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  • Fixed Deposit BYTES FROM OUR KITCHEN

    Overview of Axis Bank Fixed Deposit

    The third largest private bank of India, Axis Bank offers a wide range of financial products like loans, credit cards, investment and insurance to its Indian and NRI customers. The bank has a network of nearly 2,402 branches and the largest ATM network in India with nearly 12,922 ATMs spread across the country. Apart from its strong national presence, Axis Bank has a global presence with seven international offices located in Singapore, Hong Kong, and Dubai etc.

    Axis Bank Fixed Deposits:

    Axis Bank offers simple Reinvestment Fixed Deposits wherein you can invest for a minimum period of 6 months. At the end of each quarter, the interest accumulated on your deposit is rolled over and capitalized along with the principal amount. The bank will calculate your interest on the total amount after accounting for tax deducted at the source. The bank offers various fixed deposit schemes varying in tenures and interest rates.

    Benefits & Features of Axis Bank Fixed Deposit:

    • With Axis Bank Fixed Deposits, you can avail the facility of automatic roll-over on maturity. This is applicable for both the principal amount and interest.
    • You can invest for a minimum period of 6 months.
    • Requires a minimum investment of ₹ 10,000.
    • Enjoy competitive interest rates on your fixed deposits.
    • It offers NRE and NRO Fixed Deposits for the NRIs. NRE Fixed Deposit interest rate is 8.90% at Axis Bank. The same rate applies to NRO deposit accounts as well.
    • Enjoy a hassle-free FD account opening process at the comfort of your home/office.
    • Transfer your funds smoothly from your savings account to higher interest producing fixed deposits.
    • Flexibility in choosing your branch and deciding the tenure and maturity date of your FDs. Also, you are free to open your FD account at any branch of your choice.

    Axis Bank Fixed Deposit Plus

    The Axis Bank Fixed Deposit Plus account is a newly-launched differential interest rates scheme. With this scheme, customers receive an additional 10 bps (0.10%) interest rates on their deposits. There are different deposit types within this scheme including Short Term Deposits, Reinvestment Deposits, Quarterly and Monthly Payout Deposits. The scheme is available only for single deposits exceeding Rs.15 lakhs. The Fixed Deposit Plus scheme is applicable for tenures including and above 1 year and less than 2 years. For deposits below 6 months, interest is calculated as per simple interest and compound interest calculations are applicable on deposits above 6 months, compounded quarterly.

    Premature withdrawal is not available under normal circumstances for this account. Customers can apply for preclosure of account only in the case of bankruptcy, winding up, deceased or directions from regulator/court/liquidator/receiver. In such cases, a premature withdrawal penalty will be applicable and the rate of interest will be as per the latest rates from the bank instead of the quoted rate at the time of account inception. Auto-renewal cannot be opted for this particular scheme.

    Axis Bank FD Eligibility:

    Indian resident individuals, NRIs and senior citizens are allowed to open their FD accounts with Axis Bank.

    Minimum/Maximum amount required to open an FD account with Axis Bank:

    The minimum amount required to open an FD account is ₹ 10,000. However, the bank accepts deposits up to ₹ 100 crores and above.

    Minimum/Maximum deposit tenures of Axis Bank FDs:

    You can open an FD account with Axis Bank for a minimum period of 7 days, and a maximum period of 10 years.

    Axis Bank FD Interest Rates:

    Axis Bank Fixed Deposit interest rates vary based on different tenures and the amount deposited. The bank offers 9.40% as highest interest rate on its fixed deposits. The lowest interest rate provided by the bank is 3.50%. However, these interest rates are subject to change depending on the changes in market, and the bank’s internal liquidity requirements. The bank can change its FD interest rates without giving prior notice to the customers.

    Are Loans Provided Against FDs at Axis Bank?

    Yes, Axis bank provides loans against its fixed deposits. You can use your fixed deposits to fulfil your financial requirements, and also enjoy the following benefits:

    • Get funds up to 85% of the value of your fixed deposits.
    • Interest payable only on the amount used, and for the period of utilization.
    • Access overdraft account with cheque book, ATM and Internet Banking.
    • Overdraft facility available.
    • Funds available at competitive rates.

    You can borrow a minimum amount of ₹ 25,000 with Axis Bank Fixed Deposits.

    Does Axis Bank Charge for Premature Withdrawal of FDs?

    The bank charges a nominal amount of 1% as premature withdrawal charge for its normal fixed deposits. However, NRE term deposits are exempted from the penalty fee.

    Axis Bank FD for Senior Citizens:

    Seniors citizens are allowed to open their FD accounts with Axis Bank. They are eligible to get 9.40% interest on their FDs, if they invest between ₹ 3 crore to ₹ 5 crore. They can invest for a minimum period of 7 days to a maximum period of 10 years.

    Does Axis Bank provide Tax Saver FDs?

    Yes, Axis Bank provides tax saver Fixed Deposits to HUFs and Indian residents. Under its tax saver FDs, the bank provides “Single holder Type Deposits" and “Joint holder Type Deposits”. The interest rates of Axis Bank tax saver Fixed Deposits differ based on different categories of applicant. For example, the interest rate is 8.50% for regular depositors (including HUF and individuals), 9.00% for senior citizen and 9.50% for staff. In case of normal fixed deposit plans, tax is deducted at source as per the regulations of the Income Tax Act, Government of India.

    Does Axis Bank allow pre-closure of fixed deposit accounts?

    Yes, the bank allows you to pre-close your fixed deposit account. However, it is subject to the terms and conditions specified by the bank from time to time.

    How is my interest on fixed deposits calculated at Axis Bank?

    Axis Bank calculates and pays interest on simple interest basis for a deposit opened for less than 6 months. But for fixed deposits of 6 months and above, the bank will calculate interest on a quarterly basis.

    Is having a savings bank account mandatory to open a fixed deposit account with Axis Bank?

    No. It is not mandatory to have a savings bank account to open a fixed deposit account with Axis bank. Prior to the FD maturity date, the bank will seek permission for its rollover, or transfer the funds to another bank account specified by the customer.

    Does Axis Bank allow joint fixed Deposit account?

    Yes, the bank has the provision for opening an FD account jointly. Joint FD accounts can be opened with a maximum of three applicants.

    How to withdraw funds in a fixed deposit from Axis Bank

    Axis Bank allows withdrawal and encashment of fixed deposits only in the particular branch where the deposit was opened initially. So, you need to contact the branch for its withdrawal.

    Does Axis Bank Charge for Premature Withdrawal of FDs?

    The bank charges a nominal amount of 1% as premature withdrawal charge for its normal fixed deposits. However, NRE term deposits are exempted from the penalty fee.

    Does Axis Bank offer FDs for NRIs?

    Axis Bank offers NRE, NRO, RFC and FCNR fixed/term deposits to NRIs. The NRE deposits offered by Axis Bank can be opened for a maximum period of 10 years. The bank offers 8.40% as its highest rate of interest for NRE deposits. This interest rate is applicable for investing less than Rs. 1 crore. Likewise, an NRO term deposit can also be opened for a maximum period of 10 years. The highest rate of interest offered for NRO term deposits is also 8.40% for investing Rs. 1 crore and above. FCNR deposits are offered for a maximum period of 5 years. You can open it through your FCNR (B) account. Axis Bank FCNR term deposit can be opened in six currencies which include USD, GBP, EURO, AUD, CAD and JPY. The bank offers different interest rates for fixed deposits opened in different currencies. By investing in these FCNR deposits, NRIs can get assured returns on their investment. RFC term deposits can be opened for a maximum period of 5 years and a minimum period of 30 days. The deposits can be opened by using the following currencies – USD, GBP, EURO, AUD and CAD. The interest offered for NRE, NRO, RFC and FCNR deposits may change without giving prior notification to NRIs.

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    Axis Bank Fixed Deposit Reviews

    • Axis Bank Fixed Deposit
      "Convenient fixed deposit"
      0.5 4.0/5 "Great!"
      My fixed deposit was opened with Axis bank, I invested around Rs. 1 lakh for one year. If I want I can also extend the tenure. I believe the rate of interest is more than 7% for per annum. I can also track the fixed deposit through online banking its more simple.
      Was this review helpful? 4
      , thane
      Reviewed on May 04, 2019
    • Axis Bank Fixed Deposit
      "Very Assured Fixed deposit"
      0.5 5.0/5 "Blown Away!"
      I opened a Fixed deposit in Axis bank for one year of term period . They sent a physical copy for my fixed deposit which gives a good assurance about that bank . So that my nominee can be aware of my FD and can approach them very easily if something happens to me . I can check the status of my FD through on line itself .
      Was this review helpful? 1
      , hyderabad
      Reviewed on Apr 23, 2019
    • Axis Bank Fixed Deposit
      "Convenient"
      0.5 4.5/5 "Excellent!"
      I have a Fixed Deposit with Axis Bank because they have offered more interest than ICICI BANK and its been more than 1.5 years. Their customer service is always good. The interest rate is around 7.6% which am not sure. I can manage the account online. I opted for 18 months.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Mar 26, 2019
    • Axis Bank Fixed Deposit
      "Services are good"
      0.5 5.0/5 "Blown Away!"
      I also bank with Axis Bank for the fixed deposit. The customer support and response is good. There are no hassles in the process. I could open this account online. The lock in period is for one year. The rate of interest they provide on my savings is also satisfactory.
      Was this review helpful? 11
      , pune
      Reviewed on Feb 15, 2019
    • Axis Bank Fixed Deposit
      "Average bank to avail fixed deposit"
      0.5 4.5/5 "Excellent!"
      I have chosen the Axis bank for my fixed deposit. I have deposited around of Rs. 50000. Since they are providing very good services in their branch. They have offered me a interest rate of 6.5%. I put the money in 2015. I have visited their branch many times and the service is very much prompt. I had no issues with them.
      Was this review helpful? 8
      , hyderabad
      Reviewed on Dec 11, 2018
    • Axis Bank Fixed Deposit
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have done with the fixed deposit with the AXIS BANK where the mobile application is easy and user friendly to access. It is easy to do the fixed deposit through the application which is paperless approval. The service is good with this bank.
      Was this review helpful? 6
      , chennai
      Reviewed on Dec 01, 2018
    • Axis Bank Fixed Deposit
      "Hassle Free FD account"
      0.5 4.0/5 "Great!"
      I have saving account hence in an application I can track and maintain the FD account. The bank is providing the interest rate around 6 to 8% for per annum. Its convenient I can open the FD account through app and I close the FD without any hassles. The amount also gets credited immediately to my bank account.
      Was this review helpful? 4
      , bangalore
      Reviewed on Nov 23, 2018
    • Axis Bank Fixed Deposit
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I've another fixed deposit with the Axis bank under my wife's name. I've deposited 21 lacs in this deposit. The interest rate is good and they disburse the interest quarterly. So far there hasn't been any issues with their services.
      Was this review helpful? 24
      , ahmedabad
      Reviewed on Jul 28, 2018
    • Axis Bank Fixed Deposit
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I've two fixed deposits with the Axis bank, one is under my name and the second one is under wife's name. I've deposited 7 lacs, the interest rate is very good. They disburse the cumulated interest quarterly and the tenure of the FD is 5 years.
      Was this review helpful? 10
      , ahmedabad
      Reviewed on Jul 28, 2018
    • Axis Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I have a Fixed Deposit with AXIS bank from last 3 months, i am happy with the service they provide. I get good returns on investments. Customer service was very good, they gave all the right information and guided me well. I will get 6.99% on returns after the maturity period.
      Was this review helpful? 7
      , ahmedabad
      Reviewed on May 08, 2018
    • Axis Bank Fixed Deposit
      "Very Poor Response by BRANCH EMPLOYEE"
      0.5 0.5/5 "Unacceptable"
      Its waste of time & money with axis bank. Don't have enough knowledge, lack of experience, and poor support. I opened a FD ACCOUNT AT AXIS BANK ON 13TH, and still they are unable to update my contact number in my account & cc. Wait....wait and waiting.. Nd branch is located in DELHI. NOW YOU CAN IMAGINE, how they will operate in rural area...
      Was this review helpful? 2
      , new delhi
      Reviewed on Feb 23, 2018
    • Axis Bank Fixed Deposit
      "Overall good"
      0.5 4.0/5 "Great!"
      I have a two lakh fixed deposit at Axis Bank. The bank is good in this process and the rate of interest is the same when compared to other banks. There is no lock in period and anytime I an withdraw the funds. There are no charges related to this account.
      Was this review helpful? 2
      , new delhi
      Reviewed on Feb 19, 2018
    • Axis Bank Fixed Deposit
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      Axis Bank is overall good in the banking process. I bank for a fixed deposit and there are no charges taken for this account. The customer support is good and the online banking is very convenient to open and close this account. The rate of interest is also good.
      Was this review helpful? 3
      , ahmedabad
      Reviewed on Feb 09, 2018
    • Axis Bank Fixed Deposit
      "Good Return"
      0.5 3.0/5 "Satisfactory"
      I had a good investment made an investment in Axis Bank through my Fixed Deposit Account with them. They gave me an interest rate of 8.25%, which I feel is one of the best in the Industry. I took it for a 2 years period and had the option of closing it even before the maturity.
      Was this review helpful? 8
      , mumbai
      Reviewed on Dec 26, 2017
    • Axis Bank Fixed Deposit
      "Need to improve"
      0.5 1.0/5 "Really Bad"
      I am having the fixed deposit account with the Axis bank and the customer service was not really good like they have to be get improved. I would like to say that the online banking system could be get improved. I have not faced any issues with them till now.
      Was this review helpful? 5
      , bangalore
      Reviewed on Nov 25, 2017
    • Axis Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      Even though I don't like the saving account with Axis bank as there is a minimum balance of Rs. 10000 has to be maintained I like the fixed deposit account with Axis bank as that process is simple and smooth and I have it for 2.5 years and also they pay good interests rates of 7.5%.
      Was this review helpful? 5
      , faridabad
      Reviewed on Nov 17, 2017
    • Axis Bank Fixed Deposit
      "Best"
      0.5 5.0/5 "Blown Away!"
      I am using Axis FD service for last 15 years. The amount differs for a fixed deposit. The interest rate was vey high than other nationalized banks. They providing more benefits to the customers. There is no issues with Axis and am completely satisfied with the service. The most interesting feature is they auto renew the policy or they pay extra charges for late 15 days.
      Was this review helpful? 6
      , kolkata
      Reviewed on Nov 16, 2017
    • Axis Bank Fixed Deposit
      "Its good investment"
      0.5 4.5/5 "Excellent!"
      I have invested one lakh in fixed deposit with AXIS bank. Its going to matured in this august, Then I would be getting around Rs.1.12,000. I have opened this FD through online and I will be getting the amount same to my account. AXIS gave me premature withdrawal, I can close whenever I want.
      Was this review helpful? 3
      , mumbai
      Reviewed on Jun 13, 2017
    • 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? 3
      , 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? 9
      , hyderabad
      Reviewed on Feb 20, 2017
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