-by-step guide for each method:

1. Online Method

   Axis Bank offers a seamless online process for senior citizens to open an FD, even without an existing Axis Bank savings account:

   • Visit the Axis Bank Website: Navigate to the Digital Fixed Deposit page.
   • Verify Identity: Provide your PAN and Aadhaar details for verification.
   • Enter Personal Details: Fill in your name, address, email ID, and other required information.
   • Select Deposit Details: Choose the deposit amount (minimum ₹5,000), tenure (ranging from 7 days to 10 years), and interest payout frequency (monthly, quarterly, or at maturity).
   • Complete KYC: Engage in a brief video KYC call with an authorised Axis Bank agent.
   • Fund the FD: Transfer funds from any bank account via UPI, net banking, or debit card.
   • Confirmation & Access: Once completed, you'll receive an FD receipt via email, and you can manage your FD through Axis Bank's mobile app.

2. Offline Method

   If you prefer to open an FD by visiting a branch:

   • Locate a Branch: Find your nearest Axis Bank branch using the Branch Locator.
   • Gather Required Documents:
     • PAN Card
     • Aadhaar Card, Passport, Driving Licence, or Voter ID
     • Recent passport-sized photographs
     • Form 15H for tax exemption, if applicable
   • Visit the Branch: Go to the branch with the above documents.
   • Fill Out Application: Request and complete the FD application form.
   • Deposit Funds: Provide the desired deposit amount via cash, cheque, or transfer from your savings account.
   • Receive FD Certificate: After processing, you'll receive an FD certificate detailing the amount, interest rate, and maturity date.

Taxation on Axis Bank Senior Citizen FD Interest

Interest earned on Axis Bank Senior Citizen Fixed Deposits is taxable and added to your total income under "Income from Other Sources." From April 1, 2025, TDS is deducted only if annual interest exceeds ₹1,00,000. Senior citizens can submit Form 15H to avoid TDS if their income is below the taxable limit. Under Section 80TTB, they can also claim a deduction of up to ₹50,000 on interest from bank and post office deposits. Tax-saving FDs qualify for Section 80C, but their interest remains taxable.

Key Takeaway

Senior Citizen Fixed Deposit at Axis Bank offers 0.50% to 0.75% higher interest than regular FDs, based on the chosen tenure. Senior citizens can opt for online banking to open an FD at Axis Bank, or they can choose to visit the nearby branch. Depositors can choose tenures from 7 days to 10 years, receive interest payouts at preferred intervals, and apply for loans up to 85% of their FD amount. Sweep-in or sweep-out services are also available from the bank.