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 make 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.

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Compare FD Interest Rates of Top Financial Institutions
BANKS GENERAL CITIZENS SENIOR CITIZEN
Axis Bank FD Rates 2.50% - 5.75% 2.50% - 6.50%
Bandhan Bank FD Rates 3.00% - 5.00% 3.75% - 5.75%
Bank of Baroda FD Rates 2.80% - 5.25% 3.30% - 6.25%
Bank of India FD Rates 2.85% - 5.05% 3.35% - 5.55%
Canara Bank FD Rates 2.90% - 5.40% 2.90% - 5.90%
Central Bank of India FD Rates 2.75% - 5.00% 2.90% - 3.25%
DBS Bank FD Rates 2.50% - 5.50% 3.50% - 6.00%
HDFC Bank FD Rates 2.50% - 5.60% 3.00% - 6.35%
IDFC Bank FD Rates 2.50% - 6.00% 3.00% - 6.50%
Indian Bank FD Rates 2.90% - 5.15% 3.40% - 5.65%
Indian Overseas Bank FD Rates 3.40% - 5.20% 3.90% - 5.70%
IndusInd Bank FD Rates 2.50% - 6.00% 3.00% - 6.50%
Punjab National Bank FD Rates 2.90% - 5.25% 3.50% - 5.75%
SBI FD Rates 5.30% - 5.40% 5.80% - 6.20%
UCO Bank FD Rates 2.55% - 5.05% 3.80% - 6.30%
Yes Bank FD Rates 3.25% - 6.25% 3.75% - 7.25%
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Axis Bank FD rates for Senior Citizens

Axis Bank offers appealing interest rates, ranging between 2.50% to 6.50% 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:

Tenure Regular customers Senior citizens
7 days to 14 days 2.50% 2.50%
15 days to 29 days 2.50% 2.50%
30 days to 45 days 3.00% 3.00%
46 days to 60 days 3.00% 3.00%
61 days to less than 3 months 3.00% 3.00%
90 days to 119 days 3.50% 3.50%
4 months to less than 5 months 3.50% 3.50%
5 months to less than 6 months 3.50% 3.50%
6 months to less than 7 months 4.40% 4.65%
7 months to less than 8 months 4.40% 4.65%
8 months to less than 9 months 4.40% 4.65%
9 months to less than 10 months 4.40% 4.65%
10 months to less than 11 months 4.40% 4.65%
11 months to less than 11 months 25 days 4.40% 4.65%
11 months 25 days to less than 1 year 4.40% 4.65%
1 year to less than 1 year 5 days 5.10% 5.75%
1 year 5 days to less than 1 year 11days 5.15% 5.80%
1 year 11days to less than 1 year 25days 5.10% 5.75%
1 year 25 days to less than 13 months 5.10% 5.75%
13 months to less than 14 months 5.10% 5.75%
14 months to less than 15 months 5.10% 5.75%
15 months to less than 16 months 5.10% 5.75%
16 months to less than 17 months 5.10% 5.75%
17 months to less than 18 months 5.10% 5.75%
18 months to less than 2 years 5.25% 5.90%
2 years to less than 30 months 5.40% 6.05%
30 months to less than 3 years 5.40% 6.05%
3 years to less than 5 years 5.40% 6.05%
5 years to 10 years 5.75% 6.50%
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*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 investors can take a loan against 90% of their deposited amount.

  • The interest rate of the loan can range from 2% to 4%. Besides that, the tenure will be the same as the tenure of the FD. 

  • Nomination facility is available.

  • Minimum FD Deposit in Axis Bank is Rs. 10,000.

  • The short-term FD's have a tenure that starts from 7 days and less than 365 days.

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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 6.50%. 

  • 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.

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About Axis Bank Fixed Deposit Interest Rate Calculator

Axis Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:

  • The amount that is invested

  • The Rate of Interest offered

  • The tenure of the Fixed Deposit Account

  • The compounding period, that is, yearly, half-yearly, quarterly, or monthly

  • The FD Amount

Once entered the following details, an investor will come to know:

  • The maturity value of the FD

  • The total interest earned during the complete tenure

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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. 

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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.

FAQ's

  • Q. Can I open an FD account online?

    Ans: Yes. For the convenience of the customers, Axis bank offers its fixed deposit services online as well. 
  • Q. Can I open an FD for three months?

    Ans: The minimum duration of an FD account in Axis bank can be 7 days. Individuals can invest money for any period above that.
  • Q. Is the FD deposit online safe?

    Ans: Yes, the Axis bank facility of the online deposit is entirely safe.
  • Q. Can I change the FD nominee?

    Ans: Yes. It can be done, but you will have to visit the bank to process the request. 
  • Q. What is the maximum tenure of an Axis Bank FD?

    Ans: You can invest for a minimum of seven days and a maximum of ten years.

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