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Axis Bank FD Calculator

Axis Bank Fixed Deposit Interest Calculator

Last Updated 14th Jul 2021

Axis Bank FDs have tenures ranging from 5 years to 10 years with maximum rate of interest of 5.75%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.25%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
30 days to 45 days 3.00% to 3.00% ₹ 1,00,247 - ₹ 1,00,370
46 days to 60 days 3.00% to 3.00% ₹ 1,00,378 - ₹ 1,00,493
90 days to 119 days 3.50% to 3.50% ₹ 1,00,863 - ₹ 1,01,143
6 months to 8 months 29 days 4.40% to 4.65% ₹ 1,02,212 - ₹ 1,03,511
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Axis Bank Fixed Deposit Calculator

Axis Bank fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in Axis Bank. Bank may allow higher interest rate on larger deposits. Axis Bank offers deposit amount in the range of 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. Axis Bank offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by Axis Bank is 5.75% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 5 years to 10 years.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 2.50% for a 5 years FD and a rate of 5.75% for a 10 years FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 2.50%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      Axis Bank calculates quarterly interest on its fixed deposits. You can also opt for tax saving scheme to save tax on fixed deposit.

Axis Bank Fixed Deposit Interest Calculator – Interest Payment Options

  • In a periodic interest payout option, Axis Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a Axis Bank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the FD maturity amount using the FD calculator.

FD Maturity Calculator

The interest earned on a fixed deposit in Axis Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on Axis Bank FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of Axis Bank FD.

Suppose if you make an investment of ₹ 1,00,000 in Axis Bank FD for a 5-year tenure at an interest rate of 5.75% for depositors below 60 years and 6.25% for senior citizens. The maturity amount for this deposit amount is ₹ 1,33,036 and the total interest earned is ₹ 33,036 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 36,354 which is higher. The maturity schedule of Axis Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 5.75% for Citizens below 60 years and at 6.25% for Senior Citizens for 5 years

Year Citizens below 60 Years of Age Senior Citizens above 60 Years
Interest Earned Closing Balance Interest Earned Closing Balance
2021 ₹ 2,896 ₹ 1,02,896 ₹ 3,149 ₹ 1,03,149
2022 ₹ 6,045 ₹ 1,08,941 ₹ 6,599 ₹ 1,09,748
2023 ₹ 6,400 ₹ 1,15,341 ₹ 7,022 ₹ 1,16,770
2024 ₹ 6,776 ₹ 1,22,117 ₹ 7,471 ₹ 1,24,241
2025 ₹ 7,175 ₹ 1,29,292 ₹ 7,949 ₹ 1,32,190
2026 ₹ 3,744 ₹ 1,33,036 ₹ 4,163 ₹ 1,36,353

Axis Bank FD Calculator Formula

Along with online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on Axis Bank FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P – Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

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FAQs

What is the highest interest earned on Axis Bank fixed deposit?

You can earn a maximum interest of 5.75% on Axis Bank fixed deposit.

How is Axis Bank FD interest calculated?

The formula to calculate interest on Axis Bank FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.

How many years FD will double in Axis Bank?

The growth of Axis Bank FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in Axis Bank FD. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 6.95%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/6.95 = 10.36. So it will take a little more than 14 years for one’s investment to get doubled in Axis Bank.

What are the minimum and maximum amounts that I can invest in an Axis Bank FD?

The minimum investment limit in Axis Bank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.


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Axis Bank News - Jul 2021
  • 2021-03-23 : Axis Bank hiked its interest rate on Fixed deposits
    With effect from 18 March 2021, Axis Bank revised its FD rates. Fixed deposit rates for 7 to 29 days is 2.50%, the rate for 30 days to 3 months stands at 3%, and it is 3.50% for 3 months one day to 6 months. Fixed deposit rate for 6 months to 11 months 25 days is 4.40%. In addition to this, fixed deposit rates for long tenors of 11 months 25 days to 1 year 5 days is 5.15% and it is 5.10% for one year 6 days to 18 months. The rate for 18 months 1 day to 2 year is 5.25%, it is 5.40% for 2 years 1 day to 5 years. The interest rate for long tenors of 5 years to 10 years is 5.75%.
  • 2021-02-26 : IRDAI gives approval for Axis Entities-Max Life Insurance deal
    The Insurance Regulatory and Development Authority of India has given its approval to acquire up to 12% stake in Max Life Insurance by Axis Bank and its subsidiaries, Axis Capital and Axis Securities. The IRDAI approval was an important venture transaction that was first announced in April 2020
  • 2021-01-12 : Axis Bank to waive penalty on premature closure of term deposits
    Axis Bank announced the removal of penalty on premature closure of all new retail term deposits booked on or after December 15, 2020, for a tenure of 2 years or more. The bank is striving to inculcate and encourage retail customers to go for long-term savings without worrying about the sudden need for liquidity.
  • 2020-10-30 : Axis Bank reported a net profit of ₹1,623 crores in Q2
    Axis Bank reported a net profit of ₹1,682.67 crores in the Q2 of FY21, as against a loss of ₹112 crores in the same period last year. The net interest income increased 20% y-o-y to ₹7,326 crore and its net interest margin (NIM) stood at 3.58%. Further, retail loans which include home, personal, gold, two-wheeler, gold and car loan grew 12% y-o-y to ₹3.05 trillion, accounting for 53% of the net advances of the bank.
  • 2020-06-03 : Axis Bank revised its FD rates
    With effect from 29 May 2020, Axis Bank revised its FD rates. Fixed deposit rates for 7 to 14 days is 3.25%, for 15 to 29 days it is 3.50% and 30 to 45 days it is 4%. Further, FD rates for the short tenor of 46 days to 6 months stands at 4.50%, for 6 months to 9 months is 5% and the rate for 9 months to 11 months 25 days is 5.25%. In addition to this, Fixed deposit rates for the long tenor of 11 months 25 days to 1 year 5 days it is 5.80%, FD rate for 1 year 6 days to 18 months is 5.70% and the rate stands at 5.75% for 18 months one day to 10 years.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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