Earn interest up to 8.10% p.a. by investing in a Bajaj Finance Fixed Deposit | Rated CRISIL AAA/ STABLE and [ICRA]AAA(stable)

** Disclaimer: Axis Bank has not partnered with Bajaj Markets. The information is intended for educational purposes only. You are advised to contact the Banks/NBFCs for additional details.

 

A fixed deposit is one of the most secure investment options which offers guaranteed returns and is insulated from market risks. For tenors ranging from seven days to ten years, Axis Bank FD interest rates are 3.50% to 6.75% p.a. While Axis Bank fixed deposit rates  for senior citizens are offered at 3.50% to 7.75% p.a. For tenors of five years, Axis Bank Tax Saving FDs offer interest rates of 6.10% p.a. for the general public and 6.85% p.a. for senior citizen depositors. 

 

NRIs also have a variety of Axis Bank FD options to choose from, including NRO, NRE, RFC, and FCNR (B) fixed deposits. British Pound Sterling, US Dollar, Euro, Canadian Dollar, Japanese Yen, and Australian Dollar are all acceptable currencies for Axis Bank's FCNR (B) fixed deposits. RFC fixed deposits are accepted by the bank in GBP, USD, Euro, CAD, and AUD.

Tenor

Axis Bank Non-Senior Citizen FD Interest Rates

Axis Bank Senior Citizen FD Interest Rates

7 days to 14 days

3.50%

3.50%

15 days to 29 days

3.50%

3.50%

30 days to 45 days

3.50%

3.50%

46 days to 60 days

4.00%

4.00%

61 days to less than 3 months

4.50%

4.50%

3 months to less than 4 months

4.50%

4.50%

4 months to less than 5 months

4.50%

4.50%

5 months to less than 6 months

4.50%

4.50%

6 months to less than 7 months

5.75%

6.00%

7 months to less than 8 months

5.75%

6.00%

8 months to less than 9 months

5.75%

6.00%

9 months to less than 10 months

6.00%

6.25%

10 months to less than 11 months

6.00%

6.25%

11 months to less than 11 months 25 days

6.00%

6.25%

11 months 25 days to less than 1 year

6.00%

6.25%

1 year to less than 1 year 5 days

6.75%

7.50%

1 year 5 days to less than 1 year 11 days

6.75%

7.50%

1 year 11 days to less than 1 year 25 days

6.75%

7.50%

1 year 25 days to less than 13 months

6.75%

7.50%

13 months to less than 14 months

6.75%

7.50%

14 months to less than 15 months

6.75%

7.50%

15 months to less than 16 months

6.75%

7.50%

16 months to less than 17 months

6.75%

7.50%

17 months to less than 18 months

6.75%

7.50%

18 months to less than 2 years

6.75%

7.50%

2 years to less than 30 months

7.00%

7.75%

30 months to less than 3 years

7.00%

7.75%

3 years to less than 5 years

7.00%

7.75%

5 years to 10 years

7.00%

7.75%

Note: The above interest rates are with effect from December 15, 2022 on domestic deposits of less than ₹2 Crores 

Axis Bank Fixed Deposit Calculator

You can use an Axis Bank FD calculator to figure out how much interest you can receive by making an investment in a fixed deposit for a set period of time. The maturity amount is calculated with the help of an online Axis Bank fixed deposit calculator  using compound interest calculated on a monthly, quarterly, half-yearly, or annual basis.

Deposit Amount
Tenure
Months
Interest Rate
%
Interest Payout
Your Total Maturity Amount is
Your Total Maturity Amount is
Total Investment
Total Interest Earned

Features & Benefits of Axis Bank Fixed Deposit

There are enticing Axis Bank FD rates that are available for you to choose from. If you choose to open the FD through internet banking or via the mobile app, the initial deposit must be ₹5,000. If you choose to open the FD in person, you must make a deposit of ₹10,000. Opening an Axis Bank fixed deposit account online is a simple process. The FD can work for tenors ranging from seven days to ten years. Now, take a look at the features and benefits that come with an Axis Bank fixed deposit in detail: 

 

  • Flexible tenors: You can choose from variable tenors of as little as 7 days to as long as 10 years with an Axis Bank fixed deposit. The Axis Bank FD interest rates that apply to you will vary based on the tenor of your choosing.

  • Minimal deposit amount: The minimum investment required to start an Axis bank online FD is merely ₹10,000.

  • Simple and Hassle-free FD Account Opening Procedure: The Internet Banking platform or any of the nearby bank locations are both easy ways to open an Axis bank FD account.

  • Payment of Interest:  You have the option to select whether you want to receive interest on your fixed deposit on a monthly, quarterly, semi-annual, or annual basis when you open your FD account.

  • Quick and Simple Return Estimation: Using the Axis Bank FD calculator, you can figure out how much of a return you're likely to obtain well before you invest your money.

Axis Bank FD Interest Rates for Senior Citizens and Others for up to 5 Years

Interest rates are higher for senior citizens. The interest rate for a deposit up to ₹2 Crores ranges between 3.50% to 7.75% per annum. They are allowed to invest for up to ten years, with a minimum of seven days. The table below provides the details on Axis Bank senior citizen FD rates on an investment of ₹1,00,000:

Tenor

Non-Senior Citizen

Senior Citizen

Interest Rate

Aggregate Interest Amount

Maturity Amount

Interest Rate

Aggregate Interest Amount

Maturity Amount

1 year

6.75%

₹6,963

₹1,06,963

7.50%

₹7,763

₹1,07,763

2 years

7.00%

₹14,981

₹1,14,981

7.75%

₹16,708

₹1,16,708

3 years

7.00%

₹23,292

₹1,23,292

7.75%

₹26,081

₹1,26,081

4 years

7.00%

₹32,205

₹1,32,205

7.75%

₹36,207

₹1,36,207

5 years

7.00%

₹41,762

₹1,41,762

7.75%

₹47,146

₹147,146

How to Open FD in Axis Bank

Axis Bank FDs are simple to open online and require little paperwork. The form can also be physically filled out and signed in person at the branch or using the mobile banking app. Utilising the login for net banking is the easiest option. The steps to do this are as follows:

 

  • Step 1: Access the Net Banking portal of Axis Bank.

  • Step 2: Then select "Create Fixed Deposit."

  • Step 3: Select the FD type and complete the other fields.

  • Step 4: Choose the account from which the money will be deducted.

  • Step 5: Select "Submit"

  • Step 6: You will be scheduled for your Axis Bank FD.

 

However, if you are not comfortable with the online method, you can also follow these steps to book an Axis Bank FD offline:

 

  • Step 1: Visit the nearest Axis Bank branch.

  • Step 2: Fill out the application form for the required Axis Bank FD.

  • Step 3: Submit the form along with the required documents.

  • Step 4: You will receive your FD receipt once your application is processed.

Eligibility Criteria & Documents Required for Opening FD in Axis Bank

1. Eligibility Criteria

The following are the individuals and entities who are eligible for opening an Axis Bank fixed deposit account:

 

  • Limited Companies

  • Trust Accounts

  • Partnership Firms

  • Hindu Undivided Families

  • Sole Proprietorship Firms

  • Residents

2. Documents required

The following is a list of the paperwork that must be presented to start an Axis Bank fixed deposit account:

 

  • Duly filled FD application form

  • Identity proof  (Aadhaar Card, PAN Card, utility bills, Voter’s ID, passport, driver’s licence)

  • Address proof (Aadhaar Card, PAN Card, utility bills, Voter’s ID, passport, driver’s licence)

  • Passport-size photos of the applicant

  • Copies of your PAN Card

  • Any additional documents needed for HUFs, associations, trusts, companies, partnership firms, and registered societies. 

How Does Axis Bank Fixed Deposit Calculator Help? 

Axis Bank, like every other bank in the Indian financial sector, provides a variety of Fixed Deposit avenues to accommodate customer preferences. These many possibilities frequently cause investors to be uncertain about which product to select. It is crucial to realise that the Axis Bank fixed deposit interest rate depends on the tenor of the deposit, which is a critical determining element. As a general rule, the interest rates increase with the duration of the deposit.

 

The platform to determine the applied rate and the maturity amount is provided by the Axis Bank fixed deposit calculator. The investor can make an informed decision using this information solely as a guide. Additionally, based on the time period selected and the individual's life objectives, it provides a clear picture of the size of the corpus on maturity. Understanding that the interest rate is only displayed in the Axis Bank FD Calculator for investments under ₹2 Crore is crucial. 

How to Use the Axis Bank Fixed Deposit Calculator? 

Follow the steps given below to use the Axis Bank Fixed Deposit Calculator:

 

  • Step 1: Input the principal amount. It is the amount of money you owe at a given point in time. 

  • Step 2: Select the investment tenor. The term involved in deposit investments, which are typically provided by the bank, is called the tenor. Higher tenor FDs have higher rates, whereas lower tenor FDs have lower rates. Invest in the highest tenor available if you want to maximise your earnings and do not anticipate having any imminent financial needs.

  • Step 3: Select your investor category - mention whether you are a general citizen or a senior citizen.

  • Step 4: Click on the calculate button to get the outcome displayed. The Axis Bank FD calculator will show the fixed deposit's maturity amount.

How is Axis Bank FD Maturity Amount Calculated?

The returns and maturity amount in an Axis Bank fixed deposit are calculated using the concept of compounded interest. For this computation, the general formula is:

 

M = P + P {(1 + i/100) t - 1}

 

Where,

 

  • P represents the principal sum.

  • i is the interest rate per period.

  • The tenor is t.

 

As an alternative, you can calculate your maturity amount using the Axis Bank FD Calculator.

The Bottom Line

With this, you should have a solid understanding of the current Axis Bank FD interest rates as well as the advantages of making an investment in an Axis Bank FD. In light of this, consult an Axis Bank FD calculator before opening a fixed deposit account with the bank. By calculating the returns on your investment, you may use this to plan your investments better.

 

Latest Axis Bank FD News

Axis Bank hikes interest rates up to 7.75% p.a. on FDs

Axis Bank has reportedly hiked the interest rates on fixed deposits on amounts up to Rs. 2 crore across tenors for non-senior and senior citizens. As per the bank’s official website, the revised Axis Bank FD rates will be effective from December 27, 2022. While the rate of interest for non-senior citizens ranges from 3.50% to 7% p.a. on tenors ranging from 7 days to 10 years, the interest rates on FDs for senior citizens range from 3.50% to 7.75% p.a. Non-senior citizens can now get up to 7% p.a. for deposits with maturity periods ranging from 2-10 years. 

 

- Dec 29, 2022

FAQs

  • ✔️Can I prematurely withdraw the amount invested in an Axis Bank FD?

    Premature withdrawal is a feature of Axis Bank FDs, and it is possible at any time with the payment of a minor penalty. If the FD is prematurely ended after 15 months for sums under ₹2 Crores, no penalty would be assessed.

  • ✔️What is the Axis Bank FD extension process?

    You can easily extend the investment time of an Axis Bank FD by submitting an application at the closest branch office or via the online account.

  • ✔️Can I get a loan against my Axis Bank FD?

    You are able to borrow up to 85% of the FD's maturity value from Axis Bank.

  • ✔️What are the common types of forms for an Axis Bank FD Account?

    You can easily open an Axis Bank fixed deposit account online or by visiting any of the bank's branches and submitting the application in person.

  • ✔️Is there an Axis Bank fixed deposit for tax exemption?

    Axis Bank's 5-year tax-saving FD enables you to reduce your tax liability in accordance with Section 80C of the Income Tax Act.

  • ✔️Is TDS deducted on Axis Bank FD?

    According to the Income Tax Act, TDS must be subtracted from returns on FDs that earn more than ₹40,000 annually.

  • ✔️Is there any nomination facility under Axis Bank FD?

    Nominees can be added quickly and easily online using the Axis Bank branch, mobile app, or net banking.

  • ✔️Can I get a credit card if I have an Axis Bank FD?

    You can get FD-backed credit cards from Axis Bank with a credit limit that is between 70 and 75 percent of the value of your FD when it matures.

  • ✔️What are different tenor options available for Axis Bank FD?

    The tenor options available for Axis Bank FD range between 6 months to 5 years.

  • ✔️What is the minimum amount required to open an Axis Bank Fixed Deposit?

    The minimum deposit amount required to open an Axis Bank FD account is ₹5000.

  • ✔️What is the highest FD interest rate of Axis Bank?

    Axis Bank currently offers FDs with interest rates as high as 7.00% for general citizens and 7.75% for senior citizens for tenors of two to three years.

  • ✔️Is there an FD auto-renewal option with Axis Bank?

    In the event that there are no instructions from the customer, a fixed deposit is renewed automatically for the same duration and interest rate.