Fixed deposits are the deposits in which a specified amount is deposited for a certain period of time. The amount locked-in is paid back along with the interest accrued at the maturity. It is the best option for those who want to earn fixed returns at regular intervals. And a secured way to save the hard earned money and multiply it without taking a risk. For complete security of funds and returns, investing in a trusted bank that pays good returns on the investment is important .

Providing the comprehensive suite of financial products, Axis bank is one of the most reliable private- sector banks of India. It has a wide network of 2,959 branches and 12,743 ATMs spread across the country. Under the cover of investment, the bank offers the fixed deposit plans for the benefit of the customers willing to get good returns at regular intervals. The Axis Bank fixed deposit interest rates are mentioned below :

Axis Bank FD Interest Rate

The bank provides an interest on the fixed deposits at attractive rates. These rates depend on the period of investment and the investor's category. The bank pays an additional interest of 0.25% to the senior citizens. The highest interest paid by the Axis Bank on domestic fixed deposit is 7.75% p.a. However, the rates are not same for all tenures. To know the interest rate of different investment period, check the interest rate table given below :

A. For Investment Below ₹ 5 Crores (W.E.F. 28/04/2017)

Tenure Interest Rates (in %p.a.)
Below ₹ 1 Crore From ₹ 1 Crore- less than ₹ 5 Crores
7 days - 29 days 3.50 5.50
30 days - 45 days 5.50 5.50
46 days - 60 days 6.00 6.00
61days - less than 3 months 6.00 6.00
3 months - less than 6 months 6.25 6.00
6 months - less than 9 months 6.50 6.25
9 months - less than 1 year 6.75 6.25
1 year - less than 14 months 7.00 6.50
14 months - less than 15 months 7.10 6.50
15 months - less than 18 months 7.00 6.50
18 months - less than 2 year 7.00 6.25
2 years - 10 years 6.75 6.25

Axis Bank FD Interest Rates for Senior Citizens

Tenure Interest Rates (in %p.a.)
Below ₹ 1 Crore From ₹ 1 Crore- less than ₹ 5 Crores
7 days - 29 days 3.50 5.50
30 days - 45 days 5.50 5.50
46 days - less than 3 months 6.00 6.00
3 months - less than 6 months 6.25 6.00
6 months - less than 9 months 6.75 6.50
9 months - less than 1 year 7.00 6.50
1 year - less than 14 months 7.50 7.00
14 months - less than 15 months 7.60 7.00
15 months - less than 18 months 7.50 7.00
18 months - less than 2 years 7.50 6.75
2 years - 10 years 7.25 6.75

B. For Investment More Than ₹ 5 Crores ( W.E.F. 28/04/2017 )

Tenure Interest Rate (%p.a)
7 days – 29 days 5.00
30 days – 45 days 5.50
46 days - less than 6 months 6.00
6 months - less than 1 year 6.25
1 year - less than 18 months 6.50
18 months - 10 years 6.25

The rate of interest on deposits above ₹ 5 Crores remains same for both the general public and the senior citizens.

Axis Bank Fixed Deposit Calculator

The fixed deposit calculator is an online calculator that helps the depositor in calculating the maturity value of the deposit booked. It lets the user know overall hike in the deposited amount at completion of the investment period. It can even be used to compare the interest yield on the deposits of different amount for different periods and can help in deciding the investment amount and tenure.

For Example – A customer books a fixed deposit of ₹ 20,000 for the period of 10 years. He chooses the option of quarterly compounding interest. The interest on the deposit is calculated at the rate of 7.25% per annum. After 10 years his amount will hike to ₹ 41,000.

Table Showing Opening Balance, Interest Earned and Closing Balance

Year Interest Rate (%p.a) Opening Balance (in ₹) Interest Earned (in ₹) Closing Balance (in ₹)
1 7.25% 20,000 1,000 21,000
2 7.25% 21,000 2,000 23,000
3 7.25% 23,000 2,000 25,000
4 7.25% 25,000 2,000 27,000
5 7.25% 27,000 2,000 29,000
6 7.25% 29,000 2,000 31,000
7 7.25% 31,000 2,000 33,000
8 7.25% 33,000 2,000 35,000
9 7.25% 35,000 3,000 38,000
10 7.25% 38,000 3,000 41,000

Methods of Interest Calculation

  • Simple Interest - The interest on the deposit booked for the period lesser than 6 months is calculated at simple interest.
  • Compound Interest - On deposits, remaining with the bank for the period of 6 months and above, the interest is calculated on the quarterly basis. That is, the interest earned in the previous quarter is added to the principal for calculation of interest.

How To Apply For Axis Bank Fixed Deposit

Fill the application form by visiting the nearest Axis Bank branch. Or download the application form from the bank's official website and submit it along with the requisite documents at the branch. Those who want to save the visiting time can even open the FD account online from the comfort of home/ office. For online application the following things are required :

  • Savings account with Axis Bank
  • An i-connect id and password (apply for i-connect id at branch office)
  • Availability of funds in the account at the time of booking the fixed deposit

Steps To Apply Online

  1. Click on the Log in tab.
  2. Enter the login id and password. Click on the submit button.
  3. Select the 'Fixed Deposit Request' option.
  4. Fill in the required account and nominee details.
  5. After confirmation, the selected amount will be debited from the savings account. The web receipt would be generated.
  6. After creation of Fixed Deposit Account, the FD Advice will be mailed on the registered mail id or the physical advice will be delivered to the registered address.

Axis Bank Fixed Deposit Application Form

The Fixed Deposit Account Opening Form can be downloaded from the website. The form comprises of the following fields that are to be mandatorily filled -

  • Name of the applicant, Customer ID and PAN
  • Name of Joint Applicant, Customer ID and PAN
  • Mode of operation
  • Type of deposit account (deposit amount and period, auto -renewal, auto- closure)
  • Interest payout option (monthly, cumulative, quarterly and half- yearly)
  • TDS to be deducted ( A/c no. of the account to be debited)
  • Interest payment (A/c No. of the account to be credited)
  • Payment details ( Deposit amount, mode of payment)
  • Nomination

Eligibility & Documents Required

The documents required depends on the category of the depositor. The table showing the documents required by each of the eligible depositor is given below:

Documentation Table

Eligibility Documents
An Individual, Hindu Undivided Family, Sole Proprietorship Concern
  • A valid passport or a valid driving license
  • An introduction by any other bank or an introduction by an Axis Bank Savings Account holder for the last six months
  • A photograph
Trusts
  • Copy of the Trust Deed
  • Copy of the registration certificate
  • Copy of the Resolution of The Trustees authorising the members concerned to open and operate the account
  • Photographs of the members operating the account
Associations / Clubs
  • By-laws of the Association
  • Copy of the Resolution by the board authorising the members concerned to open and operate the account
  • Photographs of the members operating the account
Partnership Firm
  • Partnership Deed
  • Letter from partners approving the persons concerned to open and operate the account
  • Photographs of the persons operating the account

Features Of Axis Bank Fixed Deposit

  • Book deposit with the minimum amount of ₹ 10,000
  • Flexible range of tenure starting from 7 days to 10 years
  • Additional interest paid to senior citizen
  • Benefit of automatic rollover facility (auto- renewal)
  • Convenience of online booking

Axis Bank Fixed Deposit Plans

The bank offers different FD plans to choose from. The name and details of which are mentioned below :

  • Axis Bank Fixed Deposit Plus
  • Axis Bank Fixed Deposit
  • Axis Bank Tax Saver Fixed Deposit

Fixed Deposit Plus

The customer can open the fixed deposit account with the minimum amount of ₹ 15,00,001 for the tenure ranging from 7 days to 10 years. There is no ceiling on the maximum investment amount. If required, the depositor can withdraw the deposit before the maturity date. However, in such case, the interest will be paid at the penal rates which is 1% below the card rate.

Particulars Details
Minimum Investment Amount ₹ 15,00,001
Maximum Investment Amount No maximum limit
Minimum Tenure 7 days
Maximum Tenure 10 years
TDS As per prevailing Income Tax regulation
Interest Payout Frequency Monthly, quarterly, quarterly compounding
Premature Withdrawal At penal rates, 1% below the card rates
Auto- Renewal Facility Not Applicable

Fixed Deposit

Under this plan, the depositor can book the deposit with the amount as low as Rs. 10,000 and decide the frequency of interest payout. The bank pays interest at the monthly and quarterly intervals. The depositor even has the option to reinvest the interest and get higher returns.

Particulars Details
Minimum Investment Amount ₹ 10,000
Maximum Investment Amount No maximum limit
Minimum Tenure 7 days
Maximum Tenure 10 years
TDS As per prevailing Income Tax regulation
Interest Payout Frequency Monthly, quarterly, quarterly compounding
Premature Withdrawal At penal rates, 1% below the card rates
Auto- Renewal Facility Available

Tax Saver Fixed Deposit

The tax saver plan provides the tax benefits to the fixed deposit account holders, who have invested the maximum of ₹ 1,50,000 for the period of 5 years. The amount invested cannot be withdrawn before the lock-in period of 5 years. The holder of the account has the option to choose from the various interest payout options that are quarterly compounding (reinvestment of interest), quarterly payout or monthly payout.

Particulars Details
Minimum Investment Amount ₹ 100
Maximum Investment Amount ₹ 1,50,000
Tenure 5 years
Lock- In Period 5 years
TDS Subject to Tax Deduction at Source as per Income Tax Act, 1961
Premature Withdrawal Not Permissible

Axis Bank Fixed Deposit Plans Quick Review :

Parameters Fixed Deposit Plus Fixed Deposit Tax Saver Fixed Deposit
Minimum Investment Amount ₹ 15,00,001 ₹ 10,000 ₹ 100
Maximum Investment Amount No maximum limit No maximum limit ₹ 1,50,000
Tenure 7 days -10 years 7 days -10 years 5 years
Interest Rate Senior Citizens – 3.50% p.a. - 7.75% p.a. Others - 3.50% p.a. - 7.25% p.a. Senior Citizens – 3.50% p.a. - 7.75% p.a. Others - 3.50% p.a. - 7.25% p.a. Senior Citizen - 7.75% p.a. Others - 7.25% p.a.
Interest Payout Options Monthly, quarterly, quarterly compounded Monthly, quarterly, quarterly compounded Monthly, quarterly, quarterly compounded
Eligibility - Residents
- Hindu Undivided Families
- Sole Proprietorship Firms
- Partnership Firms
- Limited Companies
- Trust Accounts
- Residents
- Hindu Undivided Families
- Sole Proprietorship Firms
- Partnership Firms
- Limited Companies
- Trust Accounts
- Individuals
- Hindu Undivided Families (HUF)
Auto- Renewal Facility Not Available Available Not Available
Premature Withdrawal Permissible at penal rates Permissible at penal rates Not Permissible