Wednesday, February 8, 2023

Axis Bank FD Rates: General Public is getting 7% Interest, Now

Axis Bank FD Rates: Axis Bank has already given gifts to its customers before the new year. The bank has increased the interest rates on fixed deposits. This decision was taken after RBI’s increase in the repo rate. All other banks are also raising interest rates on fixed deposits. If you have a savings account in Axis Bank, you can get good returns by investing your money in a fixed deposit account.

In the case of Axis Bank, the minimum amount required to open an FD account is Rs 5,000 if done through internet banking or a mobile app and Rs 10,000 if done through a bank branch.

Axis Bank FD Rates

After increasing the repo rate by RBI, Axis Bank will give interest at the rate of 3.50% to 7% for a period of 7 days to 10 years to all its general customers. The bank currently offers an interest rate of 3.50% on fixed deposits maturing in 7 to 45 days and 4% on those maturing in 46 to 60 days. Axis Bank offers a 4.50% interest rate on FDs maturing in 61 days to 6 months and a 5.75% interest rate on FDs maturing in 6 months to 9 months.

After the increase in repo rates by RBI, Axis Bank has increased the rate of all its fixed deposit schemes bank offers an interest rate of 6.00% on fixed deposits maturing in 9 months to less than 1 year.

On FDs maturing in 1 year to less than 2 years, the bank is now offering an interest rate of 6.75%, and on those maturing in 2 years to 10 years, Axis Bank is now offering an interest rate of 7% each.

Must Read this: Axis Bank Personal Loan Interest [email protected]%

Axis Bank FD Rates for Domestic less than 5 crore – General Public

Axis Bank FD Rates
Axis Bank FD Rates: Non-senior citizens can receive a maximum interest rate of 7% on deposits that mature in 2 – 10 years at Axis Bank.
PeriodGeneral Public Axis Bank FD Rates (p.a.)
7 days to 45 days3.50%
46 days < 6 months4.50%
6 months < 9 months5.75%
9 months < 1 years6.00%
1 year to 1 year 4 days6.75%
1 year 5 days to 1 year 24 days6.75%
1 year 25 days < 2 years6.75%
2 years < 30 months7.00%
30 months < 3 years7.00%
3 years < 5 years7.00%
5 years < 10 years7.00%

Note: The interest rates mentioned in the table are effective from 15 December 2022.

Interest rates are subject to change from time to time. Applicable interest rates will be given on the date/time or receipt of the funds by the bank.

Features and Benefits of Axis Bank FD Rates

If you want to open your Fixed Deposit account in Axis Bank, then you should know about the features and benefits of Axis Bank FD Rates.

  • Get the highest interest rate on tenure of 2 years to 10 years. The longer you invest, the more return get.
  • Axis Bank offers days, monthly, quarterly, half-yearly, and yearly interest payout options. You also have the option of a full payout (interest + principal) at the end of the maturity.
  • You can raise a loan against your fixed deposit of up 75% of your invested amount in case of cumulative FD and 60% of your FD in case of non-cumulative FD.
  • Customer can also renew their FD before it matures. The FD can be renewed online through the My account portal and offline by visiting the branch.
  • Axis Bank is always available to help customers with any questions. You can contact bank customer care or write to us with any fixed deposit questions.
  • Returns are guaranteed on the money kept in Fixed Deposit.
  • If you have a savings account with Axis Bank, you can open your Fixed Deposits account easily
  • If you reinvest your money, then you get the benefits of compound interest.
  • Due to the current interest rate, you can double your investment very quickly.
  • The money invested under Fixed Deposits is not exposed to market risk.
  • Within Fixed Deposits, you get a tax saving Fixed Deposits scheme, in which you get an income tax rebate under Section 80C.

Fixed deposits are widely preferred by many as it offers guaranteed returns. When you invest money in fixed deposits, you can grow your savings for a financially secure future. At Axis Bank, you can enjoy attractive FD interest rates that give you guaranteed returns regardless of market risk.

Eligibility Criteria for Axis Bank FD (Axis Bank FD Rates)

The below-mentioned entities and individuals can open an FD account:

  • Resident in India
  • Partnership Firms
  • Sole Proprietorship Firms
  • Hindu Undivided Families (HUF)

Documents Required for Axis Bank FD Rates

The list of documents that must be submitted to open an FD account is mentioned below:

  • Photographs of the individuals who operate the fixed deposit account.
  • Partnership deed in case of Partnership Firm, and letter from the partner stating that the individual can open the account
  • Account holder’s introduction for the last six months.
  • Valid driving license or passport
  • PAN (Permanent Account Number)

Aadhar Card

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