About Axis Bank
Axis Bank is one of the top 3 largest private banks in India with 5100+ domestic branches and 15,000+ ATMs & cash recyclers nationwide. The headquarters of the bank is located in Mumbai, Maharashtra Indian state. Axis Bank offers a wide range of financial & banking services which cover mid and large corporates, MSMEs, and retail businesses.
Axis Bank is the first new-generation bank in the private sector it was started in 1993 and began operation in 1994. Axis Bank offers different types of fixed deposits that individual can invest as per their choice. Axis Bank offers competitive interest rates on fixed deposits so that depositors can earn good interest on their investments.
| Started on | 1993 | Head Quarter | Mumbai |
| CEO | Amitabh Chaudhary | CRISIL Ratings | FAAA |
| ICRA Ratings | MAAA | FD Interest General | 3% to 7.20% p.a. |
Axis Bank FD Rates 2024 (Less than ₹ 3 Cr) – Effective 19 June 2024
| Maturity Period | Interest Rates (per cent per annum) | |
| General Public | Senior Citizen | |
| 7 – 14 days | 3.00% | 3.50% |
| 15 – 29 days | 3.00% | 3.50% |
| 30 – 45 days | 3.50% | 4.00% |
| 46 – 60 days | 4.25% | 4.75% |
| 61 days < 3 months | 4.5% | 5.00% |
| 3 months – 3 months 24 days | 4.75% | 5.25% |
| 3 months 25 days < 4 months | 4.75% | 5.25% |
| 4 months < 5 months | 4.75% | 5.25% |
| 5 months < 6 months | 4.75% | 5.25% |
| 6 months < 7 months | 5.75% | 6.25% |
| 7 months < 8 months | 5.75% | 6.25% |
| 8 months < 9 months | 5.75% | 6.25% |
| 9 months < 10 months | 6.00% | 6.50% |
| 10 months < 11 months | 6.00% | 6.50% |
| 11 months – 11 months 24 days | 6.00% | 6.50% |
| 11 months 25 days < 1 year | 6.00% | 6.50% |
| 1 year – 1 year 4 days | 7.00% | 7.50% |
| 1 year 5 days – 1 year 10 days | 7.00% | 7.50% |
| 1 year 11 days – 1 year 24 days | 7.00% | 7.50% |
| 1 year 25 days < 13 months | 7.00% | 7.50% |
| 13 months < 14 months | 7.00% | 7.50% |
| 14 months < 15 months | 7.00% | 7.50% |
| 15 months < 16 months | 7.10% | 7.60% |
| 16 months < 17 months | 7.10% | 7.60% |
| 17 months < 18 months | 7.20% | 7.85% |
| 18 Months < 2 years | 7.10% | 7.60% |
| 2 years < 30 months | 7.10% | 7.60% |
| 30 months < 3 years | 7.10% | 7.60% |
| 3 years < 5 years | 7.10% | 7.60% |
| 5 years to 10 years | 7.005 | 7.75% |
Axis Bank FD Rates 2024 (₹ 3 Cr to Less than ₹ 5 Cr) – Effective 19 June 2024
| Maturity Period | Interest Rates (per cent per annum) | |
| General Public | Senior Citizen | |
| 7 – 14 days | 4.75% | 5.25% |
| 15 – 29 days | 4.75% | 5.25% |
| 30 – 45 days | 5.50% | 6.00% |
| 46 – 60 days | 5.75% | 6.25% |
| 61 days < 3 months | 6.00% | 6.50% |
| 3 months – 3 months 24 days | 6.50% | 7.00% |
| 3 months 25 days < 4 months | 5.15% | 5.65% |
| 4 months < 5 months | 6.50% | 7.00% |
| 5 months < 6 months | 6.50% | 7.00% |
| 6 months < 7 months | 6.75% | 7.25% |
| 7 months < 8 months | 6.75% | 7.25% |
| 8 months < 9 months | 6.75% | 7.25% |
| 9 months < 10 months | 6.85% | 7.35% |
| 10 months < 11 months | 6.85% | 7.35% |
| 11 months – 11 months 24 days | 6.85% | 7.35% |
| 11 months 25 days < 1 year | 6.85% | 7.35% |
| 1 year – 1 year 4 days | 7.40% | 7.90% |
| 1 year 5 days – 1 year 10 days | 7.40% | 7.90% |
| 1 year 11 days – 1 year 24 days | 7.40% | 7.90% |
| 1 year 25 days < 13 months | 7.40% | 7.90% |
| 13 months < 14 months | 7.40% | 7.90% |
| 14 months < 15 months | 7.40% | 7.90% |
| 15 months < 16 months | 7.05% | 7.55% |
| 16 months < 17 months | 7.05% | 7.55% |
| 17 months < 18 months | 7.05% | 7.70% |
| 18 Months < 2 years | 7.05% | 7.55% |
| 2 years < 30 months | 7.00% | 7.50% |
| 30 months < 3 years | 7.00% | 7.50% |
| 3 years < 5 years | 7.00% | 7.50% |
| 5 years to 10 years | 7.00% | 7.75% |
Features and Benefits of Axis Bank Fixed Deposit
| #1. Attractive interest rates on fixed deposit #2. Maturity period 7 days to 10 years #3. The minimum deposit amount is ₹5,000 using Internet banking and ₹10,000 via Axis Bank branch #4. Axis Bank offer higher interest rates on fixed deposits for senior citizens #5. Different types of fixed deposits available with flexible maturity periods & flexible interest rates #6. Widthdrwal investment money easily in case of emergency #7. Loan against fixed deposit available |
Types of Axis Bank FD Schemes
Regular Fixed Deposit
| 1. Regular Fixed Deposit offered by Axis Bank has flexible tenure periods from 7 days to 10 years. 2. Invest for a fixed period and earn a fixed rate of interest for that tenure 3. Avail secure returns on fixed deposits in India |
Digital Fixed Deposit
| 1. Open Axis Bank digital fixed deposit account with KYC and no documentation required 2. Axis Bank Digital fixed deposit account is fully digital and can be created within 7 minutes using video KYC verification 3. You can open a digital fixed deposit with any bank’s savings account |
Tax-Saver Fixed Deposit
| 1. As the name suggests tax-saver fixed deposit, you can save tax and earn interest rates 2. Tax benefit of up to ₹1.5 Lakh under section 80C of Income Tax Act 3. There is 5 years of lock-in period application on the principal amount |
Fixed Deposit Plus
| 1. Get higher interest rates on the Axis Bank fixed deposit plus compared to regular fixed deposit 2. The minimum investment is ₹2 crore in Axis Bank fixed deposit plus scheme 3. You have the option to choose from simple interest and compound interest rates |
Auto Fixed Deposit
| 1. Axis Bank auto fixed deposit offers the facility to link savings accounts and earn higher interest rates and benefits of savings account 2. The specified amount is automatically transferred to a fixed deposit as per the instruction 3. Use money via fixed deposit and ATMs |
How to Choose the Right Axis Bank Fixed Deposit?
If you want to maximize the fixed deposit returns then you should keep the following pointers in mind while choosing the best Axis Bank fixed deposit.
| 1. Compare the interest rates of different fixed deposit schemes and choose one with the highest FD interest rate 2. Firstly make your financial goal and match the fixed deposit maturity to your financial goal period 3. You must check for the premature withdrawal of funds and any penalty plus time to withdraw funds from FD scheme 4. Also, check for the account opening facility online available because the online medium is easy and less time-consuming |
Eligibility to Open an Axis Bank FD Account
Axis Bank has specified some eligibility criteria to invest in fixed deposits in India. To invest in a fixed deposit you should meet the following criteria.
| 1. Residents 2. Hindu Undivided Families 3. Hindu Undivided Families 4. Partnership Firms 5. Limited Companies 6. Trust Accounts |
How to Apply for the Axis Bank Fixed Deposit in India
If you want to apply to Axis Bank’s fixed deposit scheme, you can invest in Axis Bank FD via Internet banking, mobile banking and visiting your nearest Axis Bank branch.
Internet Banking
Here are the steps Axis Bank customers need to follow to open a fixed deposit account
Step 1: Log in to Axis Bank internet banking and go to deposit options
Step 2: Cilic on ‘create fixed deposit’
Step 3: Now, fill in the all necessary information and follow the on-screen instructions
Step 4: Once the amount is debited from the savings account the fixed deposit will be created instantly and you will get the receipt for the same.
Step 5: Now, that your fixed deposit is created, you will get an email from the bank that contains the required information of your fixed deposit.
Mobile Banking
Here is the following procedure to create a fixed deposit using mobile banking
Step 1: Log in to Axis Bank mobile banking with your credentials
Step 2: Select Open FD options
Step 3: Now, fill in the necessary information to process your fixed deposit investment
Step 4: Once, the bank receives an amount from you the fixed deposit will be created immediately
Step 5: After the successful opening of the fixed deposit you will receive an email containing the necessary information of fixed deposit investment.
Bank Branch
If you wish to open a fixed deposit account via Axis Bank branch you need to visit your nearest Axis Bank branch provide the necessary information and submit the filled form to a bank employee. Now, the bank will start the process of opening a fixed deposit and you will get the confirmation email.
Tax on Axis Bank Fixed Deposit
Tax Impact on Axis Bank fixed deposit.
| 1. Investment in Axis Bank fixed deposit up to ₹1.5 Lakh exempted from income tax under section 80C 2. All the interest earned on the fixed deposit is added to your income and taxed as per your income tax slab 3. TDS on fixed deposit interest is 10% with a PAN card and 20% if a PAN card is not provided 4. No TDS on income from fixed deposit interest up to ₹40,000 and for senior citizens it is ₹50,000 5. If you have a total income of ₹2.5 Lakh, your income is not taxable as per income tax, you can submit Form 15G to the bank and avoid TDS 6. Also, the senior citizen can submit Form 15G to the bank if their total income is not taxable and get relief from TDS |
FAQs
Q. Documents Required to Open Axis Bank FD Account
Axis Bank required documents as per the latest KYC requirement. You can visit the official website or Axis Bank branch to know the details.
Q. Is a Loan Against Axis Bank FD available?
Yes, Axis Bank offer loans against a fixed deposit scheme. You can get loans at the lower interest rates.
Q. Is Premature Closure of Axis Bank Fixed Deposit Allowed?
Yes, you can withdraw your funds from the Axis Bank fixed deposit. Axis Bank may put some penalty on premature withdrawal of fixed deposits.