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Axis Bank RD Interest Calculator

RD Calculator Axis Bank in India Sep 2020

Last Updated 22nd Sep 2020

Tenure General Rates Senior Citizen Rates
1 year 11 days to 12 months 29 days 6.40% 6.90%
9 months to 364 days 6.05% 6.55%
1 year to 1 year 4 days 6.40% 6.90%
14 months to 16 months 29 days 6.40% 6.90%
13 months to 13 months 29 days 6.40% 6.90%
1 year 5 days to 1 year 10 days 6.40% 6.90%
17 months to 17 months 29 days 6.40% 6.90%
18 months to 1 year 364 days 6.50% 7.00%
2 years to 2 years 364 days 6.50% 7.00%
3 years to 4 years 364 days 6.50% 7.00%
5 years to 10 years 6.50% 7.00%

Calculate RD Maturity Amount of All Banks in India

Axis Bank RD Calculator
Investment Offers with High Returns offerOffers
Bank/NBFCs Rate Tenure Action
Bajaj Finance FD7.35%60 MonthsAPPLY
PNB Housing Finance FD7.20%120 MonthsAPPLY
DBS Bank Savings Account5.00%N.A.APPLY

Axis Bank Recurring Deposit Calculator

Axis Bank, a leading Private Bank in India offers attractive interest rates upto 6.50% on its Recurring deposits.
RD maturity amount that you will get depends upon

  • Deposit amount
  • Rate of interest
  • RD tenure
  • Compounding frequency
  • TDS applicability and TDS rate

Axis Bank Recurring Deposit Interest Calculator

  • 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 same across the life of the deposit. On maturity of RD, 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 RD maturity amount using the RD calculator.

Tax on Recurring Deposit Axis Bank

  • In case the interest earned by you across all your recurring deposits across all branches of Axis Bank in a year exceeds 10,000, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the Axis Bank records, it must deduct twice the TDS at 20.6%. So, do remember to update your PAN on your RD.
  • We aren’t done yet. This was only the TDS. Now, you would need to add the interest income on all your Axis Bank RD’s and other RD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. You must estimate the interest income and all your other incomes and, based on this, pay advance tax on advance tax payment dates (15th Sep, 15th Dec, 15th March and 31st March).
  • Axis Bank will also issue you a Form 16A giving details of tax deducted on RD interest and tax deposited by it with government treasury. The TDS amount deposited by the bank with Income Tax Department can be verified in your 26AS statement available online on IT department website or through your net banking account. You can claim credit for the TDS amount in your annual Income Tax Return.

Axis Bank RD interest rate calculator – Check your city

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • To know more or apply, contact any of the branches of Axis Bank in your city

FAQs

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

You can earn a maximum interest of 6.50% on Axis Bank recurring deposit.

Are there any extra benefits for senior citizens on fixed deposit of Axis Bank?

Yes, senior citizens get extra benefit of 0.5% interest rates on their RD in Axis Bank.


*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More