Axis Bank FD Rates for NRE

Axis Bank is a private bank with about 4094 branches around India and 9 international branches over the important places in the world. Not only Indian citizens but also Non-Residential Indians can also invest in the fixed deposit associated with the Axis Bank. The depositor needs to hold a Non-Resident External account or a Non-Resident Ordinary account with the bank.

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Axis Bank FD for NRIs

A fixed deposit (FD) is a financial application that any banks and non-banking finance organizations offer to its customers. With the level of comparison, a fixed deposit yields a higher rate of interest than a savings account. The money in the fixed deposit can’t be withdrawn until the maturity date specified. 

As the name suggests, fixed deposits allow the consumer to invest for a certain fixed period of time. The consumer has the option to choose between the short-range and the long-range investment based on their portfolio. The rate of interest on the fixed deposits may vary between the providers. 

As an investor in fixed deposit, you need to remember that the money invested can’t be withdrawn before the completion of maturity. In case of emergencies, you can withdraw the amount, but you need to pay the concerned penalties. Here is the information that you need to know about the Axis Bank NRI FD rates.  

Types of FD for NRIs

Axis Bank provides an option for the Non-Residential Indian to invest in the fixed deposits. There are several kinds of fixed deposit linked with the Axis Bank. The list of types of FD and the Axis Bank NRE FD rates are as follows, 

Non-Resident Ordinary Fixed Deposit Account

  • You can earn interest with an automatic renewal along with the automatic re-establishment of principal and maturity interest. 
  • You have an option to choose the period of maturity according to your requirements. The tenure period ranges from seven days to ten years. 
  • Axis Bank provides an option to withdraw a partial amount from the deposit amount when required, i.e., you have an opportunity for partial withdrawal from the deposits. 
  • Loans can be claimed against the FD security.
  • According to the Axis Bank NRI FD rates, the consumer is allowed to have a nominee. 

Non-Resident Indian Fixed Deposit Plus

  • The minimum deposit associated with a Non-Resident External Fixed Deposit is Rs. 5 crores, and it has no maximum limit.
  • It is available for both NRO and NRE variant.
  • You can also choose between the options available for simple interest and compound interest. 
  • Based on the Axis Bank NRE Fixed Deposit rates, the interest will be paid monthly, quarterly or on maturity. 
  • According to the Axis Bank NRE FD rates, you can’t withdraw the deposit amount.

Foreign Currency Non-Resident Deposit

  • The minimum period of tenure in the FCNR deposit is one year, and that maximum is five years. 
  • You can withdraw the deposit amount, but a penalty has to be paid. 
  • You can invest the amount in six foreign currencies. 
  • The interest rates will be calculated on the basis of the Axis Bank NRI FD rates. For the period of one year, there will be no compounding effect, and the interest rate is fixed.
  • For a period of higher than one year, the interest is compounded at a regular interval of 180 days, and again, the cycle continues. 
  • The interest amount will be paid on the basis of the Axis Bank NRE FD rates from 360 days to one year. 

Resident Foreign Currency Term Deposit

  • There is no risk factor associated with foreign exchange conversion. 
  • You can select a nominee for the fixed deposit.
  • You have an option to invest in five different currencies in the Resident Foreign Currency Term Deposit.
  • The tenure of the deposit ranges from 30 days to five years and are in accordance with the Axis Bank NRE FD rates.

Non-Resident External Rupee Deposit

  • This deposit is suitable for long term investments. The deposit period ranges from one year to ten years. 
  • Withdrawal of the deposit amount is possible but with penalty interest.
  • You can also have a nomination for the fixed deposit account. 
  • You can earn interest with an automatic renewal along with the automatic re-establishment of principal and maturity interest in accordance with the Axis Bank NRE FD rates. 

Rates Associated with FD Types

The following are the rates associated with the types of FDs for NRI:

Non-Resident Ordinary Fixed Deposit Account

The Axis Bank NRE Fixed Deposit rates for a deposit below 2 Crore:

  • Seven days to 29 days – 2.50
  • 30 days to lower than three months – 3.00
  • Three months to lower than six months – 3.50
  • Six months to lower than 11 months and 25 days – 4.40
  • 11 months and 25 days to lower than one year – 5.15
  • One year to less than 18 months – 5.10
  • 18 months to lower than two years – 5.25
  • Two years to less than five years – 5.40
  • Five years to ten years – 5.75

The Axis Bank NRE Fixed Deposit rates for a sum between Rs. 2 Crore and Rs. 4.91 Crore:

  • Seven days to 14 days – 2.70
  • 15 days to lower than 30 days – 2.75
  • 30 days to 60 days – 3.00
  • 61 days to lower than three months – 3.20
  • Three months to lower than six months – 3.45
  • Six months to lower than nine months – 3.80
  • Nine months to lower than one year – 3.95
  • One year to less than two year – 4.15
  • Two years to ten years – 4.35

The Axis Bank NRI FD rates for a sum of 4.1 to 4.29 Crore:

  • Seven days to lower than 60 days – 2.50
  • 61 days to lower than six months – 2.60
  • Six months to lower than one year – 2.75
  • One year to ten year – 3.00

The Axis Bank NRE Fixed Deposit rates for a deposit of Rs. 4.92 Crore to Rs. 5 Crore:

  • Seven days to 14 days – 2.70
  • 15 days to lower than 30 days – 2.75
  • 30 days to 60 days – 3.00
  • 61 days to lower than three months – 3.20
  • Three months to lower than six months – 3.45
  • Six months to lower than nine months – 3.80
  • Nine months to lower than one year – 3.95
  • One year to less than two year – 4.15
  • Two years to ten years – 4.35

Non-Resident Indian Fixed Deposit Plus

The Axis Bank NRI Fixed Deposit rates for sum Rs. 5 Crore to 10 Crore:

  • One year to lower than two years – 4.35
  • Two years to ten years – 4.55
  • For a deposit of 10 to 25 Crore
  • One year to lower than two years – 4.35
  • Two years to ten years – 4.55

The Axis Bank NRE Fixed Deposit rates for a sum of Rs. 25 Crore to 100 Crore

  • One year to lower than two years – 4.35
  • Two years to ten years – 4.55

The Axis Bank NRI Fixed Deposit rates for a sum above Rs. 100 Crore

  • One year to lower than two years – 4.35
  • Two years to ten years – 4.55

Foreign Currency Non-Resident Deposit

The Axis Bank NRI FD Rates associated with the FCNR account are as follows:

Period of time

USD

EURO

JPY

GBP

CAD

AUD

One year to lower than two years

0.50

0.01

0.01

0.30

0.55

0.40

Two years to lower than three years

0.30

0.01

0.01

0.30

0.55

0.40

Three years to lower than four years

0.45

0.01

0.01

0.30

0.55

0.40

Four years to lower than five years

0.55

0.01

0.01

0.30

0.55

0.50

For five years

0.60

0.01

0.01

0.30

0.55

0.60

Resident Foreign Currency Term Deposit

The Axis Bank NRE FD rates with the RFC term deposit are:

Period of time

USD

EURO

CAD

GBP

AUD

30 days to lower than three months

0.15

0.01

0.35

0.15

0.30

Three months to lower than six months

0.25

0.01

0.35

0.15

0.30

Six months to lower than one year

0.30

0.01

0.35

0.15

0.30

One year to lower than two years

0.50

0.01

0.55

0.30

0.40

Two years to lower than three years

0.30

0.01

0.55

0.30

0.40

Three years to lower than four years

0.45

0.01

0.55

0.30

0.40

Four years to lower than five years

0.55

0.01

0.55

0.30

0.50

For five years

0.60

0.01

0.55

0.30

0.60

Non-Resident External Rupee Deposit

The Axis Bank NRI Fixed Deposit rates for a sum below Rs. 2 Crore:

  • One year to lower than 18 months – 5.10
  • 18 months to lower than two years – 5.25
  • Two years to less than five years – 5.40
  • Five to ten years – 5.75

The Axis Bank NRE Fixed Deposit rates for sum Rs. 2 Crore to 4.91 Crore:

  • One year to lower than two years – 4.15
  • Two years to ten years – 4.35

The Axis Bank NRI FD rates for sum Rs. 4.91 Crore to Rs. 4.92 Crore:

  • One year to ten years – 3.00

The Axis Bank NRE FD rates for a sum of Rs. 4.92 Crore to Rs. 5 Crore:

  • One year to lower than two years – 4.15
  • Two years to ten years – 4.35

The Axis Bank NRI Fixed Deposit rates for sum Rs. 5 Crore to 10 Crore:

  • One year to lower than two years – 4.15
  • Two years to ten years – 4.35

The Axis Bank NRI Fixed Deposit rates for a sum of Rs. 10 Crore to Rs. 24.75 Crore:

  • One year to lower than two years – 4.15
  • Two years to ten years – 4.35

The Axis Bank NRE Fixed Deposit rates for a sum of Rs. 24.75 Crore to 25 Crore:

  • One year to ten years – 3.00

The Axis Bank NRI FD rates for sum Rs. 25 Crore to Rs. 50 Crore:

  • One year to lower than two years – 4.15
  • Two years to ten years – 4.35

The Axis Bank NRE FD rates for sum Rs. 50 Crore to 100 Crore:

  • One year to lower than two years – 4.15
  • Two years to ten years – 4.35

The Axis Bank NRI Fixed Deposit rates above Rs. 100 Crore:

  • One year to lower than two years – 4.15
  • Two years to ten years – 4.35

Conclusion

The Axis Bank allows an option for the NRIs to make an investment in the fixed deposits of India. The Axis Bank NRI Fixed Deposit rates are determined by the bank, and they can change from three months to six months. 

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

*Standard T &C Apply

Written By: PolicyBazaar - Updated: 31 August 2021
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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