Axis Bank FD Rates: Check Latest updated FD Interest Rates, RD Interest Rates, Single Term Deposit Rates for General, NRI & Senior Citizens Online. Highest Rates are 5.75% for general public.
Table of Content
Axis Bank Fixed Deposit Interest Rates Aug 2021
Interest Rates on domestic deposits
|Period||Interest Rates as on Aug 2021|
|General Public||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||3.00||3.00|
|46 days to 60 days||3.00||3.00|
|61 days < 3 months||3.00||3.00|
|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||4.40||4.65|
|1 year < 1 year 5 days||5.10||5.75|
|1 year 5 days < 1 year 11 days||5.10||5.80|
|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|
|13 months < 2 years||5.25||5.90|
|2 years < 30 months||5.50||6.15|
|30 months < 3 years||5.50||6.00|
|3 years < 5 years||5.40||5.90|
|5 years to 10 years||5.75||6.50|
Tax Saver Fixed Deposit Interest Rates
- Investment Amount : Minimum – Rs. 100 to Maximum – Rs. 1,50,000.
- Tenure : 5 year lock-in period.
- Choose the Schemes : Choose between a quarterly compounding/reinvestment of interest scheme, quarterly payout of interest scheme and Monthly payout interest scheme to the designated account of the depositor.
- Two schemes TDGRI (Reinvestment Type) and TDGQI (Quarterly Interest Type).
- Minimum and Maximum Deposit Amount: The minimum deposit amount will be INR 100 or multiples thereof and maximum deposit amount will be INR 150,000
- Lock-in-Period: Since there is an underlying tax advantage u/s 80C of IT Act, there would be a lock in period of at least 5 years on the FD under this scheme.<tr>
- Type of deposit: Two types of deposits are to be offered under the scheme, one providing for quarterly compounding/reinvestment of interest (RIC scheme) and the other providing for quarterly payout of Interest (QIC scheme) to the designated operative account of the depositor.
- Premature closure of Fixed Deposits:. A minimum lock in period of 5 years is stipulated to enable the deposit to be assessed as exempt from taxable income u/s 80C of the IT Act.
- The maturity period of a term deposit receipt of any denomination shall be five years commencing from the date of the receipt.
- No term deposit shall be en-cashed before the expiry of five years from the date of its receipt
- Fixed Deposit Receipt: As per the scheme notification, tax benefits under this scheme are to be claimed through the Fixed Deposit receipt issued by the Bank.
- Tax Deducted at Source: Fixed Deposits with the bank shall be subject to Tax Deduction at source as per Income Tax Act 1961.
- Interest on these term deposits shall be liable to tax under the Act, on the basis of annual accrual or receipt, depending upon the method of accounting followed by the assessee.
- The tax on such interest shall be deducted in accordance with the provisions of section 194A or section 195 of the Act.
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Axis bank offers a deposit scheme interest rates for less than 1 crore for 5 years is 7.25% regular customers and 7.75% for senior citizens of India. A person who invest an amount of Rs 2 lakh for 5 years than the interest earned is Rs 86,452.11 for an interest rate percentage of 7.25 i.e the maturity value will be Rs 2,86,452.11 and for ROI 7.75% the customer would gain a profit of Rs 93,568.57 as the closing balance will be 2,93,568.57 rupees.
Amount : Rs 2,00,000 with an interest rate of 7.25% in the following 5 years.
|Year||Opening Balance||Interest Earned||Closing Balance|
Axis Bank Limited
Bombay Dyeing Mills Compound,
Pandurang Budhkar Marg,
Worli, Mumbai – 400 025
Tel: (022) 2425 2525