• Axis Bank Tax Saver Fixed Deposit

    The Axis Bank Tax saver fixed deposit falls in line with the finance bill passed in 2006 wherein tax benefits were announced by the government for term deposits with a tenure greater than 5 years. The tax saver fixed deposits offered by Axis Bank do not allow for premature withdrawal and hence the lock in period of this scheme is 5 years so as to enable it to fall under tax exemption. The deposit will reach maturity in 5 years as well. Axis Bank fixed deposit rates are quite competitive and is on the same level withy industry standards for fixed deposits. Other than tax saver deposits, the bank also offers a host of deposits options including the Axis Bank Encash 24 Flexi Deposit and NRI deposit schemes such as NRE and NRO FDs.

    Axis Tax Saver Fixed Deposit Interest Rate

    Given below are the revised Axis Bank Tax Saver fixed deposit rates with effect from June 8, 2018 for regular and senior citizens:

    Tenure Regular FD rate (per annum) Senior citizen FD rate (per annum)
    5 years 7.00% 7.50%

    The Axis Bank tax saver fixed deposit has a term of 5 years and to provide tax benefits the lock in period of this deposit is also 5 years. As such the interest rates provided are 7.00% for regular depositors and 7.50% p.a. for senior citizens. Both Individual and joint deposit holders are required to give a written declaration to nominate persons in case of their demise. In case of the unfortunate demise of a deposit holder, the premature payment will be made out to the nominees.

    Eligibility Criteria to open Axis Bank Tax Saver FD

    The eligibility criteria to apply for the Axis Bank tax saver fixed deposit are as follows

    1. The individual opening the fixed deposit needs to have a PAN number
    2. Any resident Indian whose has attained the age of 18 years can apply either in Individual basis or in a joint basis
    3. The types of deposits available under this scheme are individual and joint. Individual deposits will be paid out to the individual who must have a PAN number and be at least 18 years old
    4. Joint deposits can be provided to either 2 adults or 1 adult and 1 minor. In joint deposits, upon maturity the deposit will be paid either to the individuals or the survivor. The deduction from income under section 80c of the Act will be made from the first holder who should have a PAN number

    Axis Bank Tax Saver FD: Features

    Interest Rate Tenure Type of scheme Investment Amount
    7.00% for regular depositors and 7.50% for senior citizens 5 years Reinvestment, quarterly, monthly From Rs.100 to Rs.1.5 lakh

    Other features

    • Joint or single account
    • Tax is deducted on the interest on the deposit in accordance with Income Tax provisions
    • No loan can be availed
    • Auto renewal not possible

    Axis Bank Fixed Deposit: How to Apply

    Step 1: Login to the Axis Bank internet banking portal

    Step 2: In the home screen, choose the deposit option

    Step 3: Choose the ‘Create Recurring Fixed Deposit’ option and fill all necessary details

    Step 4: Verify all details and submit the same.

    Step 5: After the Fd has been created a mail will be sent to the customer on his/her registered email id.

    One can also apply for an Axis Bank FD by visiting the nearest bank branch.

    Frequently Asked Questions

    1. What are the types of Schemes available under the tax saver fixed deposit?

    The type of schemes available under the Axis Bank Tax saver fixed deposit are TDGRI which is a reinvestment type and TDGQI which is a quarterly interest type of scheme

    2. Does the tax saver fixed deposit allow for early withdrawal?

    No. To provide tax benefits the policy does not allow early withdrawals and has a lock in period equal to the term of 5 years

    3. What are the requirements for an Individual to open a tax saving fixed deposit?

    An individual must be over the age of 18 years and must have a PAN number to open an individual deposit. In cases of joint deposits, the first holder should be an adult over the age of 18 years and the second or third depositor can be a minor. In cases of joint deposits, the deduction from income under section 80c will be available only to the first deposit holder who must have a PAN number

    4. Can one secure a loan against the deposit?

    No. Depositors cannot pledge the term deposit against a loan

    5. What are the type of deposits available in this scheme?

    The tax saver offers both individual and joint deposits

    Useful Information on Axis Bank Fixed Deposit

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    Axis Tax Saver Fixed Deposit Reviews

    • Axis Bank Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have a Fixed deposit account with Axis Bank. I have not faced any difficulties so far on using this account. The customer service is also good so far. Each and every transaction will be safe and secure .There was no drawbacks faced so far. I am very much comfortable in using this account.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Jun 06, 2019
    • Axis Bank
      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? 8
      , 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? 3
      , 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? 3
      , 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? 10
      , 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? 7
      , 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? 25
      , 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? 6
      , 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? 4
      , 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
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