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

Published on: 29 August 2023

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

The fixed deposit rates of Axis Bank change based on whether you are a senior citizen or a regular investor. It also depends on your investment duration and amount. Axis Bank is an award-winning financial institution which offers some of the best FD rates. 

Fixed deposits are one of the safest and easiest ways to grow your money. After all, the return rate of the fixed deposit remains constant despite market fluctuations, keeping your invested corpus risk-proof.

This is why locking in your funds at the best rate gives you high returns. Axis Bank offers an interest rate of 7.85% to senior citizens. This is 0.75% higher than the interest rate for other investors, which stands at 7.10%. The interest rate hike for seniors differs based on the FD tenure and amount, so check the rates before you finalise your investment in case you are investing on behalf of a senior. 

You can start investing in an Axis Bank fixed deposit with just ₹5,000. This makes investing easy even if you don’t have huge savings.

Read on to learn more about the FD rate of Axis Bank for different amounts and timelines and plan your investment for the future. 

Fixed deposit interest rates of Axis Bank for deposits less than ₹2 crores

Investing in an FD for different tenures gives different rates of return. The table below gives you the FD rates of Axis Bank as of August 2023.

TenureFD Interest Rates for Regular Citizens (in %)FD Interest Rates for Senior Citizens (in %)
7 days to 14 days3.503.50
15 days to 29 days3.503.50
30 days to 45 days3.503.50
46 days to 60 days4.004.00
61 days < 3 months4.504.50
3 months < 4 months4.754.75
4 months < 5 months4.754.75
5 months < 6 months4.754.75
6 months < 7 months5.756.00
7 months < 8 months5.756.00
8 months < 9 months5.756.00
9 months < 10 months6.006.25
10 months < 11 months6.006.25
11 months to 11 months 24 days6.006.25
11 months 25 days < 1 year6.006.25
1 year to 1 year 4 days6.757.50
1 year 5 days to 1 year 10 days6.807.55
1 year 11 days to 1 year 24 days6.807.55
1 year 25 days < 13 months6.807.55
13 months < 14 months7.107.85
14 months < 15 months7.107.85
15 months < 16 months7.107.85
16 months < 17 months7.107.85
17 months < 18 months7.107.85
18 Months < 2 years7.107.85
2 years < 30 months7.057.80
30 months < 3 years7.007.75
3 years < 5 years7.007.75
5 years to 10 years7.007.75

Do remember that the FD rate of Axis Bank may change at the bank’s discretion. Make sure you check before investing. Also, if you plan to invest more than ₹2 crores, note that the rates are different. 

So, check the latest rates of Axis Bank and forecast your returns before you proceed. 

Also Read: Axis Bank Customer Care Number

Benefits of investing in an Axis Bank FD

Apart from the attractive fixed deposit rates of Axis Bank, there are many other benefits you can enjoy when you invest. They include the following. 

  • Easy to start: You can start on your investment journey with just ₹5,000 using either the Axis Bank mobile app or net banking. Both online modes are simple, giving you a convenient way to book your FD. In case you want to book an FD in person, you can visit one of the 4,903 branches of Axis Bank and start your investment with ₹10,000.
  • Choose suitable tenures based on your needs: You can choose a short maturity timeline of only 7 days or invest up to 10 years. This flexibility allows you to match your FD duration to your goals. 
  • Get periodic income or reinvest: With an Axis Bank FD, you can earn more by choosing a reinvestment deposit. This is a cumulative FD where your interest is compounded and you can access your payout at maturity. 
  • Book a digital deposit quickly and enjoy zero penalty: You can book a digital deposit with Axis Bank in just 7 minutes through video KYC. Another advantage is that you do not have to pay any penalty for premature withdrawals. 

Some of the other pros of an Axis Bank FD include:

  • It’s 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 that exceed the duration of 6 months. 
  • You can access your earnings at regular intervals with quarterly or monthly payouts. 

As you start off your investment, keep an eye on your current finances too. If you need funds for the short term, you can rely on Fibe. Get an Instant cash loan of up to ₹5 lakhs with an easy online application on our Personal Loan App or website. 

FAQs on Axis Bank FD rates in 2023

What is the FD rate of Axis Bank?

The fixed deposit interest rates of Axis Bank vary depending on the term you choose. You can check the current FD interest rates of Axis Bank for the year 2023 on the official website.

What is the 7% interest rate at Axis Bank?

You can book an FD at Axis Bank and get an interest rate of 7% on FDs for 30 months to 10 years as a regular citizen.  

What is the maximum FD amount at Axis Bank?

You can invest ₹100 crores or more in an Axis Bank FD. There is no upper limit. 

Is Axis Bank a safe bank for fixed deposits?

Yes, Axis Bank is generally considered safe for fixed deposits, which enjoys an ICRA AAA (Stable) rating. It is an established bank and your fixed deposits are secured up to ₹5 lakhs as per DICGC guidelines. 

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

The interest rate of a fixed deposit of ₹1 lakh of Axis Bank as of August 2023 starts at 3.50% and goes up to 7.10% for regular investors, based on the chosen tenure. 

What are the Axis Bank FD rates in 2023?

FD interest rates for Axis Bank in 2023 vary over time. To get accurate and up-to-date information, check the official website or app. As of August 2023, the higher FD rates Axis Bank offers go up to 7.85%. 

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 is best to check the exact terms and conditions for cancelling your fixed deposit.

Category : Banking

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