Cash lying idle in your bank account?
Invest as low as Rs. 1,000 in Mutual Funds and enjoy higher returns.
  • Loading your search...
    Close

    Tell us about yourself & we'll find the best Fixed Deposit offers for you.

  • Fixed Deposit BYTES FROM OUR KITCHEN

    Axis Bank NRO Fixed Deposit: Rates & Features

    A Non-Resident Ordinary (NRO) account is a type deposit in which Non-Resident Indians (NRIs) can invest money in rupee denomination. The Axis Bank NRO fixed deposit is specially designed for NRIs and comes with automatic renewal, repatriable interest, great tenure options and partial withdrawal facility. It is important for prospective investors to know that the interest that is earned from such an investment is subject to tax.

    Given below are the revised interest rates paid on Axis Bank NRO fixed deposits with effect from June 1, 2018:

    Tenure Interest Rate (less than Rs.1 crore) Interest Rate (Rs.1 crore to less than Rs.5 crore)
    7 days to 29 days 3.50% 5.50%
    30 days to 45 days 5.50% 6.00%
    46 days to 60 days 6.00% 6.30%
    61 days to less than 3 months 6.00% 6.50%
    3 months to less than 6 months 6.00% 6.75%
    6 months to less than 9 months 6.25% 6.90%
    9 months to less than 1 year 6.50% 6.90%
    1 year to less than 1 year 5 days 7.10% 7.30%
    1 year 5 days to less than 1 year 11 days 7.40% 7.60%
    1 year 11 days to less than 14 months 7.10% 7.30%
    14 months to less than 3 years 7.00% 7.25%
    3 years to 10 years 7.00% 7.00%

    Axis Bank NRO FD interest rates (below Rs.1 crore)

    • The interest rate offered ranges from 3.50% p.a. to 7.40% p.a.
    • The highest rate that is paid is 7.40% p.a. for holding an investment from 1 year 5 days to less than 1 year 11 days
    • An interest rate of 7.00% p.a. is paid for 14 months to less than 3 years, and 6.25% p.a. from 6 months to less than 9 months

    Axis Bank NRO FD interest rates (Rs.1 crore to Rs.5 crore)

    • The rate of interest offered begins from 5.50% p.a. to 7.60% p.a.
    • For 11 months to less than 1 year, the rate applicable is 6.90% p.a., and for 14 months to less than 3 years, the rate paid is 7.25% p.a.
    • A customer can get 7.60% p.a. for going for an NRO FD from  1 year 5 days to less than 1 year 11 days

    Axis Bank NRO FD: Features and Benefits

    • Attractive interest rates: NRO term deposits offer NRIs an ideal platform to save money in their home country. The interest rates offered are good and will fetch high returns over a period of time.
    • Repatriable interest: The interest that is paid to the investor is completely repatriable in all NRO FDs. The upper cap for the repatriability is USD 1 million for a financial year.
    • Automatic renewal: The automatic renewal feature comes as a boon to NRIs, who are not able to be physically present at a particular point of time. Once the deposit reaches maturity, it will be automatically renewed without any hassle.
    • Easy to operate: The Axis Bank NRO term deposit is an easy-to-open and easy-to-operate account. This is a big advantage to NRIs as it also comes with online banking facilities. Account holders will be able to open or close a time deposit at any point of time. So, it is very easy to apply for an Axis Bank NRO fixed deposit.
    Loan/overdraft Premature withdrawal Partial withdrawal Flexible tenure
    A loan or an overdraft can be taken against the investment at any point of time In case of any urgent need, fund can be withdrawn It also possible to go for a partial withdrawal A range of tenure options available

    Axis Bank NRO FD: Eligibility criteria

    Who can open? Documents required
    • NRIs
    • Person of Indian origin (PIO)
    • Passport
    • Valid visa
    • Employment papers
    • Valid documents to prove NRI status

    FAQS on Axis Bank NRO FD

    1. Is nomination facility available in NRO FD?

    Yes.

    2. Can loan be taken for any purpose on my FD?

    Loan can be taken for all purposes except for:

    • Real estate investments
    • Relending
    • Agriculture-related activities

    3. What is the tax liability in such a type of investment?

    Tax Deducted at Source (TDS) will be applicable at the rate of 30.90%.

    4. Can those who are not NRIs open this account?

    No. This is specially for NRIs.

    5. Is joint account facility available?

    Yes.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.