Axis Bank’s fixed deposits (FDs) are highly sought-after by customers for the attractive and competitive Axis Bank FD rates. With its strong network of 4,903 domestic branches and 15,953 ATMs and cash recyclers (as of March 2023), Axis Bank has cemented its position as the third largest private sector bank in India.
In this article, we explore the comprehensive range of Axis Bank FD interest rates in 2023.
What are Axis Bank FD Rates?
Axis Bank FDs are considered a safe way to invest your money. Axis Bank FD interest rates range from 3.50% to 7.20% p.a. for the general public and 3.50% to 7.95% p.a. for senior citizens on tenures spanning 7 days to 10 years.
Axis Bank FD schemes come with benefits like higher Axis Bank FD rates for senior citizens, competitive rates for short-term deposits, and the option to avail loans up to 90% againstthe FDs.
Axis Bank FD Calculator
The Axis Bank FD Calculator is a valuable tool that allows customers to estimate potential returns on their FD investments based on different Axis FD rates and tenure. By entering details such as the deposit amount, FD rate, and deposit tenure, depositors can calculate the interest earned and the maturity amount they will receive at the end of the deposit period.
The online Axis Bank FD calculator is available on the bank’s official website, as well as on various financial websites.
Axis Bank FD Rates for General Citizens on Domestic/NRO Deposits
| Tenure | Axis Bank FD Rates % (p.a.) | ||
| Below 2 crores | Between 2 – 2.30 crores 2.40 – 4.91 crores 4.92 – 5 crores | Between 2.30 – 2.40 crores 4.91 – 4.92 crores | |
| 7 to 14 days | 3.5 | 4.8 | 4.75 |
| 15 to 29 days | 3.5 | 5 | 4.75 |
| 30 to 45 days | 3.5 | 5.5 | 4.75 |
| 46 to 60 days | 4 | 6 | 4.75 |
| 61 days < 3 months | 4.5 | 6.25 | 4.75 |
| 3 < 4 < 5 < 6 months | 4.75 | 6.5 | 4.75 |
| 6 < 7 < 8 < 9 months | 5.75 | 6.65 | 4.75 |
| 9 < 10 < 11 months | 6 | 6.75 | 5 |
| 13 < 14 < 15 months | 7.1 | 7.25 | 5 |
| 15 < 16 months | 7.1 | 7.15 | 5 |
| 16 < 17 months | 7.2 | 7.15 | 5 |
| 17 < 18 months | 7.1 | 7.15 | 5 |
| 18 months < 2 years | 7.1 | 7.15 | 5 |
| 2 years < 30 months | 7.05 | 7 | 5 |
| 30 months < 3 years < 5 years < 10 years | 7 | 7 | 5 |
Axis Bank FD Rates for Senior Citizens on Domestic/NRO Deposits
| Tenure | Axis Bank FD Rates % (p.a.) | ||
| Below 2 crores | Between 2 – 2.30 crores 2.40 – 4.91 crores 4.92 – 5 crores | Between 2.30 – 2.40 crores 4.91 – 4.92 crores | |
| 7 to 14 days | 3.5 | 4.8 | 4.75 |
| 15 < 30 < 45 days | 3.5 | 5 | 4.75 |
| 46 days to 60 days | 4 | 6 | 4.75 |
| 3 < 4 < 5 < 6 months | 4.75 | 6.5 | 4.75 |
| 6 < 7 < 8 < 9 months | 6 | 6.9 | 5 |
| 9 < 10 < 11 months | 6.25 | 7 | 5.25 |
| 13 < 14 months | 7.85 | 8 | 5.75 |
| 14 < 15 months | 7.85 | 8 | 5.75 |
| 15 < 16 months | 7.85 | 7.9 | 5.75 |
| 16 < 17 months | 7.95 | 7.9 | 5.75 |
| 17 months < 18 months < 2 years | 7.85 | 7.9 | 5.75 |
| 2 years < 30 months | 7.8 | 7.75 | 5.75 |
| 30 months < 3 years < 5 years < 10 years | 7.75 | 7.75 | 5.75 |
Check the latest Axis Bank FD interest rates on the bank’s official website
Axis Bank FD Rates for Tax Saving Scheme
When you invest in Tax Saving FD, you can save up to Rs 1.5 lakh in taxes under Section 80C of the Income Tax Act. The Axis Bank FD rates for this scheme is 7% p.a. for regular citizens and 7.75% p.a. for senior citizens.
Key Features:
- Deposit Amount: ₹100 to ₹1.5 lakh in a financial year
- Tenure: 5 years
- Interest Payable Options: Quarterly, monthly, at maturity (re-investment/quarterly compounding)
Axis Bank FD Rates for NRIs
Axis Bank offers different FD products designed for Non-Resident Indians (NRIs). Indian banks provide NRIs with two types of bank accounts: NRE and NRO (Non-Resident Ordinary).
Axis Bank FD Rates: NRE Accounts (Less than ₹5 crores)
| Tenure | Axis Bank FD Rates % (p.a.) | ||
| Below 2 crores | Between 2 – 2.30 crores 2.40 – 4.91 crores 4.92 – 5 crores | Between 2.30 – 2.40 crores 4.91 – 4.92 crores | |
| 1 year to 1 year 4 days | 6.75 | 7.25 | 5 |
| 1 year 5 days to 1 year 10 days | 6.8 | 7.25 | 5 |
| 1 year 11 days to 1 year 24 days | 6.8 | 7.25 | 5 |
| 1 year 25 days < 13 months | 6.8 | 7.25 | 5 |
| 13 < 14 < 15 < 16 | 7.1 | 7.25 | 5 |
| 16 < 17 months | 7.2 | 7.15 | 5 |
| 17 months < 18 months < 2 years | 7.1 | 7.15 | 5 |
| 2 years < 30 months | 7.05 | 7 | 5 |
| 30 months < 3 years < 5 years < 10 years | 7 | 7 | 5 |
Axis Bank FD Rates for FCNR FDs
Axis Bank’s FCNR (Foreign Currency Non-Resident) deposit is a good choice for individuals with foreign income. The interest earned on FCNR deposits is not taxed in India, and both the principal amount and interest earned can be withdrawn anytime.
| Tenure | Axis Bank FD Rates % (p.a.) | ||||
| USD | EURO | CAD | AUD | GBP | |
| 1 < 2 years | 5.6 | 2.9 | 4.2 | 3.7 | 4 |
| 2 < 3 years | 4.8 | 0.01 | 3.5 | 3.75 | 3.75 |
| 3 < 4 years | 4.5 | 0.01 | 3.45 | 3.8 | 2.45 |
| 4 < 5 years | 4.1 | 0.01 | 3.35 | 4 | 2.45 |
| 5 years | 4.1 | 0.01 | 3.3 | 4.05 | 2.45 |
How to Open an Axis Bank FD?
You can open an FD account via both online and offline methods with an Axis Bank FD form. Follow the simple steps to open an Axis Bank FD account:
Online Process
- Log in to the Axis Bank netbanking account.
- Select the ‘Deposit’ option and click on ‘Create Fixed Deposit.’
- Provide all relevant details and choose a nominee.
- Verify the details and click on ‘Confirm.’
- Once confirmed, the fixed deposit amount will be debited from your savings account, and you’ll receive an instant web receipt.
Offline Process
- Visit the nearest Axis bank branch and request an Axis Bank FD form.
- Fill in the form with accurate details.
- Submit the required documents along with the deposit amount.
- Once the application is successfully processed, Axis Bank will provide you with an FD receipt for your records.
Eligibility Criteria to Open an Axis Bank FD
Eligible entities and individuals for opening an Axis Bank FD account include:
- Limited Companies
- Trust Accounts
- Partnership Firms
- Hindu Undivided Families (HUFs)
- Sole Proprietorship Firms
- Residents
Documents Required to Open an Axis Bank FD
To open an Axis Bank FD account, you need:
- Identity and address proof (Aadhaar Card, PAN Card, utility bills etc.)
- Copy of PAN Card
- Additional documents will be required depending on the type of entity.
Conclusion
Investors seeking a secure and safe investment can consider Axis Bank FDs as a good option. Axis Bank FD rates are competitive, meeting diverse customer needs. The Axis Bank FD calculator helps you estimate returns, enabling better investment planning and higher earnings.
Axis Bank FD interest rates are subject to change, so it’s best to check the latest rates before investing.
You can open a Fixed Deposit online with Axis Bank for a flexible tenure starting from a minimum of 7 days to a maximum of 10 years, saving a minimum of Rs. 5,000.
You can open a Fixed Deposit online with Axis Bank for a flexible tenure starting from a minimum of 7 days to a maximum of 10 years, saving a minimum of Rs. 5,000.
Yes, the interest earned on Axis Bank FD is taxable under the Income Tax Act, 1961. The bank deducts TDS at the rate of 10% if PAN is provided and 20% if not.
You should provide your personal information like name, address, and PAN number in the Axis Bank FD form. Additionally, mention the deposit amount, tenure, and interest rate for the FD.
