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Axis Bank FD Interest Rates 2021

Axis Bank FD Interest Rates

Last Updated 14th Jul 2021

When it comes to the FD interest rate, the highest rate offered on Axis Bank FD is 5.75%. Latest Axis Bank FD interest rate for senior citizens, on the other hand ranges between 2.50% to 6.25%.

Tenure FD interest rates Senior Citizen FD interest rates
7 days to 14 days 2.50% 2.50%
15 days to 29 days 2.50% 2.50%
30 days to 45 days 3.00% 3.00%
46 days to 60 days 3.00% 3.00%
61 days to 3 months 3.00% 3.00%
Earn upto 6.95% on FD APPLY NOW

Axis Bank Fixed Deposit Features

Axis Bank FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of Axis Bank Fixed Deposit are:

  • Deposit Amount : Axis Bank FD can be opened with an amount as a low ₹ 10,000 to up to No Limit.
  • FD Tenure : Ranges between 7 days to 10 years.
  • Interest Rate Range : 2.50% p.a. to 5.75% p.a.
  • Senior Citizens FD Rate : 2.50% p.a to 6.25% p.a.
  • Highest Interest Rate : As per today’s rate, Axis Bank’s highest interest rate on FD is 5.75% offered for a tenure of 10 years.
  • Safety of Axis Bank Deposits : Axis Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD : Axis Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Axis Bank Tax Saver Fixed Deposit, Fixed Deposit Plus, Encash 24 Flexi Deposit, Regular Fixed Deposit, Regular Fixed deposit

Axis Bank FD Interest Rates Today

Interest rates on Axis Bank deposits are updated regularly by the Government of India. The following are updated Axis Bank FD interest rates 2021:

Tenure Interest Rate
7 days to 14 days 2.50%
15 days to 29 days 2.50%
30 days to 45 days 3.00%
46 days to 60 days 3.00%
61 days to 3 months 3.00%
90 days to 119 days 3.50%
3 months to 6 months 3.50%
6 months to 8 months 29 days 4.40%
9 months to 11 months 25 days 4.40%
11 months 25 days to 1 year 5.10%
13 months to 17 months 29 days 5.10%
18 months to 2 years 5.25%
30 months 1 day to 3 years 5.40%
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 5.10%
1 year 25 days to 12 months 29 days 5.10%
2 years to 30 months 5.40%
3 years to 4 years 364 days 5.40%
5 years to 10 years 5.75%

Axis Bank FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, Axis Bank offers a higher interest rate to senior citizens than the general public. Listed below are the Axis Bank fixed deposits interest rates for senior citizens 2021:

Tenure Interest Rate for senior citizens
7 days to 14 days 2.50%
15 days to 29 days 2.50%
30 days to 45 days 3.00%
46 days to 60 days 3.00%
61 days to 3 months 3.00%
90 days to 119 days 3.50%
3 months to 6 months 3.50%
6 months to 8 months 29 days 4.65%
9 months to 11 months 25 days 4.65%
11 months 25 days to 1 year 5.40%
13 months to 17 months 29 days 5.75%
18 months to 2 years 5.90%
30 months 1 day to 3 years 5.90%
1 year to 1 year 5 days 5.80%
1 year 5 days to 1 year 11 days 5.75%
1 year 11 days to 1 year 25 days 5.75%
1 year 25 days to 12 months 29 days 5.75%
2 years to 30 months 6.05%
3 years to 4 years 364 days 5.90%
5 years to 10 years 6.25%

Best FD Plan as per Axis Bank FD Rates

To invest in Axis Bank fixed deposit, you must compare Axis Bank Fixed Deposit Rates for varying tenures. Axis Bank FD Interest Rates 2021 are best for the deposits with a tenure of 5 years to 10 years, wherein the current Axis Bank Fixed Deposit Interest Rates is 5.75 p.a.

If you are looking to invest in short term deposits with Axis Bank, the interest rate of Axis Bank for FD ranges from 2.50% p.a. to 3.50% p.a. These deposits are known as short term deposits and are offered with a tenure of 7 days to less than 365 days. Short term Axis Bank Fixed Deposit Rates for senior citizens range from 2.50% to 3.50% p.a.

If you want to invest in long term deposits, Axis Bank Fixed Deposit Rates with tenure ranging from 5 years to 10 years are a good choice with interest rates on deposits at 5.75%.Axis Bank Senior citizens FD Rates are offered at special rates with the highest deposit rates of6.25% p.a. on long term FDs.

Below-mentioned is some of the benefits of opening an FD account in Axis Bank:

  • Interest on deposit is paid only at the time of the maturity
  • Axis Bank also offers a nomination facility on its fixed deposits.
  • Extra interest of 0.25% to 0.50% is payable to the senior citizens.
  • Availability of auto-renewal facility on the deposit.
  • Earn higher returns on the money deposited.

Axis Bank Fixed Deposit Rate Trends

Axis Bank has hiked interest rates on fixed deposits with effect from 28 Jun, 2021. The new Axis Bank highest FD rate is currently at 5.75%, which is an increase of 0.25% from the previous highest rate of 5.50%. Currently, Axis Bank FD rate for upto 1 year is 2.50% and 5.75% for 5 year FD.

Documents required to open Fixed Deposit Account in Axis Bank

  • Passport or Driving License
  • 2 Photographs
  • Age proof (Birth certificate, matriculation certificate, etc,)
  • Passport size photographs
  • Bank A/c details

Axis Bank Fixed Deposit Rates – Premature Withdrawal

You can close your Axis Bank FD account prematurely, however Axis Bank charges a penalty of 1% for premature withdrawal. Also, The penal provisions for premature closure on Axis Bank FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit Axis Bank

Axis Bank offers loans up to 90% against its own deposit. Note that Axis Bank will not give you loan against FD of any other bank. Axis Bank offers Loan against FD at the rate of 3.5% to 6.75%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in Axis Bank. The borrower later decided to take a loan against his FD. The bank has approved a credit limit of 90% against his FD at 10% interest rate. Now, if the borrower draws ₹ 90,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on ₹ 90,000 available for 1 month only. The amount he repays after 1 month is ₹ 90,000. So, the interest charged on the loan taken is ₹ 0.

FD Account Opening Process at Axis Bank

To open an Axis Bank Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of Axis Bank and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the Axis Bank FD after reading the terms and conditions.

To open a Fixed Deposit account in Axis Bank, you can visit the official website and login to your account. Choose the Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the Axis Bank FD after reading the terms and conditions.

Nomination Facility on Axis Bank FD

Axis Bank also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an Axis Bank FD account. The nominee has to submit his/her identification proof at the time of claim.

Axis Bank Fixed Deposit Scheme

Axis Bank Tax Saver Fixed Deposit

Description:

  • Under this scheme, the bank provides the flexibility to choose between Single holder Type Deposits and Joint holder Type Deposits. The interest rate on this scheme depends upon the category of applicant applying under this deposit scheme.
  • Option to choose between single or joint holder type deposits
  • Nomination facility available
  • You can claim tax benefits on your deposit with a fixed deposit receipt issued by the bank
  • Opportunity to save your taxes with this deposit and earn maximum benefit on your deposit
  • Tax benefits on deposit under section 80C of Income Tax Act, 1961

Who is eligible?

  • Resident Indians and hindu undivided family
Fixed Deposit Plus

Description:

  • Under this scheme, the customers will earn a higher rate of return on their?fixed deposit?investment as compared to regular term deposit rates.
  • Opportunity to earn more higher return on this deposit
  • Nomination facility available
  • TDS facility available on the deposit
  • Option to choose your method of interest calculation
  • Option to choose between deposit type under this scheme including short term deposit, reinvestment deposit and monthly and quarterly payout deposit

Who is eligible?

  • Resident Indians, hindu undivided family, sole proprietorship firms, partnership firms, limited companies and trust
Encash 24 Flexi Deposit

Description:

  • This deposit scheme offers dual benefits of the liquidity of a savings account and high earnings of a fixed deposit.
  • Availability of auto renewal facility on the deposit
  • Tax benefits on deposit under section 80C of Income Tax Act, 1961
  • Enjoy maximum liquidity on your investment
  • Get benefits with a shorter tenure period
  • Fixed deposit account is linked to existing savings account

Who is eligible?

  • Savings account holder with valid PAN card details
Regular Fixed Deposit

Description:

  • Under this scheme, the depositor is allowed to make investment into the deposit to earn attractive and higher returns along with a flexibility and security.
  • Convenience of opening a fixed deposit account with ease
  • Nomination facility available
  • Enjoy benefit with a shorter minimum tenure
  • Earn higher returns on the money deposited
  • Avail automatic rollover facility on your principal and interest both

Who is eligible?

  • Resident Indians, hindu undivided family and sole proprietorship firms
Regular Fixed deposit

Description:

FAQs

What is the highest fixed deposit interest rate for Axis Bank?

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

Are there any special rates for senior citizens FD of Axis Bank?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 2.50% to 5.75%. Compared to this, Axis Bank senior citizens FD are in the range of 2.50% to 6.25%.

What are the current Axis Bank FD interest rates 2021?

Current interest for FD in Axis Bank ranges between 2.50% - 5.75%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with Axis Bank?

The minimum deposit amount required to book an FD with Axis Bank is ₹ 10,000.

Did Axis Bank increase FD rates in 2021?

Yes, the highest rate on Axis Bank FD has been increased from 5.50% to 5.75%. The fixed deposit rates of Axis Bank are now in the range of 2.50% to 5.75% with effect from 28 Jun, 2021.

Is it possible to change the tenure of my existing fixed deposit account with Axis Bank?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with Axis Bank without their PAN card

  • Your TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

Can a customer open an FD account online in Axis Bank?

Yes, you can submit your application for opening an FD account on the website of Axis Bank. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.

In how many years FD will double in Axis Bank?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 5.75%. For Axis Bank FD the number of years in which your FD will get doubled is; 72/5.75 = 13

What is the interest of 1 lakh in the Axis Bank?

The interest on Axis Bank fixed deposit depends on the tenure of the FD for which it is deposited. Below mentioned is the Axis Bank FD interest rate 2021 across different tenures.

TenureInterest Rate
7 days to 14 days 2.50%
15 days to 29 days 2.50%
30 days to 45 days 3.00%
46 days to 60 days 3.00%
61 days to 3 months 3.00%
90 days to 119 days 3.50%
3 months to 6 months 3.50%
6 months to 8 months 29 days 4.40%
9 months to 11 months 25 days 4.40%
11 months 25 days to 1 year5.10%
13 months to 17 months 29 days 5.10%
18 months to 2 years 5.25%
30 months 1 day to 3 years 5.40%
1 year to 1 year5 days 5.10%
1 year 5 days to 1 year11 days 5.15%
1 year 11 days to 1 year25 days 5.10%
1 year 25 days to 12 months 29 days 5.10%
2 years to 30 months 5.40%
3 years to 4 years 364 days 5.40%
5 years to 10 years 5.75%


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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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