Axis Bank Recurring Deposit Interest Rates
The interest rates offered by Axis Bank on its recurring deposit schemes are listed in the table below:
|Tenure||Regular Interest Rates (p.a.)|
|6 months to less than 7 months||4.40%|
|7 months to less than 8 months||4.40%|
|8 months to less than 9 months||4.40%|
|9 months to less than 10 months||4.40%|
|10 months to less than 11 months||4.40%|
|11 months to less than 11 months 25 days||4.40%|
|11 months 25 days to less than 1 year||4.40%|
|1 year to 1 year 5 days||5.10%|
|1 year 5 days to 1 year 11 days||5.15%|
|1 year 11 days to 1 year 25 days||5.15%|
|1 year 25 days to 13 months||5.10%|
|13 months to 14 months||5.10%|
|14 months to 15 months||5.10%|
|15 months to 16 months||5.20%|
|16 months to 17 months||5.20%|
|17 months to 18 months||5.20%|
|18 Months to 2 years||5.25%|
|2 years to 30 months||5.40%|
|30 months to 3 years||5.40%|
|3 years to 5 years||5.40%|
|5 years to 10 years||5.75%|
Note: The mentioned interest rates are for deposits below Rs.2 crore.
Know more about Recurring Deposit
Key Highlights of Axis Recurring Deposits
|Minimum Deposit Amount||Min: Rs.500|
|Tenure||Min: 6 months Max: 10 years|
|Additional Interest Rate for Senior Citizen||Up to 0.65%|
|TDS on RD||Applicable|
|Late Penalty||Rs.10 per Rs.1000 per month|
How to Open an RD Account in Axis Bank
You can open a recurring deposit account with Axis Bank in three ways:
- By visiting the branch
- Through net banking
- Through mobile banking
Premature Withdrawal Rules
In case of premature withdrawal, ROI will be 1% below the rate applicable for the period the deposit has remained with the bank. If you delay your payments towards the monthly instalments, the bank will charge Rs.10 per Rs.1,000 per month. This means that if your deposit amount is Rs.2,000, the late payment penalty will be Rs.20.
Axis Bank RD Calculator
Axis Bank RD calculator to calculate the interest on your RD. There are many websites that offer recurring deposit calculators. The process is simple and hassle-free. All you need to do is enter all the details pertaining to your RD account, including the amount, tenure, and rate of interest.
Say you want to check how much you will earn if you put aside Rs.500 per month in an Axis RD, for a period of 3 years. Put in the monthly instalment amount as Rs.500 and select a tenure of 3 years and 0 months. The calculator will tell you that interest earned will be 7.5% p.a., the maturity value will be Rs.20,227, and the aggregate interest amount that you earn will be Rs.2,227.
Put your money in RD schemes offered by Axis Bank and enjoy competitive rates. However, to enjoy better returns, look for other investment vehicles like mutual funds, fixed deposits, stocks, and bonds, among others.
Axis RD Interest Rates FAQ's
- Can I open a RD account with Axis Bank having deposits above Rs.2 crore?
Yes, you can open a RD account having a deposit above Rs.2 crore.
What is the rate of TDS, if I furnish my PAN?
If PAN is furnished, the rate of TDS is 10%.
To avoid TDS, what do I need to submit?
You need to submit a declaration under Section 197A of the Income Tax Act in Form 15-G or Form 15-H, as applicable.
Under which section of the Income Tax Act, TDS is deducted?
TDS is deducted under section 194 A 3 (i) (a) of the Income Tax Act.
- What is TDS threshold limit?
It is Rs.40,000 in a financial year for general citizens while for senior citizens it is Rs.50,000.
RD Interest Rate Pages
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RD Other Pages
- Recurring Deposit Vs. Chit Fund
- Miss to Pay the Recurring Deposit Due
- Difference Between Recurring Deposit and SIP
- Open RD Account through HDFC NetBanking
- RD Account in SBI
- Advantages of Recurring Deposit
- Flexi RD
- SBI Flexi RD Schemes
- Monthly Recurring Deposit
- Co-operative Bank Recurring Deposit
- City Union Bank Recurring Deposit
- Indian Bank Recurring Deposit
- Union Bank Recurring Deposit
- UCO Bank Recurring Deposit