Axis Bank Fixed Deposit(FD) Rates

Axis bank is a private bank and the third largest in that sector. The bank commenced its operations in the year 1994. Axis bank was jointly promoted by Specified Undertaking of Unit Trust of India, Life Insurance Corporation of India, General Insurance Corporation of India, National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. It offers higher rate of return on fixed deposit. The bank has overseas international offices and branches at Singapore, Hong Kong, Dubai International Financial Centre, Colombo and Shanghai and it is also the first Indian Bank to have set up its branch in China.

The updated list of axis bank fd rates, on less than 1 crore are listed below:

• Attractive interest rates offered on Axis Bank FDs across all tenures
• The minimum tenure is 7 days while the maximum tenure is 10 years
• Rates may change from time to time without prior notice
• The interest on any Axis Bank FD will be subject to TDS if the interest earned is more than a said amount
• The bank offers automatic renewal facility
• If you choose a tenure that is more than 6 months, the interest will be computed on a quarterly basis

Axis Bank Short-term Fixed Deposit Rates

Axis Bank allows you to take a fixed deposit for a short period of 7 days to 14 days at an interest rate of 3.50% per annum. Interest rate for 30 days is 5.50% per annum and for 4 months to less than 9 months the interest is 6.25% per annum and the interest rate for less than a year but above 9 months is 6.50% per annum for Indian citizens for deposits below Rs.1 crore.

Axis Bank Medium and Long-term Fixed Deposit Rates

Axis Bank offers medium and long term fixed deposits to the Indian citizens, senior citizens, NRE and NROs. The Indian citizens are offered 6.25%-6.85% per annum interest rate for deposits of less than Rs.1 crore made for 1 year to less than 2 years. The interest rate offered for 2 years to less than 5 years is stable at 6.25% per annum for the Indian citizen. For deposits above 5 years to 10 years, the interest offered to Indian citizen is 6.25% per annum.

Axis Bank Senior Citizens FD rates

Senior citizens get a higher interest rate than those of Indian citizens and NRE and NRO. They get an interest of 3.50% per annum for deposits of below Rs.1 crore kept for a period of 7 days to 14 days. The deposits kept from 9 months to less than a year attracts an interest of 6.75% for deposit of less Rs.1 crore. For deposits above 1 year till less than 2 years attracts the highest interest at 7.35%per annum. Deposits from 2 years to less than 5 years attracts interest of 6.75% per annum. Deposits above 5 years and less than 10 years get interest at 6.75% per annum.

Know More About Axis Fixed Deposit

Loan against Axis Bank FDs

Axis Bank Fixed Deposits (FDs) can be liquidated at the time of a financial emergency. Loans and overdraft facility can be taken against all FDs held with the bank. Applying for a loan against an FD is a very simple, easy and hassle-free process. One can apply for a loan at the click of a button through internet or mobile banking.

All customers who hold an FD are eligible for this facility. The minimum amount that can be taken as a loan is Rs.25,000 and there is no upper limit on the maximum amount that can be taken. Customers can take up to 85% of the FD amount as a loan. One of the benefits of this type of loan is that the interest is charged only for the amount taken as loan. Axis Bank also allows customers to make premature withdrawals on all FDs.

Axis Bank NRI FDs

Axis Bank offers various attractive investment options for Non-Resident Indians (NRIs) and these schemes come with a wide range of benefits such as attractive interest rates, full repatriability, a  number of tax benefits and interest payout options. The different types of FD options for NRIs are NRE, NRO, and FCNR accounts.

The interest rates offered on NRE deposits range from 6% to 7%, while the rate of returns on NRO deposits range from 3.5% to 7%. They also offer competitive interest rates on FCNR term deposits, which can be held in various currencies such as Great British Pound, US Dollar, Euro, Japanese Yen, Canadian Dollar, and Australian Dollars.

Fixed-income & market-linked investments

Fixed income investments offer a certain fixed rate of return, while market-linked investments offer returns based on how the market performs.

Fixed-income investments can be made through fixed deposits, bonds, company deposits, and post office savings schemes. These types of financial products come with guaranteed returns but are safe and secure with almost nil risks.

On the other hand, when it comes market-linked financial products, they are only for those who have a huge appetite for taking financial risks. Though these types of investment come with promising returns, there is also a chance of losing money if the markets crumble.

Know how to Link Your KYC Dcuments to Axis Bank Account