Investment Amount
Minimum – ₹ 5,000 | Tenure
Maximum – 10 years | Interest Rate*
Maximum – 5.50% |
With Axis Bank FD Rates, you can earn good returns on investing in the bank’s customer-centric fixed deposit schemes. These FD schemes are designed to provide the customers with the maximum benefit without exposing to market volatilities. Once you’ve invested in an FD, you earn returns throughout the tenure at fixed FD interest rates.
Let’s understand how fixed deposit schemes (Express FD, Tax Saver FD and FD Plus, etc.) by the Axis Bank benefit customers. Along with it, also know the updated Axis Bank FD interest rates.
Table of Contents
Axis Bank FD Interest Rates 2020
- Domestic Deposits below Rs. 2 crore
Tenure | Axis Bank Fixed Deposit Rates (p.a.) | |
| Regular Citizens | Senior Citizens | |
| 7 days to 14 days | 2.50% | 2.50% |
| 15 days to 29 days | 2.50% | 2.50% |
| 30 days to 45 days | 2.50% | 2.50% |
| 46 days to 60 days | 2.50% | 2.50% |
| 61 days < 3 months | 2.75% | 2.75% |
| 3 months < 4 months | 3.50% | 3.50% |
| 4 months < 5 months | 3.50% | 3.50% |
| 5 months < 6 months | 3.50% | 3.50% |
| 6 months < 7 months | 4.40% | 4.65% |
| 7 months < 8 months | 4.40% | 4.65% |
| 8 months < 9 months | 4.40% | 4.65% |
| 9 months < 10 months | 4.40% | 4.65% |
| 10 months < 11 months | 4.40% | 4.65% |
| 11 months < 11 months 25 days | 4.40% | 4.65% |
| 11 months 25 days < 1 year | 5.15% | 5.40% |
| 1 year < 1 year 5 days | 5.15% | 5.80% |
| 1 year 5 days < 1 year 11 days | 5.10% | 5.75% |
| 1 year 11 days < 1 year 25 days | 5.10% | 5.75% |
| 1 year 25 days < 13 months | 5.10% | 5.75% |
| 13 months < 14 months | 5.10% | 5.75% |
| 14 months < 15 months | 5.10% | 5.75% |
| 15 months < 16 months | 5.10% | 5.75% |
| 16 months < 17 months | 5.10% | 5.75% |
| 17 months < 18 months | 5.10% | 5.75% |
| 18 Months < 2 years | 5.25% | 5.90% |
| 2 years < 30 months | 5.40% | 6.05% |
| 30 months < 3 years | 5.40% | 5.90% |
| 3 years < 5 years | 5.40% | 5.90% |
| 5 years to 10 years | 5.50% | 6.00% |
Interest rates effective from 23rd September 2020
- Axis Bank Tax Saving FD Rates
| Tenure | Regular Citizens | Senior Citizens |
| 5 years | 5.50% | 6.00% |
(Interest rates effective from 23rd September 2020)
Axis Bank NRI FD Rates 2020
The bank has the following types of fixed deposit schemes for Non-Resident Indians to park their home-land savings as well as foreign savings:
- NRE Rupee Deposit
- NRO Rupee Deposit
- FCNR Deposit
- NRI Pro Foreign Currency Deposit
- NRI Pro Rupee Deposit
- RFC Term Deposit
- NRI Fixed Deposit Plus
Below-mentioned are the prevailing NRI FD Rates by Axis Bank
- Axis Bank NRE FD Rates
NRE or Non-Resident External FD account is for those NRIs who wish to park their foreign savings in the banks of India. Withdrawals are made in Indian National Rupee or INR. There is a forex-related risk involved. Axis NRE FD is not taxable in India. Below are the current Axis Bank FD rates for the said fixed deposit type:
| Tenure | Interest Rates on NRE Fixed Deposits below Rs. 2 crore |
| 1 year < 1 year 5 days | 5.15% |
| 1 year 5 days < 1 year 11 days | 5.10% |
| 1 year 11 days < 1 year 25 days | 5.10% |
| 1 year 25 days < 13 months | 5.10% |
| 13 months < 14 months | 5.10% |
| 14 months < 15 months | 5.10% |
| 15 months < 16 months | 5.10% |
| 16 months < 17 months | 5.10% |
| 17 months < 18 months | 5.10% |
| 18 months < 2 years | 5.25% |
| 2 years < 30 months | 5.40% |
| 30 months < 3 years | 5.40% |
| 3 years < 5 years | 5.40% |
| 5 years < 10 years | 5.50% |
Note: The above-mentioned Axis Bank FD Rates are applicable with effect from 23rd September 2020.
- Axis Bank NRO FD Rates
NRO or Non-Resident Ordinary FD account is for NRI customers who wish to park their Indian earnings in a fixed deposit account with Indian banks. Since the deposits are made in Indian Rupee, funds in the account are not exposed to forex risks. It is taxable in India. Check the prevailing NRO FD rates below:
Tenure | Axis Bank NRO FD Rates (p.a.) |
| 7 days to 14 days | 2.50% |
| 15 days to 29 days | 2.50% |
| 30 days to 45 days | 2.50% |
| 46 days to 60 days | 2.50% |
| 61 days < 3 months | 2.75% |
| 3 months < 4 months | 3.50% |
| 4 months < 5 months | 3.50% |
| 5 months < 6 months | 3.50% |
| 6 months < 7 months | 4.40% |
| 7 months < 8 months | 4.40% |
| 8 months < 9 months | 4.40% |
| 9 months < 10 months | 4.40% |
| 10 months < 11 months | 4.40% |
| 11 months < 11 months 25 days | 4.40% |
| 11 months 25 days < 1 year | 5.15% |
| 1 year < 1 year 5 days | 5.15% |
| 1 year 5 days < 1 year 11 days | 5.10% |
| 1 year 11 days < 1 year 25 days | 5.10% |
| 1 year 25 days < 13 months | 5.10% |
| 13 months < 14 months | 5.10% |
| 14 months < 15 months | 5.10% |
| 15 months < 16 months | 5.10% |
| 16 months < 17 months | 5.10% |
| 17 months < 18 months | 5.10% |
| 18 Months < 2 years | 5.25% |
| 2 years < 30 months | 5.40% |
| 30 months < 3 years | 5.40% |
| 3 years < 5 years | 5.40% |
| 5 years to 10 years | 5.50% |
Note: The above-mentioned Axis Bank FD Rates are applicable with effect from 23rd September 2020.
- Axis Bank FCNR FD Rates
FCNR (B) or Foreign Currency Non-Resident (Bank) FD Account is designed for those who wish to park their foreign savings in the foreign currency itself in Indian banks. This type of account is maintained in foreign currency only. There is no forex risk involved. It is not taxable in India.
| Tenure | USD | GBP | EURO | AUD | CAD | JPY | |
| Below 5 million | 5 million & above | ||||||
| 1 year but less than 2 years | 0.75 | 0.75 | 0.60 | 0.01 | 0.70 | 0.75 | 0.01 |
| 2 years and above but less than 3 years | 0.75 | 0.75 | 0.60 | 0.01 | 0.70 | 0.75 | 0.01 |
| 3 years and above but less than 4 years | 0.75 | 0.75 | 0.60 | 0.01 | 0.70 | 0.75 | 0.01 |
| 4 years and above but less than 5 years | 0.80 | 0.80 | 0.60 | 0.01 | 0.70 | 0.75 | 0.01 |
| For 5 years only | 0.85 | 0.85 | 0.60 | 0.01 | 0.70 | 0.75 | 0.01 |
(Interest rates, all in %, are effective from 23rd September 2020)
- Axis Bank RFC FD Rates
RFC or Resident Foreign Currency FD Account is for NRIs who have either permanently returned to India or is living in India for a continuous period of 1 year. They can deposit their savings in foreign currency and avail returns on the same. There is no foreign exchange conversion risk involved. The entire fund value is fully repatriable.
| Tenure | USD | GBP | EURO | AUD | CAD | |
| Below 5 million | 5 million & above | |||||
| 30 days to less than 3 months | 0.15 | 0.15 | 0.15 | 0.01 | 0.70 | 0.35 |
| 3 months to less than 6 months | 0.25 | 0.25 | 0.30 | 0.01 | 0.70 | 0.40 |
| 6 months to less than 12 months | 0.50 | 0.50 | 0.45 | 0.01 | 0.70 | 0.40 |
| 12 months and above but less than 2 years | 0.75 | 0.75 | 0.60 | 0.01 | 0.70 | 0.75 |
| 2 years and above but less than 3 years | 075 | 0.75 | 0.60 | 0.01 | 0.70 | 0.75 |
| 3 years and above but less than 4 years | 0.75 | 0.75 | 0.60 | 0.01 | 0.70 | 0.75 |
| 4 years and above but less than 5 years | 0.80 | 0.80 | 0.60 | 0.01 | 0.70 | 0.75 |
| For 5 years only | 0.85 | 0.85 | 0.60 | 0.01 | 0.70 | 0.75 |
(Interest rates, all in %, are effective from 23rd September 2020)
Features & Benefits of Axis Bank Fixed Deposits
Some of the important features of the fixed deposit schemes by Axis Bank are:
- Tenure ranging from 6 days to 10 years, encompassing both short and long term investment goals
- Axis Regular FD: Deposit starts from Rs. 5,000 if booked via Axis Bank Netbanking or Mobile App) and Rs. 10,000 if booked via branch
- Axis Express FD: Deposit of Rs. 5,000 for min. 6 months
- Axis Auto Fixed Deposit: Deposit of Rs. 5,000 for min. 6 months
- Axis FD Plus: Deposit of Rs. 5 crores for 7 days -10 years (for retail & corporate customers)
- Interest compounded on simple interest as well as compound interest basis; depending upon the scheme opted
- Automatic rollover (renewal) facility provided
- Auto-sweep facility available
- Can be availed by individuals as well as non-individuals
Benefits of investing in Axis Bank’s fixed deposit schemes:
- Tax benefits with Tax Saver Fixed Deposit
- Axis Bank FD account can be opened with ease from anywhere and anytime
- Express FD available with 3 minutes processing time without Savings A/c
- Higher returns on a lump sum with Axis Bank Fixed Deposit Plus
- Auto Fixed Deposits let customers get their money from Savings A/c be automatically transferred to Fixed Deposit
Types of Axis Bank Fixed Deposit Schemes
The bank provides as many as 5 fixed deposit schemes fit for a variety of investors. These are:
- Fixed Deposits
- Express FD
- Tax Saver Fixed Deposit
- Fixed Deposit Plus
- Auto Fixed Deposit
Read more about: Types of Axis Bank FD schemes
Who Should Invest in Axis Bank FD?
For basic saving option, the regular FD option is good where you can start investing from Rs. 5,000 only. You can keep it for anywhere between 7 days to 10 years. Another option is to go for Express FD which takes only 3 minutes of your online time. Just keep your PAN card and Aadhaar card with you.
If you wish to save on income tax, go for the Axis Bank Tax Saver FD. In this, you can claim deductions of up to Rs. 1.5 lakh.
If you’re looking for bulk deposits, i.e. big amount at one go, Axis Fixed Deposit Plus will work well. It can be opened with a minimum of Rs. 5 crores. You will also get higher interest rates as compared to the standard card rates.
Senior citizens will get a preferential rate of interest at up to 0.75%.
Axis Bank FD Calculator
Paisabazaar’s FD Calculator can be used to check the interest and maturity amount that the depositor will get at the end of deposit tenure. Customers who want to invest in Axis Bank Fixed Deposit can check the maturity amount and interest earned by providing details like –
- Deposit Amount
- Axis Bank FD Rate
- Deposit Tenure
Premature Withdrawal of Axis Bank FD
Premature withdrawal facility means that the depositor can withdraw the fixed deposit amount before maturity. Fixed Deposit is classified into two types:
- With the premature withdrawal facility
- Without premature withdrawal facility (For instance – Tax Saving FD that comes with a lock-in period of 5 years)
However, individuals who want to make premature withdrawals will be required to pay 1% penalty for the same, which will be charged on the Axis Bank FD Rate.
Axis Bank Loan against FD
Axis Bank provides its customers with the facility of loan against fixed deposit up to 85% of the value of their fixed deposit at attractive interest rates. The minimum loan amount against Axis Bank fixed deposit is Rs. 25,000. Account-holders will be required to pay 2% above their Axis Bank FD Interest Rate.
Suggested Read : Axis Bank Loan Against FD
TDS Implication
The money invested in an Axis Bank fixed deposit is taxable under the rules set by the Income Tax Act, 1961. The bank deducts tax at source before crediting the interest to the account of the depositor.
- Interest earned on fixed deposits attract TDS @ 10% for those who have submitted PAN
- For those who have not provided their PAN details while booking FD, interest is subject to TDS @ 20%
- Depositors who do not have taxable income, i.e. less than Rs. 2.5 lakh per annum can submit Form 15G to avoid TDS (Form 15H for senior citizens)
Important Information Required for Opening Fixed Deposit with Axis Bank
Eligibility Criteria
Individuals who belong to any of the below-mentioned categories are eligible for Axis Bank Fixed Deposit Account:
- Residents
- Hindu Undivided Families
- Sole Proprietorship Firms
- Partnership Firms
- Limited Companies
- Trust Accounts
Note: The documents will differ for individuals and type of entity depending on the eligibility for the same.
Documents Required
For individual, HUF, Sole Proprietorship concern
- Aadhaar, voter ID or any other government ID
- A valid Passport or a valid Driving License
- Last 6 months bank statement
- Passport size photograph
For Trusts
- Copy of the Trust Deed
- Copy of the Registration Certificate
- Copy of the Resolution of the Trustees
- Authorizing the members concerned to open and operate the account
- Photographs of the members operating the account
For Associations/Clubs
- By-laws of the Association
- Copy of the Resolution by the board authorizing the members concerned to open and operate the account
- Passport size photographs
For Partnership Firm
- Partnership Deed
- Letter from partners approving the persons concerned to open and operate the account
- Passport size photographs
Frequently Asked Questions
What is the tenure of Axis Bank fixed deposit account?
The minimum tenure of Axis Bank fixed deposit account is 7 days while the maximum maturity period is set at 10 years.
What is the highest Axis Bank FD interest rate?
Currently, the highest Axis Bank FD interest rate is 5.50%. It is 6.00% for senior citizens (5 years to 10 years).
Can an account holder apply for Axis Bank FD account through Internet Banking?
Yes, account holders can apply for Axis Bank FD account through Internet Banking.
Who all are eligible for Axis Bank FD account?
Following are eligible for Axis Bank FD account:
- Residents
- Hindu Undivided Families
- Sole Proprietorship Firms
- Partnership Firms
- Limited Companies
- Trust Accounts
Does Axis Bank provide an auto-renewal facility?
Yes, a fixed deposit is automatically renewed for the same time period and rate of interest if there are no instructions from the customer.
Axis Bank Fixed Deposit News
| Axis Bank: FD Rates reduced sharply |
| 25th September 2020 Axis Bank, on 23rd September 2020, reduced its FD interest rates by 50 basis points for select deposit terms. Where you can earn 5.15% for a 1 year FD, the returns will reduce by 0.75% or 75 basis for deposits maturing in 6 months to 11 months 25 days. If you go up the ladder from 1-year deposits, you can earn get higher returns by up to 0.35%, i.e. up to 5.50%. |
| Axis Bank FD rates revised |
| 09th October 2019 Due to the recent change in repo rate (by Reserve Bank of India (RBI), Axis Bank has revised interest rates for fixed deposits w.e.f. October 4th, 2019. For the tenure of 11 months 25 days to less than 1 year for deposits below Rs. 2 crores, there has been an increase in the interest rate offered by 10 basis points. Earlier the bank was giving 6.60% ROI whereas now the same has been hiked to 6.70%. Other changes in ROI have been down the slope with 10 to 11.50 bps. |
| Axis Bank launches ‘Express FD’ – A digitally enabled fixed deposit account |
| 01st October 2019 Private money lender, Axis Bank announced the launch of its latest fixed deposit scheme, ‘Express FD’. Doing justice to its name, Express FD can easily be opened online within 3 minutes only. For opening an Express FD account, customers won’t have to open a savings account with Axis Bank, unlike usual schemes. This product has been launched to cater to the needs of young investors who want to enter in short term investments. Making the application process completely digital, the bank has successfully encompassed the tech-savvy investors. Investors can deposit funds in the account using options like net-banking, debit card and UPI. The scheme comes with additional benefits like availing a personal loan, credit card, etc. The FD can be opened for a tenure ranging from 6 to 12 months while the deposit can be kept in the range of Rs. 5,000 – Rs. 90,000. Bank does not charge any issuance fee. Also, no penalties are charged on premature withdrawal of up to 25% of the balance amount. |
| Axis Bank FD rates revised for the second time in the month |
| 25th September 2019 Private sector lender, Axis Bank has revised its FD interest rates with effect from September 25th, 2019. Rates for the tenure of different tenure have been slashed down by up to 40 basis points. Although this revision usually entails only cutting down of FD rates there is an exception to it this time. For FDs maturing in 15 – 29 days, Axis Bank has increased the rate by 50 bps. Earlier the rate was set at 3.50% interest rate whereas now investors can earn 4.00% interest. All the changes will be reflected on senior citizen rates too. |
| Axis Bank Revises Fixed Deposit Interest Rates |
| 10th September 2019 Axis Bank has once again revised its fixed deposit interest rates for deposits below Rs. 2 crores with effect from 10th September 2019. The bank is offering an interest rate of 3.50% to 7.10% for a period of 7 days to 10 years for regular individuals and 3.50% to 7.75% to senior citizens. |
| Axis Bank Revises Fixed Deposit Interest Rates |
| 10th August 2019 Axis Bank has revised its Fixed Deposit interest rates with effect from 10th August 2019 for deposit below Rs. 2 crores. The bank is offering an interest rate from 3.50% to is 7.20% for a period of 7 days to 10 years. The highest interest rate offered by the bank for FDs is 7.20% maturing between 1 year 25 days to less than 14 months. |
| Axis Bank Hikes Interest Rates on Fixed Deposit |
| 01st Jun 2018 After a recent interest rate hike by State Bank of India, Axis Bank has also introduced new fixed deposit tenure of 12 months 5 days to under 12 months 11 days. Deposits of less than Rs. 1 Crore for this tenure will earn interest at the rate of 7.4 per cent. The interest rate on deposits of Rs. 1 crore to less than Rs. 5 crores has been increased to 7.60 per cent. This is the highest rate of interest offered by Axis Bank on its fixed deposits across all tenure. |