Axis Bank FD Rates for Senior Citizens

Fixed deposit schemes offer their investors a chance to secure their future financial needs. Axis Bank FD schemes allow you to invest funds for the annual growth of funds. In addition, the Axis Bank FD rates for senior citizens makes it more appealing.
The Axis Bank FD Rates for Senior Citizens is higher than the savings account, making it a better investment option for senior citizens.

Read more
Best Investment Options
  • Save upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Get Guaranteed returns along with life cover
invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*
+91
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans", you agree to our Privacy Policy and Terms of Use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp

Axis Bank FD rates for Senior Citizens

Axis Bank offers appealing interest rates, ranging between 2.50% to 6.25% to senior citizens, which is higher than the regular rates. That being said, the rate of return will also depend on the amount that is being invested. In this regard, it will be best to know the bank's interest rates before proceeding ahead. 

The Axis Bank FD Rates for Senior citizens for fixed deposits less than Rs. 5 crores are as follows: (w.e.f. 14.08.2021)

Tenure

Below Rs 2 Cr

Rs 2 Cr to 4.91 Cr

Rs 4.91 Cr to 4.92 Cr

Rs 4.92 Cr to  5 Cr

7 - 14 days 

2.50

2.50

2.50

2.50

15 - 29 days

2.50

2.50

2.50

2.50

30 - 45 days

3.00

3.00

2.50

3.00

46 - 60 days

3.00

3.00

2.50

3.00

61 days < 3 months

3.00

3.25

2.60

3.25

3 months to < 4 months 

3.50 

3.50 

2.60 

3.50 

4 months to < 5 months 

3.50 

3.50 

2.60 

3.50 

5 months to < 6 months 

3.50 

3.50 

2.60 

3.50 

6 months to < 7 months 

4.40 

3.70 

2.75 

3.70 

7 months to < 8 months 

4.40 

3.70 

2.75 

3.70 

8 months to < 9 months 

4.40 

3.70 

2.75 

3.70 

9 months to < 10 months  

4.40 

3.80 

2.75 

3.80 

10 months  to < 11 months 

4.40 

3.80 

2.75 

3.80 

11 months  to < 11 months  & 25 days 

4.40 

3.80 

2.75 

3.80 

11 months 25 days  to < 1 year 

4.40 

3.80 

2.75 

3.80 

1 year to < 1 year & 5 days 

5.10 

4.15 

3.00 

4.15 

1 year 5 days  to  < 1 year &11days 

5.15 

4.15 

3.00 

4.15 

1 year 11 days < 1 year 25 days

5.75

4.80

3.65

4.80

1 year 25 days to < 18   months

5.75

4.80

3.65

4.80

18 Months < 2 years

5.90

4.90

3.65

4.90

Above 2 years to <  30 months

6.15

5.10

3.65

5.10

30 months and above to < 3 years

6.00

4.95

3.50

4.95

3 years and above to < 5 years

5.90

4.95

3.50

4.95

5 -10 years

6.50

5.20

3.75

5.20

*Interest rates are subject to change. 

Features

Listed below are the features of FD schemes:

  • The bank will charge a penalty of 1% in case of premature withdrawal. 
  • The borrowers are allowed to close their accounts prematurely. 
  • The investors can take a loan against 90% of their deposited amount.
  • The interest rate of the loan can range from 3.5% to 6.75%. Besides that, the tenure will be the same as the tenure of the FD. 
  • The borrowers can opt for a scheme that ranges from 5-10 years, and the bank will offer an average interest rate of 5.75%. However, if the borrower needs a short-term investment, the interest rates can fall a little.
  • The short-term FD's have a tenure that starts from 7 days and less than 365 days.

Benefits

Listed below are the benefits of FD schemes: 

  • Axis Bank FD Rates for Senior Citizens are best actualized in the long run. 
  • The best interest on the investment is offered at the time of maturity. 
  • The interest rate can go as far as 6.25%. 
  • The daily fluctuations of the market don’t affect your investment. 
  • The borrowers can nominate someone to take care of their account if the account holder passes away during the term.
  • Senior citizens will be paid an extra 0.25 to 0.50% on the investment. 
  • An auto-renewal facility is available.
FD interest have fallen consistently over the last 5 years.
Invest in Plans that offer Guaranteed Returns for over 25 Years
Know More

Eligibility

The FD account holder should be 57 or older to avail of the facility. In addition, various other kinds of documentation need to be done for the bank to process and initiate the plan. 

Documents required to open Senior Citizen FD Account

You will need a set of documents that can substantiate your credentials. These include:

  • Passport
  • Photographs 
  • Birth Certificate 
  • Bank A/c statements or details
  • Application form

It is advised to fill the application with documents in handy. Make sure that the information is accurate for the plan to proceed. 

Factors that Affect Axis Bank FD Rates for senior citizens

Though the daily changes in the market won't affect the interest rates, some factors can. For example:

  • Tenure: Longer tenure ensures higher interest.
  • Amount invested: A higher investment ensures a higher return.
  • FD renewal: Auto-renewal facility ensures a bit of a higher return.
  • Credit demand: Dip in credit demands may cause a dip in the interest rates.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

FAQ's

Written By: PolicyBazaar - Updated: 03 September 2021
Search
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Newsletter
Sign up for newsletter
Sign up our newsletter and get email about FD Rates Articles.

Investment plans articles

Recent Articles
Popular Articles
Rules to Consider for NRI Investment in India

13 Oct 2021

The investments by NRIs in India are regulated according to the...
Indian Government Schemes for NRI

13 Oct 2021

A Non-Resident Indian or NRI is a person who has spent less than...
Pensions Plans for NRI in India

06 Oct 2021

Most of us want to have a good standard of living in our golden...
NRI Can Buy Property in India- All that You Should Know

06 Oct 2021

One of the biggest and probably an achievement would be buying a...
Investment Options for OCI in India

06 Oct 2021

It is said that home is where the heart is. Therefore, many...
Best LIC Policies For Investment in 2021
When it comes to purchasing a life insurance plan, 'LIC policies' are the most popular choice for customers. LIC...
What is Investment and What is Its Purpose?
Different people possess different notions and understanding of “investment”. To start with, first of all...
Post Office Monthly Income Scheme (POMIS)
Are you looking for an investment avenue which is safe and secure, earns substantial returns with a short locking...
SBI Life Insurance Plans in India
SBI Life Insurance, a joint venture between State Bank of India (SBI) and BNP Paribas Assurance, provides...
Short Term Investments Options
Short-term investments can be described as temporary investments or marketable securities, which can be easily...
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL