Axis Bank’s Fixed Deposit Rate for 2023: Know the current rates and open an FD

  • Updated on: 22 Feb 2024
  • Published on: 29 Aug 2023
Axis Bank’s Fixed Deposit Rate for 2023: Know the current rates and open an FD

You can start your investment journey by booking an Axis Bank Fixed Deposit with a minimum amount of ₹5,000 and enjoy attractive interest rates. Remember that interest rates vary depending on several factors, such as: 

  • Investment amount
  • Tenure of investment
  • Whether you are a regular citizen or a senior citizen

Given this, it is crucial to know the latest rates before you invest. This will help ensure your investment grows as per your requirements. So, read on to know the Axis Bank Fixed Deposit rates and the benefits of investing in them. 

Interest Rates of Axis Bank Fixed Deposit of Less Than ₹2 Crores

Here is an overview of the Axis Bank FD rates as of January 2024.

TenureRegular Citizens (in % p.a.)Senior Citizens (in % p.a.)
7 days to 14 days3.003.50
15 days to 29 days3.003.50
30 days to 45 days3.504.00
46 days to 60 days4.254.75
61 days < 3 months4.505.00
3 months to 3 months 24 days4.755.25
3 months 25 days < 4 months4.755.25
4 months < 5 months4.755.25
5 months < 6 months4.755.25
6 months < 7 months5.756.25
7 months < 8 months5.756.25
8 months < 9 months5.756.25
9 months < 10 months6.006.50
10 months < 11 months6.006.50
11 months to 11 months 24 days6.006.50
11 months 25 days < 1 year6.006.50
1 year to 1 year 4 days6.707.20
1 year 5 days to 1 year 10 days6.707.20
1 year 11 days to 1 year 24 days6.707.20
1 year 25 days < 13 months6.707.20
13 months < 14 months6.707.20
14 months < 15 months6.707.20
15 months < 16 months7.107.60
16 months < 17 months7.107.60
17 months < 18 months7.107.60
18 Months < 2 years7.107.60
2 years < 30 months7.107.60
30 months < 3 years7.107.60
3 years < 5 years7.107.60
5 years to 10 years7.007.75

Make sure you check the rates before investing, as they may change at the bank’s discretion or if you are investing more than ₹2 crores. 

Also Read: Axis Bank Customer Care Number

Benefits of Investing in an Axis Bank FD

Apart from the attractive rates, here are some of the top advantages you can enjoy: 

  • Easy to Start: You can start on your investment journey conveniently with just ₹5,000 using the Axis Bank mobile app, net banking, or by visiting a nearby bank’s branch
  • Choose Suitable Tenures: You can choose a flexible maturity timeline ranging between 7 days and 10 years that matches your investment goal 
  • Get Periodic Income or Reinvest: With an Axis Bank FD, you can: 
  1. Reinvest to enjoy compound interest and opt for payout at maturity 
  2. Choose periodic payout and access funds at periodic intervals
  • Book a Digital Deposit Quickly: You can book a digital deposit with Axis Bank in just 7 minutes through video KYC without paying any penalty for premature withdrawals

A few other pros of an Axis Bank FD include:

  • It offers a convenient facility to transfer funds from your savings account to book an FD and earn more
  • You can get higher returns with quarterly compounding of interest on FDs with a tenure of more than 6 months 
  • You can enjoy low or no premature withdrawal charges depending on when and how much you withdraw

As you start your investment, keep an eye on your current finances, too. If you need funds for the short term, you can rely on Fibe. Fibe offers an Instant Personal Loan of up to ₹5 lacs at affordable rates and with an easy online application. Download the Fibe Personal Loan App or visit our website to enjoy quick funding with minimal paperwork. 

FAQs on Axis Bank FD Rates in 2024

What is the FD rate of Axis Bank?

As of January 31, 2024, the rates go up to 7.75% per annum. However, they vary depending on several factors, such as: 

  • Investment amount 
  • Investment term 
  • Investor type (senior or non-senior citizen)

You can check the current rates on the bank’s official website.

What is the 7% interest rate at Axis Bank?

You can enjoy an interest of 7% when you book an FD with a tenure ranging between 5-10 years. 

What is the maximum FD amount at Axis Bank?

There is no upper limit for investing in an Axis Bank Fixed Deposit.

Is Axis Bank a safe bank for fixed deposits?

Yes, it is generally considered safe for FD investment for the following reasons:

  • It is an established bank and enjoys an ICRA AAA (Stable) rating 
  • The deposits are secured for up to ₹5 lacs as per DICGC guidelines 

What are the fixed deposit interest rates of Axis Bank for ₹1 lac?

Here are the details of the interest rates as of January 2024:

  • The interest rate depends on the term you choose
  • It ranges between 3.50% and 7.10% for regular citizens
  • It starts from 4.00% and extends up to 7.75% for senior citizens

What are the Axis Bank FD rates in 2024?

Here are the details of the rates:

  • It starts from 3.50%, depending on the investment terms
  • It can extend up to 8.43% for deposits worth more than ₹500 crores 

Can I cancel the Axis Bank FD at any time?

Yes, Axis Bank usually allows early withdrawal of fixed deposits. However, penalty charges or revised interest rates may apply. It’s best to check the exact terms and conditions for cancelling your fixed deposit.


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