Axis Bank offers fixed deposits that can be easily opened online as well. Flexible repayment tenures range from 7 days to 10 years.
Minimum investment of Rs.5,000 for online bookings with no upper limit. Senior citizens are given higher interest rates than the general public for tenures starting from 6 months.
Axis Bank FD Rates 2020
| Tenure | FD Rates for General Citizens | FD Rates for Senior Citizens |
| 7 days to 14 days | 2.50% | 2.50% |
| 15 days to 29 days | 2.50% | 2.50% |
| 30 days to 45 days | 2.50% | 2.50% |
| 46 days to 60 days | 2.50% | 2.50% |
| 61 days to 3 months | 2.75% | 2.75% |
| 90 days to 119 days | 3.50% | 3.50% |
| 4 months to 5 months | 3.50% | 3.50% |
| 5 months to 6 months | 3.50% | 3.50% |
| 6 months to 8 months 29 days | 4.40% | 4.65% |
| 9 months to 11 months 25 days | 4.40% | 4.65% |
| 11 months 25 days to 1 year | 5.15% | 5.40% |
| 13 months to 17 months 29 days | 5.10% | 5.75% |
| 18 months to 2 years | 5.25% | 5.90% |
| 30 months 1 day to 3 years | 5.40% | 5.90% |
| 1 year to 1 year 5 days | 5.15% | 5.80% |
| 1 year 5 days to 1 year 11 days | 5.10% | 5.75% |
| 1 year 11 days to 1 year 25 days | 5.10% | 5.75% |
| 1 year 25 days to 12 months 29 days | 5.10% | 5.75% |
| 2 years to 30 months | 5.40% | 6.05% |
| 3 years to 4 years 364 days | 5.40% | 5.90% |
| 5 years to 10 years | 5.50% | 6.00% |
Benefits & Features of Axis Bank Fixed Deposit:
- Automatic roll-over on maturity that is applicable for both the principal amount and interest.
- Minimum period of investment is 7 days.
- Minimum investment is Rs.5,000 for online bookings.
- Minimum investment is Rs.10,000 if booked at a bank branch.
- NRE Fixed Deposit and NRO Fixed Deposits for NRIs.
- NRE and NRO fixed deposit interest rate ranges from 5.15% to 5.50% p.a. for deposits less than Rs.2 crore.
- Hassle-free and convenient opening process from anywhere.
- Smooth transfer of funds from your savings account to higher interest producing fixed deposits.
- Flexibility in choosing your branch and deciding the tenure and maturity date of your FDs.
- Open your FD account at any Axis Bank branch.
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
Axis Bank FD for Senior Citizens:
Senior citizens get higher interest rates. For a deposit of up to Rs.2 crore, the interest rate ranges from 2.50% to 6.00% p.a. They can invest for a minimum period of 7 days to a maximum period of 10 years.
Axis Bank Fixed Deposit FAQs
What is the Minimum/Maximum amount required to open an FD account with Axis Bank?
The minimum amount required to open an FD account is ₹ 10,000 if opened from a bank branch but Rs.5,000 if opened online. However, the bank accepts deposits up to Rs.100 crores and above.
What is the Minimum/Maximum deposit tenures of Axis Bank FDs?
You can open an FD account with Axis Bank for a minimum period of 7 days, and a maximum period of 10 years.
Does Axis Bank Charge for Premature Withdrawal of FDs?
The bank charges a nominal amount of 1% as premature withdrawal charge for its normal fixed deposits. However, NRE term deposits are exempted from the penalty fee.
Does Axis Bank allow joint fixed Deposit account?
Yes, the bank has the provision for opening an FD account jointly. Joint FD accounts can be opened with a maximum of three applicants.
Does Axis Bank provide Tax Saver FDs?
Yes, Axis Bank provides tax saver Fixed Deposits to HUFs and Indian residents. Under its tax saver FDs, the bank provides “Single holder Type Deposits” and “Joint holder Type Deposits”. In case of normal fixed deposit plans, tax is deducted at source as per the regulations of the Income Tax Act, Government of India.
Does Axis Bank allow pre-closure of fixed deposit accounts?
Yes, the bank allows you to pre-close your fixed deposit account. However, it is subject to the terms and conditions specified by the bank from time to time.
How is my interest on fixed deposits calculated at Axis Bank?
Axis Bank calculates and pays interest on simple interest basis for a deposit opened for less than 6 months. But for fixed deposits of 6 months and above, the bank will calculate interest on a quarterly basis.
Is having a savings bank account mandatory to open a fixed deposit account with Axis Bank?
No. It is not mandatory to have a savings bank account to open a fixed deposit account with Axis bank. Prior to the FD maturity date, the bank will seek permission for its rollover, or transfer the funds to another bank account specified by the customer.
How to withdraw funds in a fixed deposit from Axis Bank?
Axis Bank allows withdrawal and encashment of fixed deposits only in the particular branch where the deposit was opened initially. So, you need to contact the branch for its withdrawal.
Does Axis Bank Charge for Premature Withdrawal of FDs?
The bank charges a nominal amount of 1% as premature withdrawal charge for its normal fixed deposits. However, NRE term deposits are exempted from the penalty fee.
