AXIS Bank RD Rates

Axis Bank RD Interest Rates 2023 

The following table shows the Axis Bank RD account interest rates on deposits of up to Rs. 2 crores w.e.f. 18.05.2023:

Disclaimer: RD Interest rates are subject to change with time. Policybazaar does not endorse, rate, or recommend any particular company or product. The investment risk in the investment portfolio is borne by the policyholder. 

What are Axis Bank RD Interest Rates?

Axis Bank RD rates refer to the percentage of interest that Axis Bank offers customers on their Recurring Deposit (RD) investments.

• You open an RD account with Axis Bank and deposit a fixed amount of money each month for a specific tenure

• The bank calculates and pays you interest on your accumulated deposits

• Higher interest rates result in higher returns, while lower interest rates yield low returns

What are the Features of Axis Bank Recurring Deposit Scheme?

The key features of RD in Axis Bank are listed in the table mentioned below:

** You can use Axis Bank RD Calculator to estimate the maturity amount and interest earned on your recurring deposit.

What are the Benefits of Axis Bank RD Interest Rates?

Some of the advantages of Axis Bank Recurring Deposit Interest Rates are as follows:

• Competitive Interest Rates

• Flexible tenure options ranging from a few months to several years

• Offers the convenience of automated debit from your savings account

• Encourage disciplined savings as you commit to depositing a fixed amount every month

• Provide stable returns, as they are not subject to market fluctuations

• Axis Bank RDs offer a nomination facility, ensuring the protection of your savings and benefits your loved ones

What is the Eligibility Criteria to Open an Axis Bank RD?

The following are eligible for the Axis Bank RD account:

• Indian citizens or Hindu Undivided Families 

• NRIs via NRO and NRE accounts.

• Minors under parental guardianship

What are the Documents Required for Axis Bank Recurring Deposit Scheme?

An individual requires the following documents to open an Axis Bank RD account:

How to Apply for an RD in Axis Bank?

You can open an Axis Bank Recurring Deposit Account through the following modes:

1. Internet Banking

   Step 1: Log in to the Axis Bank Internet banking account

   Step 2: Click on the "Deposit" section

   Step 3: Select the "Create Recurring Fixed Deposit" tab

   Step 4: Fill in the application form with all the relevant details of the account holder and the nominee

   Step 5: Upon confirmation of the application, the selected premium amount gets debited from your savings account

   The RD document will be available for you instantly  to download

2. Mobile Banking

   Step 1: Download and install the Axis Bank mobile banking app from the Google Play Store or Apple App Store

   Step 2: log in using your credentials (customer ID and password)

   Step 3: Navigate to the "Accounts" or "Deposits" section within the app

   Step 4: Click on the option "Create RD Account"

   Step 5: Select the type of RD account you want to open, such as "Normal RD" or "Tax Saver RD"

   Step 6: Decide the tenure and monthly instalment amount for your RD account

   Step 7: Provide any additional information or documents requested by the bank

   Step 8: Accept the terms and conditions and submit the application form

   Step 9: Pay the initial deposit amount as required by the bank

   Once your RD account is successfully opened, you will receive a confirmation from the bank

3. Bank Branch

   Step 1: Visit the Axis Bank branch nearest to you

   Step 2: Approach the customer service desk to provide you with the necessary application form

   Step 3: Fill out the RD application form with accurate details for the following:

   • Your name

   • Contact details

   • Address

   • PAN (Permanent Account Number)

   Step 4: Choose the tenure or duration for your RD account

   Step 5: Determine the monthly installment amount you wish to contribute toward your RD account

   Step 6: Specify the source of funds from your savings account in Axis Bank or another bank account

   Step 7: Submit the filled application form along with any required documents to the bank representative

   Step 8: Pay the initial deposit amount as required by the bank

   Once your RD account is successfully opened, you will receive a confirmation from the bank