|Tenors||ROI (% p.a.)||ROI for Senior Citizens (% p.a.)|
|1 Year to less than 2 years||7.5||8|
|2 Years to 3 years||7.5||8|
|3 Years to 5 years||7.5||8|
|5 years to 10 Years||7.25||7.75|
Axis Bank offers two attractive RD schemes - one for regular customers in India and the other for Non-Resident Indians(NRIs) - NRE/NRO Recurring Deposit. The recurring deposit for Resident Indians offers the opportunity make a stable investment over chosen deposit period, through monthly deposits. The investment term can range from 12 months to 120 months. For Non-Resident Indians(NRIs), Axis Bank offers the NRE/NRO Recurring Deposit scheme which can be opened online and the depositors can choose from a tenure option ranging from a minimum period of 1 year to 10 years. Indians who reside in USA, the Middle East, Africa, Canada, U.K, Australia, Europe, Singapore and other bank approved countries, can avail this scheme.
The interest rate offered on Axis Bank RD depends on various factors such as - the tenure of investment or maturity period and the accumulated amount available in the RD account when the interest rate is applied on a quarterly basis.
Axis Bank’s Short-Term Recurring Deposit Interest Rates
Depositors can choose to hold a recurring deposit in Axis bank for a minimum term of one year. The rate of interest on a recurring deposit in Axis Bank for funds lesser than Rs. 1 crore, deposited for a short term of 1 Year to less than 2 years is 7.50%. Likewise, the interest rate applicable on recurring deposit placed in Axis Bank for a tenure of 2 Years to 3 years is 7.50%.
Axis Bank’s Medium and Long Term Recurring Deposit Interest Rates
Axis Bank offers medium and long term recurring deposits to regular customers at highly beneficial rates of interest. For a medium-term of 3 Years to 5 years, the interest rate offered on deposits worth up to Rs.1 crore is 7.50%. The rate of interest offered for a recurring deposit of less than Rs. 1 Crore is 7.25% per annum for a long-term tenure of 5 years up to a period of not more than 10 years, for regular customers.
Axis Bank’s Senior Citizen RD Rates
Interest rates vary according to the tenure of the recurring deposit and other related conditions. Senior citizens can avail an additional 0.50% over and above the standard interest rates offered to regular customers. A senior citizen recurring deposit scheme held for a period of 12 months to less than 2 years is offered an interest rate of 8.00% and for a period of 2 years to 3 years, the interest rate applicable on the RD is 8.00%. For a tenure of 3 years up to 5 years, the interest rate on RD is 8.00% and for a tenure of 5 years up to 10 years, the rate of interest offered by Axis Bank is 7.75%.
Axis Bank’s NRI/NRE RD Rates
NRIs are offered a deposit tenure ranging from not less than 1 to not more than 10 years. The depositor can make a minimum deposit of Rs.1,000 and can then extend it by multiples of Rs.500.
More you need to know about Recurring Deposit
- Compare Interest Rates on Recurring Deposit of Axis Bank with Other Banks and Institutions
- Check Features and Schemes of Axis Bank Recurring Deposit
Read More Articles On RD
- Best Banks for Recurring Deposit in India
- Recurring Deposit Interest Rates of All Banks
- Tax on Recurring Deposit
Know how to Link Your KYC Dcuments to Axis Bank Account
News About Axis Bank Recurring Deposit
Revised Axis Bank Recurring Deposit Rates
Axis Bank has recently updated the interest rates applicable on its Recurring Deposits (RD) portfolio. The same are listed herein:
RD with tenure ranging from 1 year to/less than 2 years will command 7.5% (this was 7.90% earlier). The same percentage of 7.5% applies on the subsequent tenors ranging from 2 years to/less than 3 years, and the incremental 3 years to/less than 5 years. Both these tenures were worth 7.75% earlier.
RD with tenure ranging from 5 years to 10 years will now be worth 7.25%. This range used to command 7.50% earlier.
The rates applicable for senior citizens has also been suitably updated. Traditionally, there is an addition of 0.50% for each condition corresponding to the regular tenure. Thus, 1 year to less than 2 years = 8% (this was 8.40% earlier), 2 years to 5 years = 8% (this was 8.25% earlier) and 5 years to 10 years = 7.75% (this was 8.00% earlier).
22nd April 2016