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Axis Bank provides multiple Fixed Deposit options to its customers to secure a certain part of their savings for a fixed tenure. The competitive Axis Bank Fixed Deposit interest rates help the depositors to earn more returns by safeguarding their money and to use them judiciously in the future. Customers have to deposit the minimum deposit amount at the time of opening the account. Furthermore, withdrawal of the FD amount is not allowed until the maturity period.

 Axis Bank FD Rates 2020

TenureFD Rates for General CitizensFD Rates for Senior Citizens
7 days – 14 days3.50%3.50%
15 days – 29 days4.25%4.25%
30 days – 45 days4.90%4.90%
46 days – 60 days5.40%5.40%
61 days – 3 months5.40%5.40%
90 days – 119 days5.40%5.40%
4 months – 5 months5.40%5.40%
5 months – 6 months5.40%5.40%
6 months – 8 months 29 days5.80%6.05%
9 months – 11 months 25 days6.05%6.30%
11 months 25 days – 1 year6.40%6.65%
13 months – 17 months 29 days6.40%7.05%
18 months – 2 years6.50%7.15%
30 months – 3 years6.50%7.00%
1 year – 1 year 5 days6.40%7.05%
1 year 5 days – 1 year 11 days6.40%7.05%
1 year 11 days – 1 year 25 days6.40%7.05%
1 year 25 days – 12 months 29 days6.40%7.05%
2 years – 30 months6.50%7.15%
3 years – 4 years 364 days6.50%7.00%
5 years – 10 years6.50%7.00%

Axis Bank Fixed Deposit Rates – Special Features

  • Axis Bank FD tenure ranges from 7 days to 10 years
  • Senior citizens can avail 0.50% extra interest rate over regular rates
  • Nomination facility is provided by the bank
  • The minimum deposit amount required to book an FD with Axis Bank is Rs. 10,000 if opened by visiting the branch and Rs. 5000 if opened through net banking or mobile app
  • Avail competitive interest rates on short-term deposits with an Axis Bank FD account
  • One can book an FD account in a hassle-free way with Axis Bank
  • Loans up to 85% can be availed against your Axis Bank Fixed Deposits
  • Axis Bank offers a wide range of fixed deposits to choose from

Types of Axis Bank Fixed Deposit Schemes

Axis Bank Regular Fixed Deposit

  • Depositors can invest the minimum deposit amount and earn attractive interest rates along with flexibility and security
  • Hassle-free account opening process
  • Nomination facility is provided by the bank
  • Substantial returns on shorter tenures also
  • Automatic rollover facility on principal and interest both

Eligibility

Resident Indians, Hindu Undivided Family, and sole proprietorship firms

Axis Bank Tax Saver Fixed Deposit

  • As the name implies, under this scheme, the depositor can avail tax benefits on deposit under Section 80C of Income Tax Act, 1961
  • The bank provides the flexibility to choose between single holder type deposits and joint holder type deposits. The rate of interest depends on the category in which the applicant fall
  • Nomination facility is provided by the bank
  • Tax benefits can be claimed with a fixed deposit receipt issued by the bank

Eligibility

Resident Indians and HUFs

Fixed Deposit Plus by Axis Bank

  • Customers can earn a higher interest rate under this scheme as compared to regular term deposits
  • Nomination facility is provided by the bank
  • The minimum deposit amount is Rs. 5,00,00,000
  • Interest earned is subject to TDS (Tax Deducted at Source)
  • Depositors can choose the method of interest calculation, wiz, simple interest and compound interest options.

Eligibility

Resident Indians, Hindu Undivided Family sole proprietorship firms, proprietorship firms, partnership firms, limited companies, and trust.

Encash 24 Flexi Deposit

  • Under this scheme, dual benefits are offered viz. Liquidity of a savings account and high earnings of a fixed deposit.
  • Auto-renewal facility is available on the deposit
  • Enjoy Tax Benefits on deposit under Section 80C of Income Tax Act, 1961
  • Maximum liquidity on investment
  • Great returns with a shorter tenure
  • The FD account is linked to existing savings account
  • Maximum tenure is 5 years and the minimum is 6 months

Eligibility

Savings account holders with valid PAN card

Axis Bank Fixed Deposit Term wise Interest Rates

Depending on the tenures, Axis Bank FDs are further categorized as short-term, medium-term, and long-term deposits.

Short-term Deposits: For an Axis Bank FD with tenure ranging from 7 days to 12 months, the interest rate offered is from 3.50% p.a. to 6.40% p.a. These deposits are known as short term deposits as their tenure is less than 1 year.

Medium-term Deposits: Medium-term fixed deposits have their tenures ranging from more than 1 year to less than 5 years. The interest offered by the bank on these deposits is around 6.40% – 6.50% p.a.

Long-term Deposits: These deposits have their tenure ranging from 5 years to 10 years and offer an interest rate of 6.50%.

Premature withdrawal in Axis Bank Fixed Deposit

If a depositor wishes to withdraw the FD amount before the maturity period, it is called as premature withdrawal. Axis Bank allows premature withdrawal with nominal penalty charges; it offers a 1% lesser interest rate than the contracted rate of interest.

Axis Bank FD Calculator

Calculating the maturity amount provides clarity, especially if you have some financial goals set for yourself. You can calculate the same by using the Axis Bank FD calculator available over the internet. You just have to fill in some basic details such as the tenure, deposit amount and rate of interest.

Axis Bank FD Rates Amidst Coronavirus

Due to the repo rate cut by RBI by 75 bps during coronavirus lockdown, Axis Bank may reduce the FD interest rates in the coming days. This can affect the interest of fixed depositors adversely.

Axis Bank Fixed Deposit Interest Rates 2020 – FAQs

What are the tenure options available for Axis Bank FD?

Axis Bank provides FD with tenures ranging from 7 days to 10 years. You can choose any one among them.

What is the minimum deposit amount needed to open an FD account with Axis Bank?

The minimum deposit amount is Rs. 10000 if opened by visiting any Axis Bank branch and Rs. 5000, if opened through net banking or app.

Is the interest earned on Axis Bank FD taxable?

Yes, the Axis Bank FD interest earned is taxable under the Income Tax Act, 1961. TDS is deducted by the bank at the rate of 10% if PAN is provided and 20%, if not.

Can I add an additional amount to my Axis Bank FD account?

No, you can only add money at the time of opening the account.

What are the documents needed to start an FD account with Axis Bank?

You need to provide 2 photographs, a driving license or passport to open an Axis Bank FD account.

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