Axis Bank NRI Fixed Deposits

Axis Bank offers a plethora of FD schemes for NRIs where they can safely invest their money and earn decent returns, along with special tax exemption benefits under some FDs. Axis Bank offers FD rates in the range of 3.50% to 7.75% depending upon the investment amount and tenure of the FD.

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Axis Bank offers the following Axis NRI FD Rates Schemes for their customers:

  • Axis NRE FD Rates Scheme

  • Axis NRO FD Rates Scheme

  • Axis FCNR Rates Scheme

It is essential to know that Axis NRE Bank FD Rates do not apply to NRI senior citizens and are exclusive only to Senior Citizens residing in India. Also, the minimum tenure for the NRE deposit interest rates is 1 year.

Difference Between NRE, NRO, and FCNR (B) Accounts

It is essential to know the difference between the 3 NRI FD account types before depositing the money:

Particulars NRE Account NRO Account FCNR-B Account
Account Purpose Income earned in a foreign country is deposited in an Axis NRE Interest Rate account. Income earned in India by NRIs is deposited in an Axis NRO Interest Rate account. Income earned in foreign currency is deposited in Axis FCNR (B) Deposit account.
Account Type Savings account, Recurring, or Current Savings, Recurring, or Current Fixed Deposit accounts with a 1-year minimum tenure
Currency denomination Indian Rupee Indian Rupee AUD, CAD, CHF, EUR, GBP, HKD, JPY, SGD, USD
Joint holding facility It can be held with other NRI. It can be held with other Indian residents or NRI. It can be held with other NRI.
Repatriation Facility Balance is fully repatriable. Interest earned is fully repatriated. Interest earned, and the principal amount is fully repatriable.
Taxability Tax is exempted from the interest income. Interest income is taxable. Tax is exempted from the interest income.

Axis NRE FD Rates for Less Than Rs. 2 Crores

Tenure General Citizens
1 year to less than 1 year 5 days 6.75%
1 year 5 days to less than 1 year 11 days 6.75%
1 year 11 days to less than 1 year 25 days  6.75%
1 year 25 days to less than 13 months 7.10%
13 months to less than 14 months 7.15%
14 months to less than 15 months 7.15%
15 months to less than 16 months 7.15%
16 months to less than 17 months 7.15%
17 months to less than 18 months 7.15%
18 months to less than 2 years 7.15%
2 years to less than 30 months 7.26%
30 months to less than 3 years 7.0%
3 years to less than 5 years 7.0%
5 years to 10 years 7.0%

Rates are effective as of 4th April 2023.

Guaranteed return plan Guaranteed return plan

Axis NRE FD Rates for Above Rs. 5 Crores to Less Than Rs. 10 Crores

Tenure General Citizens
1 year to less than 1 year 5 days 7.25%
1 year 5 days to less than 1 year 11 days 7.25%
1 year 11 days to less than 1 year 25 days  7.25%
1 year 25 days to less than 13 months 7.25%
13 months to less than 14 months 7.25%
14 months to less than 15 months 7.25%
15 months to less than 16 months 7.15%
16 months to less than 17 months 7.15%
17 months to less than 18 months 7.15%
18 months to less than 2 years 7.15%
2 years to less than 30 months 7.00%
30 months to less than 3 years 7.00%
3 years to less than 5 years 7.00%
5 years to 10 years 7.00%

Rates are effective as of 4th April 2023.

Axis NRO FD Rates for Less Than Rs. 2 Crores

Tenure General Citizens
7 days to 14 days 3.50%
15 days to 29 days 3.50%
30 days to 45 days 3.50%
46 days to 60 days 4.00%
61 days to less than 3 months 4.50%
3 months to less than 4 months 4.75%
4 months to less than 5 months 4.75%
5 months to less than 6 months 4.75%
6 months to less than 7 months 5.75%
7 months to less than 8 months 5.75%
8 months to less than 9 months 5.75%
9 months to less than 10 months 6.00%
10 months to less than 11 months 6.00%
11 months to less than 11 months 25 days 6.00%
11 months 25 days to less than 1 year 6.00%
1 year to less than 1 year 5 days 6.75%
1 year 5 days to less than 1 year 11 days 6.75%
1 year 11 days to less than 1 year 25 days 6.75%
1 year 25 days to less than 13 months 7.10%
13 months to less than 14 months 7.15%
14 months to less than 15 months 7.15%
15 months to less than 16 months 7.15%
16 months to less than 17 months 7.15%
17 months to less than 18 months 7.15%
18 Months to less than 2 years 7.15%
2 years to less than 30 months 7.26%
30 months to less than 3 years 7.00%
3 years to less than 5 years 7.00%
5 years to 10 years 7.00%

Rates are effective as of 4th April 2023.

Axis NRO FD Rates for Above Rs. 2 Crores to Less Than Rs. 5 Crores

Tenure General Citizens
1 year to less than 1 year 5 days 7.25%
1 year 5 days to less than 1 year 11 days 7.25%
1 year 11 days to less than 1 year 25 days  7.25%
1 year 25 days to less than 13 months 7.25%
13 months to less than 14 months 7.25%
14 months to less than 15 months 7.25%
15 months to less than 16 months 7.15%
16 months to less than 17 months 7.15%
17 months to less than 18 months 7.15%
18 months to less than 2 years 7.15%
2 years to less than 30 months 7.00%
30 months to less than 3 years 7.00%
3 years to less than 5 years 7.00%
5 years to 10 years 7.00%

Rates are effective as of 4th April 2023.

Want to Earn Better Returns Than FDs?

Max Life has come up with an all-new "Max Life Smart Fixed-Return Digital Plan" that provides a combination of higher fixed returns, life coverage, and tax savings, making it a preferred choice for investors looking for guaranteed fixed returns.

Why Smart Fixed Return Digital Plan?

Details Guaranteed Savings Fixed Deposits
Tax savings on premiums paid

(Under Sec 80 C up to Rs. 1.5 lakh per annum)

Yes Only on the Invested amount with 5-year lock-in 80C
Tax Saving on returns (Sec 10(10D)) Yes No
Life cover (Death Benefit) Yes No
Option to invest monthly Yes No
Interest Rate Guarantee Yes Every new investment may have a different interest rate.
Option to invest through Credit Card Yes No

Axis FCNR Rates

Tenure CAD AUD EURO GBP USD
1 year to less than 2 years 4.20% 3.70% 2.90% 4.00% 5.50%
2 years to less than 3 years 3.50% 3.75% 0.01% 3.75% 4.50%
3 years to less than 4 years 3.45% 3.80% 0.01% 2.45% 4.20%
4 years to less than 5 years 3.35% 4.00% 0.01% 2.45% 3.85%
5 years 3.30% 4.05% 0.01% 2.45% 3.80%

Rates are effective as of 4th April 2023.

In the End!

All the 3 SBI NRI Interest Rate accounts, that is, Non-Resident External (NRE), Non-Resident Ordinary (NRO), and Foreign Currency Non-Resident (FCNR), allow the NRIs to deposit their income efficiently and hassle-free in India. These accounts are completely safe for saving income and earning decent returns on the invested amount. The type of account should be chosen wisely that best suits the depositor’s needs (type of account will also be dependent on the account held by the customer).

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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