Log In Sign Up

Invest in Mutual Funds &
Get More Returns

Start Investing

For opening a fixed deposit with ease, and at attractive interest rates, Axis Bank Fixed Deposit is a good move. Let us look at the different topics covered in this article, related to Fixed Deposit:

  1. Axis Bank FD Interest Rates for different Investment Periods
  2. Axis Bank FD Interest Rates
  3. FD in Axis Bank – Premature Withdrawal
  4. Loan against Fixed Deposit Axis Bank
  5. Documents required to open Fixed Deposit Account in Axis Bank

1. Axis Bank FD Interest Rates for different Investment Periods

Investment period FD rates for regular deposit FD rates for Senior Citizens
7 days to 29 days 3.50% 3.50%
30 days to 45 days 5.50% 5.50%
46 days to 89 days 6.00% 6.00%
90 days to 119 days 6.20% 6.20%
4 months to 179 days 6.25% 6.25%
6 months to 8 months 29 days 6.25% 6.50%
9 months to 364 days 6.50% 6.75%
1 year to 1 year 4 months 29 days 6.75% 7.25%
1 year 5 months to 1 year 5 months 29 days 6.85% 7.35%
1 year 6 months to 10 years 6.25% 6.75%

* The above rates are applicable for deposits of below Rs. 1 crore.
** Figures mentioned in the above table are subject to change without prior information.

2. Axis Bank FD Interest Rates

Axis Bank offers multiple fixed deposit options to their customers to park their surplus savings for a fixed tenure. A customer is required to make a deposit once into their FD account at the time of opening the account with the bank. The customer is not allowed to deposit more money and withdraw any money in the account during the tenure of the deposit. Fixed Deposits of Axis Bank have a higher interest rate compared to their saving deposits. Benefits of opening an FD account in Axis Bank are:

  • Convenience of opening a fixed deposit account with ease
  • Nomination facility available
  • Enjoy benefit with a shorter minimum tenure
  • Earn higher returns on the money deposited
  • Avail automatic rollover facility on your principal and interest both

Axis Bank Fixed Deposit Interest Rate

3. FD in Axis Bank – Premature Withdrawal

Premature closure of Term Deposit with Axis Bank is along with the lower interest rate of 1% than the contracted rate. The penal provisions for premature closure on Axis Bank FD are subject to change from time to time and may also vary with deposit schemes.

4. Loan against Fixed Deposit Axis Bank

Axis Bank offers the loan up to 90% against its own deposit. Note that Axis Bank will not give you the loan against FD of any other bank. Axis Bank offers Loan against FD at the rate of 4.5% to 7.85%

Maximum loan tenure is restricted up to the maximum tenure of the FD.

Illustration – Mr. Rahul has opened a fixed deposit of Rs. 100,000 for 2 years in Axis Bank. The borrower later decided to take the loan against his FD. The bank has approved a credit limit of 90% against his FD at 10% interest rate. Now, if the borrower draws Rs. 90,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on Rs. 90,000 availed for 1 month only. The amount he repays after 1 month is Rs. 90,744. So, the interest charged on the loan taken is Rs. 744.

5. Documents required to open Fixed Deposit Account in Axis Bank

  • Passport or Driving License
  • 2 Photographs

2x higher returns than FD / RD

Start Investing