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.

Key Benefits of Axis Bank Senior Citizen FD

An Axis Bank Senior Citizen FD is designed for individuals aged 60 years and above, offering competitive FD interest rates. Below are the benefits of Axis Bank Senior Citizen FD

• Flexible Investment Amount: You can start a Senior Citizen FD with a minimum deposit of ₹5,000. There is no maximum limit, making it accessible for a wide range of investors. For FDs opened at a bank branch, the minimum is ₹10,000.
• Auto-Renewal Facility: Axis Bank does offer an auto-renewal option for FDs. By default, the entire maturity amount (principal + interest) will be renewed for the same tenure at the prevailing interest rate. For monthly or quarterly interest payout FDs, only the principal amount is renewed. This saves you the effort of manually renewing the deposit.
• Premature Withdrawal: Axis Bank permits the premature withdrawal of FDs. A penalty of 1% on the interest earned may be applied for early closure. However, for certain digital FDs and for the first partial withdrawal up to 25% of the original principal amount, the penalty may not apply. No interest is paid for withdrawals made within 7 days of the deposit.
• Multiple Payout Options: The bank provides flexibility in how you receive your interest. You can choose from monthly, quarterly, half-yearly, or cumulative payout options, allowing you to manage your income flow to suit your needs.
• Sweep-in and Sweep-out Facility: Axis Bank offers this feature, which is called "Auto Fixed Deposit" (AFD). It automatically transfers surplus funds from your savings account to a linked FD to earn a higher interest rate. The "sweep-out" functionality ensures that if your savings account balance falls below a certain threshold, the necessary funds are automatically transferred back from the FD, providing liquidity without you having to manually withdraw.

Axis FD Interest Rates for Senior Citizens

Here’s a quick overview of the Axis Bank FD rates for senior citizens for different tenures, below ₹ 3 crores:

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

*Axis Bank FD interest rates w.e.f. Sept 09, 2025
*Senior Citizen Rates do not apply to NRIs

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

Here’s a quick overview of the Axis Bank FD rates for senior citizens for different tenures, from ₹3 Crores to less than ₹5 Crores

*Axis Bank FD interest rates w.e.f. Sept 09, 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, tenure, and interest payout frequency.
   • Complete KYC: Engage in a brief video KYC call with an authorized 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

While the interest earned on a Senior Citizen Fixed Deposit is taxable, it receives a significant benefit under the Income Tax Act.

• Taxable Income: Interest from these FDs is considered "Income from Other Sources" and is added to your total income, which is then taxed according to your applicable income slab.
• Deduction under Section 80TTB: Senior citizens (aged 60 and above) can claim a tax deduction of up to ₹50,000 on the total interest earned from all their bank and post office deposits. This helps in lowering their overall taxable income and reduces their tax burden.
• Encourages Savings: This tax provision ensures that senior citizens can enjoy a higher net income from their fixed deposit investments, making FDs a safe and reliable component of their post-retirement financial plan.

Key Takeaway

Axis Bank FD rates for senior citizens are typically 0.50% to 0.75% higher than regular FDs. Senior citizens can opt for online banking to open an FD at Axis Bank or visit the branch. Depositors can choose tenures from 7 days to 10 years, receive interest payouts at preferred intervals, with auto-renewal and multi-payment options they can apply for loans up to 85% of their FD amount. Sweep-in or sweep-out with Flexible Investment Amount facilities are also available.