Axis Bank Fixed Deposit (FD) Interest Rates

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08 min read.

Axis Bank offers a few fixed deposit (FD) schemes targeting the domestic and non-resident Indian customers at attractive interest rates. You can open an FD account with the bank with ease and earn attractive interest rates on your deposit across all tenures. Here is all that you need to know about the FD schemes offered by Axis Bank.

Deposit TenureInterest Rate for Regular Customers (% p.a.)*Interest Rate for Senior Citizens (% p.a.)*
7 days to 14 days2.502.50
15 days to 29 days2.502.50
30 days to 45 days3.00 3.00 
46 days to 60 days3.00 3.00 
61 days < 3 months3.00 3.00 
3 months < 4 months3.50 3.50 
4 months < 5 months3.50 3.50 
5 months < 6 months3.50 3.50 
6 months < 7 months4.404.65
7 months < 8 months 4.404.65
8 months < 9 months4.404.65
9 months < 10 months4.404.65
10 months < 11 months4.404.65
11 months < 11 months 25 days4.404.65
11 months 25 days < 1 year5.155.40
1 year < 1 year 5 days 5.155.80
1 year 5 days < 1 year 11 days5.105.75
1 year 11 days < 1 year 25 days5.105.75
1 year 25 days < 13 months5.105.75
13 months < 14 months5.105.75
14 months < 15 months5.105.75
15 months < 16 months5.105.75
16 months < 17 months5.105.75
17 months < 18 months5.105.75
18 Months < 2 years5.255.90
2 years < 30 months5.406.05
30 months < 3 years5.405.90
3 years < 5 years5.405.90
5 years to 10 years5.506.00

*Interest rates are subject to change from time to time.

Different Types of Axis Bank FD Schemes

  1. Express Fixed Deposits:

    Express Fixed Deposit, an industry-first digital FD scheme, allows customers to open an FD account online within three minutes even if there is no savings account. The minimum amount required to open the account is Rs.5,000, and the minimum tenure is six months. Just provide your basic details to open the account. It is coupled with zero issuance fees and no penalty on premature withdrawal of up to 25% of the amount.

  2. Fixed Deposits:

    The scheme requires you to deposit a minimum sum of Rs.5,000 when booked via internet banking or the mobile app for a tenure ranging from 7 days up to 10 years. The minimum deposit will be at Rs.10,000 if you wish to open the account via a branch. You can open the account online and transfer the deposit to the FD account from your savings account easily. Get attractive interest rates across tenures and enjoy the automatic roll-out facility on the interest accrued.

  3. Fixed Deposit Plus:

    Axis Bank offers this scheme such that you can get higher returns on investment as compared to the regular FD schemes. The scheme is open for all domestic and NRI customers. You can earn simple or compound interest on the minimum deposit sum of Rs.5,00,00,000. The scheme offers multiple deposit types without a maximum limit on the investment amount.

  4. Auto Fixed Deposit:

    The scheme links your existing savings account to the FD account, facilitating the auto-transfer of money in the multiples of Rs.5,000 to the FD account when your savings account balance exceeds Rs.25,000. The FD account can have a minimum tenure of six months up to the maximum tenure of five years. The scheme offers an easy liquidation option.

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.

Frequently Asked Questions

How does the Auto Fixed Deposit scheme provide an easy liquidation facility?

The Auto Fixed Deposit scheme allows you to access the account balance via a cheque or ATM card. Further, the account comes with a reverse swept option where the funds in the FD account will be transferred to the linked savings account in the multiples of Rs.5,000 whenever the savings account balance goes below Rs.25,000.

Does the same set of interest rates apply for all schemes?

No, the interest rates vary among the different FD schemes offered. For example, the interest rate for the Fixed Deposit scheme is different from the ones for Fixed Deposit Plus scheme. Also, the ones offered to resident Indians may be different from the ones offered for NRIs.

How does automatic roll-over facility work?

An automatic roll-over facility refers to the automatic renewal of the deposit. The bank offers two ways of roll-over facility.

  • Only on the principal: In this case, the principal of the FD account will be rolled over or will be renewed for another cycle. The interest accrued in the former FD account will be paid out or credited to the customer’s savings account.
  • On both principal and interest: In this case, both the principal and interest earned will be together used as a deposit for the renewed FD account.
In the case of joint accounts, how is the maturity amount paid?

In the case of joint accounts, the FD certificate is issued jointly to two adults or jointly to one adult and a minor. The maturity amount will be paid to either of the holders or the survivor.

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