Axis Bank Fixed Deposit Rates 2024

Axis Bank provides Fixed Deposit (FD) interest rates ranging from 3.00% to 7.20% per annum for the general public and from 3.50% to 7.85% per annum for senior citizens, with tenures spanning from 7 days to 10 years. Additionally, the bank offers Tax Saving FDs at 7.00% per annum for the general public and at 7.75% per annum for senior citizen depositors for 5-year tenures.

Axis FD Interest Rates 

*Interest Rates as of 13 March 2024

Axis Bank FD Interest Rates - Non-Callable

The following interest rates apply to Fixed Deposit Schemes that do not have a premature withdrawal facility. Domestic and NRI Customers can open FD account with a deposit of less than 2 crore. 

*Interest Rates as of 13 March 2024

Types of Axis Bank FD Schemes

1. Regular Fixed Deposit

• Minimum Deposit Amount: Rs 5,000 (online or mobile app); Rs 10,000 (branch visit).
• Tenure: 7 days to 10 years.
• Deposit Types: Quarterly compounding/Reinvestment, Quarterly payout, or Monthly payout interest schemes.
• Automatic rollover facility provided.
   

2. Digital Fixed Deposit

• Digital fixed deposit plan with full KYC (Know Your Customer) requirements. 
• Amount: You can start with as little as Rs 5,000 and go up to Rs 2 lakh.
• Tenure: Choose a tenor anywhere from 6 months to 10 years.
• There are no fees when you open this account.
• Premature withdrawal: If you need to withdraw some of your FD money early, you won't face any penalties as long as it's within 25% of the total FD amount.

3. Axis Auto Fixed FD

• Sweep-in: This scheme connects your FD account to your existing savings account. So, whenever the balance in your linked savings account goes over Rs. 25,000, money automatically moves in multiples of Rs 5,000 to your FD account.
• If your linked savings account balance drops below Rs. 25,000, the bank automatically takes out money in multiples of Rs. 5,000 from your most recent FD and puts it back into your savings account.
• Tenure: You can choose a period from 6 months to 5 years for your FD.
• Withdrawal: You can withdraw money anytime from your linked savings account using a cheque or ATM.
• The money taken out from the FD earns interest according to the rate applicable during the FD period.
• The remaining amount in the fixed deposit still earns interest at the agreed-upon rate.

4. Axis Tax Saver FD 

• This special savings plan helps you save on taxes according to Section 80C of the Income Tax Act.
• You can start with as little as Rs. 100 and deposit up to Rs. 1.5 lakh.
• Your money will be locked in for up to 5 years.
• You can choose from different types of deposits: Reinvestment, Quarterly Interest Payout, or Monthly Interest Payout.
• You won't have to pay any fees to open this account.
• This offer is only for people with single accounts.

5. Fixed Deposit Plus 

• Amount: You can start with a minimum deposit of Rs.5 Crore. There's no upper limit on how much you can deposit.
• Tenure: Choose a period between 7 days and 10 years.
• Interest Rate: both simple and compound methods.
• You can pick from different types of deposits: short-term, reinvestment, with monthly or quarterly interest payouts.
• Your deposit won't automatically renew.
• This option is open to both NRI and NRO customers.

Axis Bank FD Special Features and Benefits

• Get attractive interest rates on the deposit made.
• The minimum deposit tenure is seven days, and the maximum tenure is 10 years.
• The bank offers a tax-saving FD scheme that complies with Section 80C of the Income Tax Act.
• The minimum deposit amount is Rs.5,000.
• Tax will be deducted at source by the bank, if applicable, from the proceedings of the deposit.
• Axis Bank offers different schemes to suit the needs of customers.
• Open the FD account conveniently via internet banking, mobile app, or at the bank branch.
• Avail easy fund liquidation facility.
• Get the benefit of auto-renewal of the account.

Basic Eligibility Criteria for Axis Bank FD

• Indian resident individuals aged 18 years and above
• Non-Resident Indians (NRIs)
• Hindu Undivided Families (HUFs)
• Sole Proprietorship Firms
• Partnership Firms
• Limited Companies
• Trust Accounts

Documents Required

Individuals, HUFs, and Sole-Proprietorship Firms

• Valid passport or driving license
• An introduction by any other bank or by an Axis Bank Savings account holder (who is associated with the bank for the last six months)
• A photograph

Trusts

• Copy of the Trust Deed
• Copy of the Registration Certificate
• Copy of the Resolution of Trustees authorising the concerned members to open and operate the account
• Photographs of the members operating the account

Associations/Clubs

• Bye-laws of the Association
• Copy of the Resolution by the Board authorising the concerned members to open and operate the account
• Photographs of the members operating the account

Partnership Firms

• Partnership Deed
• Letter from partners approving the concerned persons to open and operate the account
• Photographs of the persons operating the account

Tax Benefits on Axis Bank Fixed Deposit

Axis Bank offers a Tax Saver Fixed Deposit scheme so that you can earn attractive interest rates, as well as get income tax benefits under Section 80C of the Income Tax Act,1961, at the same time. Make a minimum investment of Rs.100 up to Rs.1.5 lakh. You can choose to reinvest the interest accrued, get a quarterly payout, or monthly payout. Resident individuals and HUFs can get the benefits of the scheme. The account comes with a minimum lock-in period of five years.

The income tax will be deducted at source (TDS) according to the income tax rules prevalent from time to time. Suppose the total interest income from all fixed deposit and recurring deposit accounts exceeds Rs.40,000 (Rs.50,000 for senior citizens) per financial year. In that case, the tax will be deducted from the existing FD accounts at the time of interest application. This is done as per Section 194 A 3(i)(a) or Section 195 of the Income Tax Act.

FD Interest Rate Calculator

Use our FD calculator to figure out the returns you can expect based on the deposit you are willing to make.