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    Axis Fixed Deposit Plus

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    3.5% - 7.75% Quarterly compounding
    Response Time Within 30 minutes
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    7.25% Quarterly compounding
    Response Time Within 30 minutes
    Fixed Deposit BYTES FROM OUR KITCHEN

    The Fixed Deposit Plus scheme from Axis Bank offers a relatively high return rate in comparison with conventional fixed deposit schemes. Customers will have to make a deposit over a tenure of one to two years to eventually derive tax benefits.

    Eligibility Criteria to Open Axis Bank FD Plus

    Axis Bank offers the Fixed Deposit Plus scheme to both corporate and retail customers who intend on investing over Rs.15,00,000 in one go. Customers have the option of selecting a lock-in period that ranges between one year and two years, and premature withdrawals are not allowed until the maturity date.

    Account Type Term Deposit Account

    Types of deposits: Quarterly and monthly payout deposits, reinvestment deposit, short term deposit.

    Deposit Amount The minimum amount of money that a customer must deposit to open an Axis Fixed Deposit Plus term deposit account is Rs.15,00,001.
    Rate of Interest Check table below
    Period The minimum tenure of the deposit is one year and the maximum is less than two years
    TDS Tax is deducted at source in keeping with the IT regulations that prevail at the time of calculation. As per Section 194 A 3(i) (a) of the Income Tax Act, TDS on the interest accrued on fixed deposits is subtracted based on the total interest forecast on the average of the customer’s fixed deposits for the financial year. Therefore, if the total forecast interest in any particular financial year exceeds the benchmark limit (which is currently set at Rs.10,000), tax is subtracted proportionately from the existing FDs at the time when interest is applicable.
    Loan against the scheme Not available
    Nomination facility Available
    Auto Renewal Not applicable

    Axis Fixed Deposit plus Interest Rate

    PERIOD INTEREST RATES ON DEPOSITS BELOW Rs.1 CRORE INTEREST RATES ON DEPOSITS ABOVE Rs.5 CRORE
    Seven days to 14 days 3.50% 6%
    15 days to 29 days 3.50% 6%
    30 days to 45 days 5.50% 6%
    46 days to 60 days 6.50% 6.50%
    61 days to three months 6.50% 6.50%
    Three months to four months 7% 7%
    Four months to five months 7% 7%
    Five months to six months 7% 7%
    Six months to seven months 7.25% 7.25%
    Seven months to eight months 7.25% 7.25%
    Eight months to nine months 7.25% 7.25%
    Nine months to ten months 7.50% 7.50%
    10 months to 11 months 7.50% 7.50%
    11 months to one year 7.50% 7.50%
    One year to 13 months 8% 8.%
    13 months to 14 months 8% 8%
    14 months to 15 months 8% 8%
    15 months to 16 months 8% 8%
    16 months to 17 months 8% 8%
    17 months to 18 months 8% 8%
    18 months to two years 8.50% 8.50%

    Axis Bank FD Plus Interest Rates for Senior Citizens

    PERIOD INTEREST RATES ON DEPOSITS BELOW Rs.1 CRORE INTEREST RATES ON DEPOSITS ABOVE Rs.5 CRORE
    Seven days to 14 days 3.50% 6%
    15 days to 29 days 3.50% 6%
    30 days to 45 days 5.50% 6%
    46 days to 60 days 6.50% 6.50%
    61 days to three months 6.50% 6.50%
    Three months to four months 7% 7%
    Four months to five months 7% 7%
    Five months to six months 7% 7%
    Six months to seven months 7.50% 7.50%
    Seven months to eight months 7.50% 7.50%
    Eight months to nine months 7.50% 7.50%
    Nine months to ten months 7.75% 7.75%
    10 months to 11 months 7.75% 7.75%
    11 months to one year 7.75% 7.75%
    One year to 13 months 8.50% 8.50%
    13 months to 14 months 8.50% 8.50%
    14 months to 15 months 8.50% 8.50%
    15 months to 16 months 8.50% 8.50%
    16 months to 17 months 8.50% 8.50%
    17 months to 18 months 8.50% 8.50%
    18 months to two years 8.50% 8.50%

    *Interest rates are applicable as on December, 2015. Rates are subject to the bank’s discretion and can be changed at any time in the future.

    Customers have the option of choosing between compound interest and simple interest. The calculation of interest for fixed deposits that have a tenure of six months or more is done on a quarterly basis and the interest earned over the course of the previous quarter will be added to the principal before interest is calculated. The calculation of the interest rate on this sum is done every quarter. The calculation of fixed deposits that have a tenure of less than six months is done of simple interest basis. If the depositor selects to get the periodic interest payments on a quarterly basis, the calculation and payment of interest are both done on quarterly rests. The discounted rate over the standard rate is the fixed deposit rate that applies for customers who choose the monthly interest option.

    Frequently Asked Questions

    1. Can the money deposited into the Fixed Deposit Plus account be withdrawn prematurely?

      Customers cannot withdraw any deposits made under the scheme until five years of the term have lapsed. The only exception for premature withdrawals is the death of the depositor / bankruptcy / directions by liquidator or receiver or regulators or court / winding up. Closing this term deposit account prematurely due to any of the aforementioned circumstances will lead to a change in the applicable rate of interest to the prevailing Normal Fixed Deposit rate from the Fixed Deposit Plus rate. A penalty is also applicable in this case, but there will be no penalty if the request to close the term deposit is not initiated by the depositor.

      In case the term deposit account is opened with a joint holder, the applicants must submit a declaration with the signature of every holder as doing so is crucial in case one of the holders dies and the bank will be able to make premature payment of maturity to the survivor.

    2. What are the benefits of opening a fixed deposit account with Axis bank?

      Axis banks ensures that opening a fixed deposit account is hassle-free so customers can open one from the comfort of their office or homes. The transfer of funds is seamless and customers also receive the option of flexible deposit amounts, interest payment, tenure and maturity when opening their FD accounts.

    3. What are the requirements for opening a fixed deposit account with Axis bank?

      Customers who wish to open a fixed deposit plus account must have a savings account with Axis bank. Customers will need their own unique i-connect ID and password before opening an account via the internet.

    Useful Information on Axis Bank Fixed Deposit

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