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    Axis Bank Encash 24 Flexi Deposits

    Axis Bank Encash 24 Flexi Deposits  and 2 other FDs

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    3.5% - 7.6% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6.75% - 7.1% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know

    Axis Bank Encash 24 Flexi Deposits is Rated as "Excellent!" by 85 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    Saving up money with the intention of putting it in a fixed deposit can, at times, become a tedious task for the simple reason that every time you build up savings, something happens and all the money gets spent. But with the Encash 24 Flexi Deposits offered by Axis Bank, the task becomes much easier because it automatically takes money out of the account to create an FD. It even takes care of your financial needs because it fills up your account with money from the FD if it notices the balance going down.

    Eligibility Criteria for the Axis Encash 24 Flexi Deposits

    Like most fixed deposits, this deposit may be available to all individuals, NRIs and even senior citizens.

    Features of Axis Bank Encash 24 Flexi Deposits

    Amount

    Min: The minimum amount that can be invested in such a fixed deposit is Rs. 25,000.

    Max: There is no cap on the maximum amount and can even exceed Rs. 5 crores

    How the scheme works This fixed deposit is created in conjunction with a savings account. When the money in the savings account exceeds Rs. 25,000, the excess money is taken out of the account and put in a fixed deposit where it earns a higher interest rate. These deductions need no instructions from the account holder and happen automatically. The amounts that are deducted are also in multiples of Rs. 5,000.
    Account refill Another facility provided by this account is that of a refill for the savings account. With this facility, every time the account balance falls below Rs. 25,000, money from the FD will be transferred to the account from the FD in multiples of Rs. 5,000.
    Rate of Interest

    Min: Since the minimum duration of these deposits are 6 months, the minimum interest rates will be 7.25% per annum.

    Max: The maximum interest rates that can be earned on these deposits is 7.9% per annum.

    Tenure

    Min: The minimum tenure that this FD can be opened for is 6 months.

    Max: The maximum permissible tenure under this scheme is 5 years.

    TDS The tax on the interest earned through these deposits is calculated by projecting the interest that could be earned based on the size of the deposit. It is then deducted from FD itself.
    Auto renewal The FDs created can be renewed for a period between 6 months and 5 years.

    Interest rates offered by Axis Encash 24 Flexi FD

    The interest rates offered on this fixed deposit are the same as those offered on other term deposits and are:

    Tenure Interest rates (per annum) For up to Rs. 5 crore (as of Dec 2015)
    6 months to 9 months 7.25%
    9 months to less than1 year 7.5%
    1 year to less than 2 years 7.9%
    2 years to less than 5 years 7.75%
    5 years 7.5%

    The interest rates can depend on the amount that is deposited in the FD too since FD that are in excess of Rs. 5 crore have an interest rate that can be slightly less. It is also worth noting that if you are a senior citizen you are entitled to get 0.5% extra interest over the prescribed rates. Interest rates can be revised by banks from time to time so it is best to confirm the latest interest rates before making any decisions.

    Frequently Asked Questions

    1. How do I ensure that I get the senior citizens interest rates?

      If you wish to avail the senior citizen interest rates then you will have to provide a proof of age to the bank while opening the account.

       
    2. What happens to my interest rates if I have a Rupee Term Deposit?

      If the account is in excess of Rs. 5 crore and was opened, or renewed, after May of 2014 then the interest rates will be 1% lower than the applicable interest rates.

       
    3. Is there a limit for TDS to be deducted?

      Yes, the limit is the same as that for all fixed deposits. If the interest earned in a financial year is more than Rs. 10,000 then the account holder is liable to pay taxes.

       
    4. Is it possible for the tenure of the FD to be extended to 10 years?

      No because the maximum tenure under the scheme is 5 years. You can, however, go in for the reinvestment option and choose a period between 6 months and 5 years.

    Useful Information on Axis Bank Fixed Deposit

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  • Axis Encash 24 Flexi Deposits Reviews

    • Axis Bank Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had invested in fixed deposit account with the Axis bank and the minimum tenure is around five years of time. Response is a good one with them and everything was done through online. Net banking services are working in an excellent way and it is really wonderful.
      Was this review helpful? 1
      , kolkata
      Reviewed on Apr 25, 2017
    • Axis Bank Fixed Deposit
      "Very good services"
      0.5 4.5/5 "Excellent!"
      Opening a fixed deposit at Axis bank was pretty simple and unlike the past where one has to visit the bank to get this facility. I could do it online and it was very much simple as I am an existing customer. I am also happy with the interest rate offered.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Feb 20, 2017
    • Axis Bank Fixed Deposit
      "Truly the best"
      0.5 3.5/5 "Pretty good"
      AXIS Fixed deposit is truly the best, I am not happy with the communication the customer service can actually improve and the bank is not good. It would be great if they send alerts in terms of letting the customer know the FD is going to mature and whether it is good or not and how much amount I will get in turn.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Feb 10, 2017
    • Axis Bank Fixed Deposit
      "Truly the best"
      0.5 3.5/5 "Pretty good"
      AXIS Fixed deposit is truly the best, I am not happy with the communication the customer service can actually improve and the bank is not good. It would be great if they send alerts in terms of letting the customer know the FD is going to mature and whether it is good or not and how much amount I will get in turn.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Feb 10, 2017
    • Axis Bank Fixed Deposit
      "Convenient to Open"
      0.5 4.0/5 "Great!"
      There was no processing fee for FD opening through online, AXIS FD was really convenient to save the money, I could pay from 5000 or above its for three years. Without visiting to the branch I had opened my FD account through online it was really hassle free.
      Was this review helpful? 4
      , ghaziabad
      Reviewed on Nov 23, 2016
    • Axis Bank Fixed Deposit
      "Better"
      0.5 5.0/5 "Blown Away!"
      I have the fixed deposit account with the Axis bank and the interest rate was very low. Customer service is very good with the Axis bank and I have not found any drawbacks with them. I used to transact a lot with them. Interest rate will be compounded annually.
      Was this review helpful? 11
      , thane
      Reviewed on Apr 27, 2016
    • Axis Bank Fixed Deposit
      "Best "
      0.5 4.0/5 "Great!"
      I have got the fixed deposit with the Axis bank and I have opened this account before some long time. Response with the Axis bank is good and the online banking services are good. The interest got compounded annually with the Axis bank and I have opted for five years deposit.
      Was this review helpful? 3
      , coimbatore
      Reviewed on Apr 26, 2016
    • Axis Bank Fixed Deposit
      "Excellent !!!!"
      0.5 5.0/5 "Blown Away!"
      For the fixed deposit axis bank is giving 7% interest rate . If the lock in period is above 45 days they give 8% and for above 180 days they give 9% interest rate. Minimum amount to deposit is Rs.25,000. There is no penalty if we withdraw the amount in between the lock in period.
      Was this review helpful? 13
      , bharuch
      Reviewed on Mar 31, 2016
    • Axis Bank Fixed Deposit
      "Banking"
      0.5 5.0/5 "Blown Away!"
      First of all I want to thank the entire team of bank bazaar for providing such a wonderful and amazing platform for all of us to select which suits us best from the rest. I selected Axis Bank which provided a good interest rate and it got through properly and quickly. Thank you once again..
      Was this review helpful? 14
      , kolkata
      Reviewed on Mar 08, 2016
    • Axis Bank Fixed Deposit
      "Our bank..."
      0.5 5.0/5 "Blown Away!"
      My salary come to this account so I started depositing with the Axis bank. Just my money will be safe and if any emergency comes I can withdraw or break the fixed deposit. The penalty is about one percentage. Whatever the rate of interest from that they deduct one percent. If the interest rate is 8% they give 7% incase of partial drop.
      Was this review helpful? 4
      , lucknow
      Reviewed on Mar 01, 2016
    • Axis Bank Fixed Deposit
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a fixed deposit a couple of times from Axis Bank. The services are good. I can do it online. And I can also cancel it online. The rate of interest is good. But it has been fluctuating as per the RBI rules. There are no charges for any of the online facilities.
      Was this review helpful? 16
      , hyderabad
      Reviewed on Feb 06, 2016
    • Axis Bank Fixed Deposit
      "Wonderful..."
      0.5 4.0/5 "Great!"
      Axis bank is great and in regards to fixed deposit rate of interest they are constant to the market. Private banks are more comfortable and very good than the public bank. Almost ten years I am using their services and using it for fixed deposit.
      Was this review helpful? 9
      , hyderabad
      Reviewed on Jan 29, 2016
    • Axis Bank Fixed Deposit
      "Easy to start a plan!"
      0.5 5.0/5 "Blown Away!"
      Initailly I was planning to open the fixed deposit through online banking. Later on I decided to open that account on reaching the Axis branch. I just filled a form to open the account. The amount deposited is 50K and the tenure is of 6 months with the interest rate of 7.50%.
      Was this review helpful? 10
      , mumbai
      Reviewed on Jan 26, 2016
    • Axis Bank Fixed Deposit
      "Best interest rate "
      0.5 5.0/5 "Blown Away!"
      I am getting 8.20% interest rate for the fixed rate . The minimum lock in period is for seven days.We can also with draw the amount in between the lock in period but they will charge 1-2% as the breaking charges. No activation fee for this plan.
      Was this review helpful? 16
      , aurangabad
      Reviewed on Dec 17, 2015
    • Axis Bank Fixed Deposit
      "Incorrect information"
      0.5 5.0/5 "Blown Away!"
      AXIS Bank FD is fine. I am holding this FD for a period of 2 months. The most interesting part is the customer support . The customer support has given a wrong information. The information pertaining to Interest earned on FD is 5 % per annum however I was told that it is 5% per month . No other option was there so I am bound to accept it.
      Was this review helpful? 12
      , pune
      Reviewed on Nov 30, 2015
    • Axis Bank Fixed Deposit
      "Rate is high for fixed deposit.."
      0.5 4.0/5 "Great!"
      Rate of interest is the main reason to take the fixed deposit. Axis bank is offering interest of 8.5% for the fixed deposit. Most probably they provide over draft but never inquired about the same. Rate is compounding where it accumulates in quarterly basis.
      Was this review helpful? 6
      , mumbai
      Reviewed on Nov 19, 2015
    • Axis Bank Fixed Deposit
      "Easy to deposit"
      0.5 4.0/5 "Great!"
      I am having the fixed deposit with the Axis bank. The minimum lock in period is around 5 years and I deposited around 50000 Rupees. Rate of interest is okay with them and I choose them because I am having the salary account with them. Customer services are good with them.
      Was this review helpful? 6
      , chennai
      Reviewed on Nov 12, 2015
    • Axis Bank Fixed Deposit
      "Save Your Money With Axis....."
      0.5 4.0/5 "Great!"
      I am sure that my money will be safe with axis bank. It was easy for me to start up with fixed deposit with them. The maturity period is 3.5 years. They used to deduct the money from my salary every month. The rate of interest is 45%, really high. I took this through my company. Even I am planning to have one more FD.
      Was this review helpful? 8
      , chennai
      Reviewed on Sep 28, 2015
    • Axis Bank Fixed Deposit
      "Good service.."
      0.5 5.0/5 "Blown Away!"
      I am maintaining a fixed account with AXIS Bank. Its a joint account. Till now I did not faced any issues with this bank. They resolved the queries an all immediately. I am happy with their customer service and I am happy with this account also.
      Was this review helpful? 5
      , belgaum
      Reviewed on Sep 21, 2015
    • Axis Bank Fixed Deposit
      "Service was fine..."
      0.5 3.0/5 "Satisfactory"
      I approached Axis bank for a credit card and they asked me to open a Fixed deposit and that is the main reason to take the deposit. Interest rate on fixed deposit was reasonable and rate was simple. I actually closed the deposit in middle of the tenure. Axis bank was fine in service.
      Was this review helpful? 7
      , pondicherry
      Reviewed on Sep 16, 2015
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