For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Axis Bank Alters Its Fixed Deposit Interest Rates: What’s New Now?

|

Axis Bank offers a secure investment scheme dubbed as fixed deposit (FD) for its customers where they can make a fixed amount of deposit starting from Rs 5000 through internet banking or mobile banking and Rs 10,000 through bank branch only for a flexible maturity tenure spanning from 7 days to 10 years. On their deposits, customers will get a competitive and fixed rate of return with a plethora of benefits such as automatic roll-out facility, seamless transfer of funds, hassle-free account opening and managing facility, premature withdrawal facility, reinvestment option, and an option to choose interest rate payout option i.e. quarterly compounding / reinvestment of interest or a quarterly payout of interest or a monthly payout. Besides the said benefits, Axis Bank has recently revised interest rates on its fixed deposits which investors must need to look at before making a personal finance decision.

 

Eligibility required to open a fixed deposit account at Axis Bank

Eligibility required to open a fixed deposit account at Axis Bank

Individuals and entities listed below are eligible to open a regular fixed deposit account with Axis Bank.

  • Residents
  • Hindu Undivided Families
  • Sole Proprietorship Firms
  • Partnership Firms
  • Limited Companies
  • Trust Accounts
Documents required to open a fixed account at Axis Bank
 

Documents required to open a fixed account at Axis Bank

While opening a regular fixed deposit account, here are the documents that are required to keep handy according to the official website of Axis Bank:

For individuals, Hindu Undivided Families, and sole proprietorship firms

  • 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

For Trusts

  • Copy of the Trust Deed
  • Copy of the Registration Certificate
  • Copy of the Resolution of Trustees authorising the members concerned to open and operate the account
  • Photographs of the members operating the account

For Associations / Clubs

  • Bye-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

For partnership firms

  • Partnership Deed
  • Letter from partners approving the persons concerned to open and operate the account
  • Photographs of the persons operating the account
How to open a fixed deposit account at Axis Bank?

How to open a fixed deposit account at Axis Bank?

Customers can go through the below 2 ways to open a fixed deposit account online:

Internet banking

  • Visit https://retail.axisbank.co.in/ and sign in to your net banking account using the required credentials such as Login ID, Debit card number or mPIN.
  • Now click on the "Create Fixed Deposit" option and enter the required details.
  • The specified amount will be deducted from your savings account upon confirmation, and your fixed deposit will be opened instantly.
  • Upon successful opening of your fixed deposit account, you will get an online receipt instantly.

Mobile banking

  • Log in to your mobile banking account using the required credentials.
  • Now select the deposit option and select "Open FD".
  • Now enter the required details and upon submission, the specified amount will be deducted from your savings account, and your fixed deposit will be opened instantly.
  • If you have registered for e-statement, the web receipt of your fixed deposit account will be mailed to your registered e-mail id once it has been established.
  • You can easily manage your fixed deposit account through mobile banking post one working day of deposit booking.
Axis Bank Fixed Deposit Interest Rates

Axis Bank Fixed Deposit Interest Rates

For a deposit amount of less than Rs 2 Cr, here are the most recent interest rates on fixed deposits of Axis Bank which are in force from 23.09.2021.

PeriodRegular Interest Rates (in % p.a.)Senior citizens interest rates ( in % p.a.)
7 days to 14 days 2.5 2.5
15 days to 29 days 2.5 2.5
30 days to 45 days 3 3
46 days to 60 days 3 3
61 days < 3 months 3 3
3 months < 4 months 3.5 3.5
4 months < 5 months 3.5 3.5
5 months < 6 months 3.5 3.5
6 months < 7 months 4.4 4.65
7 months < 8 months 4.4 4.65
8 months < 9 months 4.4 4.65
9 months < 10 months 4.4 4.65
10 months < 11 months 4.4 4.65
11 months < 11 months 25 days 4.4 4.65
11 months 25 days < 1 year 4.4 4.65
1 year < 1 year 5 days 5.1 5.75
1 year 5 days < 1 year 11days 5.15 5.8
1 year 11days < 1 year 25days 5.1 5.75
1 year 25 days < 13 months 5.1 5.75
13 months < 14 months 5.1 5.75
14 months < 15 months 5.1 5.75
15 months < 16 months 5.1 5.75
16 months < 17 months 5.1 5.75
17 months < 18 months 5.1 5.75
18 months < 2 years 5.25 5.9
2 years < 30 months 5.4 6.05
30 months < 3 years 5.4 6.05
3 years < 5 years 5.4 6.05
5 years to 10 years 5.75 6.5
Source: Bank Website, W.E.F. 23/09/2021

Read more about: fd fixed deposit investment
Story first published: Tuesday, September 28, 2021, 12:21 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X