Axis bank is one of the renowned leading private banks in India, holding its corporate office in Mumbai, Maharashtra. Axis Bank provides multiple fixed deposit options to individuals, NRIs, and Senior Citizens. You can park surplus savings in an Axis Bank FD for a fixed duration and earn interest on the amount deposited. The bank offers competitive interest rates compared to other banks in the financial market, with tenure ranging from 7 days to 10 years. Read more
Returns (Max Tenure)
* Assuming investment of ₹ 1 Lakh per year & income tax slab of 30%
There are multiple options under the Fixed Deposit Scheme offered by Axis bank for customers to save a generous amount from their earnings to fulfill their future financial requirements.
Axis Bank also provides tax-saving deposits and FD options like FD Plus, Encash 24 Flexi Deposit, Regular Deposit, etc., which come with an online banking facility, seep-in facility, and loan facility. You can also make huge profits with a five-year tax-saving fixed deposit scheme.
Under the FD tax deduction benefit option, one can save up to Rs. 1,50,000 annually as per Section 80C of the Income Tax Act, 1961. It is extremely convenient and easy to open an FD account online by logging in to the Axis internet banking account.
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
Axis Bank Fixed Deposit Rates
Axis FD Rates for Above Rs. 5 Crores (Domestic Deposits)
Rates with effect from 1st August 2022
7 days to 14 days
15 days to 29 days
30 days to 45 days
46 days to 60 days
61 days but less than 3 months
3 months but less than 4 months
4 months but less than 5 months
5 months but less than 6 months
6 months but less than 7 months
7 months but less than 8 months
8 months but less than 9 months
9 months but less than 10 months
10 months but less than 11 months
11 months but less than 11 months 25 days
11 months 25 days but less than 1 year
1 year but less than 1 year 5 days
1 year 5 days but less than 1 year 11 days
1 year 11 days but less than 1 year 25days
1 year 25 days but less than 13 months
13 months but less than 14 months
14 months but less than 15 months
15 months but less than 16 months
16 months but less than 17 months
17 months but less than 18 months
18 months but less than 2 years
2 years but less than 30 months
30 months but less than 3 years
3 years but less than 5 years
5 years to 10 years
*FD Rates are subject to change. Check Bank's website for the latest FD rates.
Types of Axis Bank FD Schemes
Axis Bank Tax Saver Fixed Deposits
Encash 24 Flexi Deposit
Fixed Deposit Plus
Regular Fixed Deposit
The detailed description of these fixed deposit schemes is as follows:
1. Axis Bank Tax Saver Fixed Deposits
In this scheme, the bank offers flexibility for choosing between a joint holder type of deposit and a single holder type of deposit. The Axis Bank FD rates in this scheme depend upon the applicant's category applying for this policy.
The facility of nomination is available.
Option to select from a joint or single holder type of deposit.
The facility of tax benefits is offered under Section 80C of the Income Tax Act.
Hindu Undivided Family and Resident Indians
2. Encash 24 Flexi Deposit
This fixed deposit scheme of Axis Bank offers the dual benefit of the earnings of an FD account and liquidity of a savings account.
This scheme provides an Auto-renewal facility.
Tax benefits under Section 80C of the Income Tax Act, 1961.
Benefits with shorter tenure.
Your fixed deposit account is linked to your existing savings account.
Anyone with a Savings Account with Axis Bank and valid PAN card details.
3. Fixed Deposit Plus:
In this scheme, the customers earn the highest Axis Bank FD rates as compared to a regular FD.
A nomination feature is provided.
Allows earning higher returns on FD.
TDS deductions are applicable on this FD.
Gives the option to select from the type of deposit: short–term deposit, monthly deposit, reinvestment deposit, or quarterly pay-out FD.
Gives the option to select your method to calculate interest.
Hindu undivided family, resident Indian, partnership firms, a sole proprietorship firm, trust, and limited companies.
4. Regular Fixed Deposit
With security and flexibility, this scheme offers the benefit of earning higher Axis Bank FD rates.
Availability of nomination facility.
One can open this FD account hassle-free without putting much effort.
Offers short-term facility.
Hindu undivided family, resident Indian, and sole proprietorship companies.
Axis Bank Fixed Deposit Term Wise Interest Rates
1. Axis Bank Short-term FDs range between 7 days and 1 year
For short-term deposits, you can earn returns on your investments anywhere between 2.50% and 5.10% (regular FDs)
Senior citizens can earn investment returns between 2.50% and 5.45% on their deposits (lesser than Rs 5 crore).
For deposits above Rs 5 crore, the Fixed Deposit range lies between 2.50% to 4.00%.
2. Axis Bank Medium Fixed Deposit Rates
Long-term FDs can range anywhere between 1 year and 5 years
Axis Bank FD rates will range from 5.10% to 5.40%
3. Axis Bank Long-term Deposits:
These fixed deposits by Axis Bank have their tenure ranging from 5 years to 10 years and offer an interest rate of 5.75%.
Features of Axis Bank FD Account
The features and benefits of these fixed deposits are:
The tenure of Axis Bank fixed deposits ranges from 7 days to 10 years.
The Axis Bank FD rates are attractive, and the senior citizens get a 0.50% extra rate of interest on regular Axis Bank FD interest rates.
You can start your fixed deposit account with Axis Bank by investing a minimum amount of Rs. 10,000.
The bank provides the facility wherein you can avoid the penalties over premature encashment of the fixed deposits.
A nomination facility is available.
Premature withdrawals are available depending upon the bank scheme.
The fixed deposit account opening process is extremely easy and quick.
The bank provides the facility of loan against FD of up to 90% of the FD amount.
There are many fixed deposit options to select from.
Eligibility Criteria for Axis Bank Fixed Deposits
Companies and individuals who satisfy any of the below-mentioned criteria can easily open an Axis Bank FD account:
Senior citizens and super senior citizens
Resident individuals, which include minors as well
Hindu Undivided Families (HUF)
Partnership firms, sole traders, and companies with joint stock.
Identity proof through KYC documents like Aadhar Card, Voter ID card, Driving License, etc.
Proof of address through KYC documents like passport or utility bills such as water bills, electricity bills, etc.
PAN card according to the rules established by the Department of Income Tax India.
Loan Against Axis Bank Fixed Deposits
A maximum of 90% loan against your FD deposits can be availed.
The tenure of the loan is limited up to the maximum duration of your FD.
How to Invest in the Axis FD Scheme
An investor can opt for either of the following methods to invest in the Axis FD Scheme:
1. Internet Banking
The following steps need to be followed to invest via internet banking:
Login to the Axis account
Click on the "Open Fixed Deposit" option under the "transaction" tab.
Fill in the needful details like the policy's tenure and the amount willing to be invested.
Provide nominee details.
Confirm all the details before proceeding further.
A receipt will be generated that can be downloaded instantly.
2. Axis Bank Mobile Application
The following steps need to be followed to open an FD account via the mobile application of Axis:
Download the Axis bank application on your mobile (can be either ios or android).
After creating credentials, one can sign in to the application.
Head to the main menu and select the deposit option after signing in.
Under the "Deposits" option, choose the "Open Fixed Deposit" tab.
Fill in all the required details and upload the required documents.
A receipt will be generated after successfully providing all the details, which can be downloaded immediately.
3. An Axis Bank FD Account Offline
In the offline method of opening an Axis Fixed Deposit Account, the investor needs to visit the nearest Axis bank branch and fill out forms to open their respective FD account. All the relevant documents must be submitted to the branch manager along with the deposit amount. After successfully verifying all the provided documents, the branch manager provides a receipt that is the account opening proof for the investor.
Axis Bank Fixed Deposit Interest Rates - FAQs
What are the highest Axis Bank FD rates?
The Axis Bank offers a maximum of 5.75% interest rate on your deposits.
What is the Axis Bank FD interest rate offered on senior citizens' FDs?
Usually, senior citizens are offered a 0.5% higher interest rate on the FDs, and it ranges from 2.50% to 6.50% depending on the amount invested.
What are the FD tenure options with Axis Bank?
You can choose any tenure between 7 days and 10 years.
What is the minimum amount required to start an Axis Bank fixed deposit account?
You can start your FD with 10,000 rupees.
Can I add more money to my existing FD?
It is only possible to invest money at the time of opening an FD. If you want to invest more money, then you will have to open a new FD account.
What is the eligibility criterion to open an Axis Bank FD account?
All resident individuals, Firms, HUFs, NRIs are eligible to invest in the Axis Bank fixed deposits.
Do I need to submit any documents to start an Axis Bank FD?
You need to provide 2 photographs, a Driving License, or a passport to start a fixed deposit account.
Can I open my Axis Bank FD without a PAN card?
You will have to face the following consequences or not having a PAN card while opening an FD Account-
Instead of 10%, the TDS deduction will be done at the rate of 20%
You will not get any TDS credit
No issuance of TDS certificate
It will invalidate your exemption certificates
Can I make alterations to the tenure of my ongoing Axis Bank FD?
You cannot make alterations to the tenure of an ongoing FD. However, you can start a new FD with the desired tenure.
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