Axis Bank Fixed Deposit Interest Rates

Axis Bank FD Interest Rate Details
Interest Rate 2.50% to 6.00%
Interest Calculation Simple or Compound method on monthly or quarterly basis
Deposit Amount
  • Rs. 5000 (online booking) and Rs. 10,000 (booking at branch)
  • Minimum investment amount is Rs. 100 for Tax-saver FD
Tenure Between 7 days and 10 years

Axis Bank Fixed Deposit Interest Rate is between 2.50% and 5.50% for regular customers, and for senior citizens the maximum rate offered is 6.00%. The rate of interest depends on the principal deposit amount, tenure of deposit, age of the customer, type of FD scheme, and other factors. The rates may change from time to time depending on the bank’s policy. You can earn interest on both long-term and short-term FDs. There could be charges for withdrawing prematurely in a few cases. You can opt for a tax-saver FD scheme of 5 years tenure to save income tax up to Rs. 1.50 lacs, as per the conditions under the Section 80(C) of IT Act.

In this post we will discuss about features of Axis Bank Fixed Deposit Interest Rates, method of interest calculation, interest rates for domestic FD, Fixed Deposit Plus, NRI FD Plus, FCNR Deposits, NRI/NRO FD, premature encashment penalties, and frequently asked questions.

Features of Axis Bank Fixed Deposit Interest Rates

Here is a list of Axis Bank FD Interest Rates in India:

  • For domestic deposits less than Rs. 5 crores, the Axis Bank FD interest rate is from 2.50% to 5.50% (for senior citizens, the rate is up to 6.00%). The deposit tenure is from 7 days to 10 years. For deposits of Rs. 5 crores and above, the rate is from 2.50% to 4.25%.
  • For Axis Bank Fixed Deposit Plus (Rs. 5 crores and above), the rate of interest is from 2.50% to 4.40%. The deposit tenure is from 7 days to 10 years.
  • Axis Bank FD rates for Non-residential external (NRE)/NRI deposits (less than Rs. 5 crores) is from 3.00% to 5.50% for tenure 1 year to 10 years tenure. For deposit Rs. 5 crores and above the rate of interest is from 3.00% to 4.25%.
  • For NRO deposits less than Rs. 5 crores the interest rate is from 2.50% to 5.50%.
  • For RFC term deposit in USD, GBP, EURO, CAD, AUD, the rates are from 0.15% to 0.60%, 0.15% to 0.30%, 0.01%, 0.35% to 0.55%, and 0.30% to 0.60%, respectively.
  • For FCNR (B) deposits or Foreign Currency (Non-resident) Deposit (Banks), the rates for USD, EURO, GBP, JPY, CAD, AUD, are from 0.50% to 0.60%, 0.01%, 0.30%, 0.01%, 0.55%, 0.40% to 0.60%, respectively.
  • Axis Bank Fixed Deposit interest rate for NRI deposits/NRE deposits of Rs. 5 crores and above is between 4.15% and 4.40%. The tenure is from 1 year to 10 years.

Method of Interest Calculation on Axis Bank Fixed Deposit

Here is the calculation method of Axis Bank FD rates:

  • Interest is calculated on a quarterly basis for FDs with 6 months tenure and above.
  • For the calculation of interest, the accrued interest from the previous quarter is added to the principal amount. Every quarter, the rate of interest is calculated on this amount.
  • Interest is calculated at simple interest for tenure below 6 months. Do remember that the FD period is taken into account in number of days.
  • Interest is calculated and paid on quarterly rests in case you opt to receive on a quarterly basis the periodic interest payment.
  • For a monthly interest option, the Axis Bank FD interest rate is the discounted rate on the standard rate.

Axis Bank Domestic Fixed Deposit Interest Rates

A) For deposits less than Rs. 5 crores:

Period Interest Rate Per Annum
Rs. 2 crores and up to Rs. 4.91 Crores Below Rs. 2 crores Rs. 4.92 crores up to Rs. 5 crores Rs. 4.91 crores and up to Rs. 4.92 crores
7 days to 14 days 2.50 2.50 2.50 2.50
15 days to 29 days 2.50 2.50 2.50 2.50
30 days to 45 days 2.75 3.00 2.75 2.50
46 days to 60 days 2.75 3.00 2.75 2.50
61 days but less than 3 months 3.00 3.00 3.00 2.60
3 months to 4 months 3.00 3.50 3.00 2.60
4 months to than 5 months 3.00 3.50 3.00 2.60
5 months to 6 months 3.00 3.50 3.00 2.60
6 months to 7 months 3.50 4.40 3.50 2.75
7 months to 8 months 3.50 4.40 3.50 2.75
8 months to 9 months 3.50 4.40 3.50 2.75
9 months to 10 months 3.75 4.40 3.75 2.75
10 months to 11 months 3.75 4.40 3.75 2.75
11 months to 11 months 25 days 3.75 4.40 3.75 2.75
11 months 25 days to 1 year 3.75 5.15 3.75 2.75
1 year to 1 year 5 days 4.00 5.15 4.00 3.00
1 year 5 days to 1 year 11 days 4.00 5.10 4.00 3.00
1 year 11 days to 1 year 25 days 4.00 5.10 4.00 3.00
1 year 25 days to 13 months 4.00 5.10 4.00 3.00
13 months to 14 months 4.00 5.10 4.00 3.00
14 months to 15 months 4.00 5.10 4.00 3.00
15 months to 16 months 4.00 5.10 4.00 3.00
16 months to 17 months 4.00 5.10 4.00 3.00
17 months to 18 months 4.00 5.10 4.00 3.00
18 Months to 2 years 4.00 5.25 4.00 3.00
2 years to 30 months 5.40 4.25 4.25 3.00
30 months to 3 years 4.25 5.40 4.25 3.00
3 years to 5 years 4.25 5.40 4.25 3.00
5 years to 10 years 4.25 5.40 4.25 3.00

B) For seniors (deposits less than Rs. 5 crores):

Period Interest Rate Per Annum
Rs. 2 crores and up to Rs. 4.91Crores Below Rs. 2 crores Rs. 4.92 crores up to Rs.5 crores Rs. 4.91 crores and up to Rs. 4.92 crores
7 days to 14 days 2.50 2.50 2.50 2.50
15 days to 29 days 2.50 2.50 2.50 2.50
30 days to 45 days 2.75 3.00 2.75 2.50
46 days to 60 days 2.75 3.00 2.75 2.50
61 days but less than 3 months 3.00 3.00 3.00 2.60
3 months to 4 months 3.00 3.50 3.00 2.60
4 months to than 5 months 3.00 3.50 3.00 2.60
5 months to 6 months 3.00 3.50 3.00 2.60
6 months to 7 months 3.75 4.65 3.75 3.00
7 months to 8 months 3.75 4.65 3.75 3.00
8 months to 9 months 3.75 4.65 3.75 3.00
9 months to 10 months 4.00 4.65 4.00 3.00
10 months to 11 months 4.00 4.65 4.00 3.00
11 months to 11 months 25 days 4.00 4.65 4.00 3.00
11 months 25 days to 1 year 4.00 5.40 4.00 3.00
1 year to 1 year 5 days 4.65 5.80 4.65 3.65
1 year 5 days to 1 year 11 days 4.65 5.80 4.65 3.65
1 year 11 days to 1 year 25 days 4.65 5.80 4.65 3.65
1 year 25 days to 13 months 4.65 5.80 4.65 3.65
13 months to 14 months 4.65 5.80 4.65 3.65
14 months to 15 months 4.65 5.80 4.65 3.65
15 months to 16 months 4.65 5.80 4.65 3.65
16 months to 17 months 4.65 5.80 4.65 3.65
17 months to 18 months 4.65 5.80 4.65 3.65
18 Months to 2 years 4.65 5.90 4.65 3.65
2 years to 30 months 4.90 6.05 4.90 3.65
30 months to 3 years 4.75 5.90 4.75 3.50
3 years to 5 years 4.75 5.90 4.75 3.50
5 years to 10 years 4.75 5.90 4.75 3.50

C) For deposits of Rs. 5 crores and over:

Period Interest Rate Per Annum
Rs. 10 crores to up to Rs. 24.75 crores Rs. 5 crores to up to Rs. 10 crores Rs. 25 crores to up to Rs. 50 crores Rs. 24.75 crores to up to Rs. 25 crores Rs. 100 crores and above Rs. 50 crores to up to Rs. 100 crores
7 days to 14 days 2.50 2.50 2.50 2.50 2.50 2.50
15 days to 29 days 2.50 2.50 2.50 2.50 2.50 2.50
30 days to 45 days 2.75 2.75 2.75 2.50 2.75 2.75
46 days to 60 days 2.75 2.75 2.75 2.50 2.75 2.75
61 days but less than 3 months 3.00 3.00 3.00 2.60 3.00 3.00
3 months to 4 months 3.00 3.00 3.00 2.60 3.00 3.00
4 months to than 5 months 3.00 3.00 3.00 2.60 3.00 3.00
5 months to 6 months 3.00 3.00 3.00 2.60 3.00 3.00
6 months to 7 months 3.50 3.50 3.50 2.75 3.50 3.50
7 months to 8 months 3.50 3.50 3.50 2.75 3.50 3.50
8 months to 9 months 3.50 3.50 3.50 2.75 3.50 3.50
9 months to 10 months 3.75 3.75 3.75 2.75 3.75 3.75
10 months to 11 months 3.75 3.75 3.75 2.75 3.75 3.75
11 months to 11 months 25 days 3.75 3.75 3.75 2.75 3.75 3.75
11 months 25 days to 1 year 3.75 3.75 3.75 2.75 3.75 3.75
1 year to 1 year 5 days 4.00 4.00 4.00 3.00 4.00 4.00
1 year 5 days to 1 year 11 days 4.00 4.00 4.00 3.00 4.00 4.00
1 year 11 days to 1 year 25 days 4.00 4.00 4.00 3.00 4.00 4.00
1 year 25 days to 13 months 4.00 4.00 4.00 3.00 4.00 4.00
13 months to 14 months 4.00 4.00 4.00 3.00 4.00 4.00
14 months to 15 months 4.00 4.00 4.00 3.00 4.00 4.00
15 months to 16 months 4.00 4.00 4.00 3.00 4.00 4.00
16 months to 17 months 4.00 4.00 4.00 3.00 4.00 4.00
17 months to 18 months 4.00 4.00 4.00 3.00 4.00 4.00
18 Months to 2 years 4.00 4.00 4.00 3.00 4.00 4.00
2 years to 30 months 4.25 4.25 4.25 3.00 4.25 4.25
30 months to 3 years 4.25 4.25 4.25 3.00 4.25 4.25
3 years to 5 years 4.25 4.25 4.25 3.00 4.25 4.25
5 years to 10 years 4.25 4.25 4.25 3.00 4.25 4.25

Axis Bank Fixed Deposit Plus Interest Rates

A) For deposits of Rs. 5 crores and over:

Period Interest Rate Per Annum
Rs. 10 crores to Rs. 25 crores Rs. 5 crores to Rs. 10 crores Rs. 25 crores to Rs. 50 crores Rs. 100 crores and above Rs. 50 crores to Rs. 100 crores
7 days to 14 days 2.50 2.50 2.50 2.50 2.50
15 days to 29 days 2.50 2.50 2.50 2.50 2.50
30 days to 45 days 2.75 2.75 2.75 2.75 2.75
46 days to 60 days 2.75 2.75 2.75 2.75 2.75
61 days but less than 3 months 3.00 3.00 3.00 3.00 3.00
3 months to 4 months 3.10 3.10 3.10 3.10 3.10
4 months to than 5 months 3.10 3.10 3.10 3.10 3.10
5 months to 6 months 3.10 3.10 3.10 3.10 3.10
6 months to 7 months 3.60 3.60 3.60 3.60 3.60
7 months to 8 months 3.60 3.60 3.60 3.60 3.60
8 months to 9 months 3.60 3.60 3.60 3.60 3.60
9 months to 10 months 3.85 3.85 3.85 3.85 3.85
10 months to 11 months 3.85 3.85 3.85 3.85 3.85
11 months to 11 months 25 days 3.85 3.85 3.85 3.85 3.85
11 months 25 days to 1 year 3.85 3.85 3.85 3.85 3.85
1 year to 1 year 5 days 4.15 4.15 4.15 4.15 4.15
1 year 5 days to 1 year 11 days 4.15 4.15 4.15 4.15 4.15
1 year 11 days to 1 year 25 days 4.15 4.15 4.15 4.15 4.15
1 year 25 days to 13 months 4.15 4.15 4.15 4.15 4.15
13 months to 14 months 4.15 4.15 4.15 4.15 4.15
14 months to 15 months 4.15 4.15 4.15 4.15 4.15
15 months to 16 months 4.15 4.15 4.15 4.15 4.15
16 months to 17 months 4.15 4.15 4.15 4.15 4.15
17 months to 18 months 4.15 4.15 4.15 4.15 4.15
18 Months to 2 years 4.15 4.15 4.15 4.15 4.15
2 years to 30 months 4.40 4.40 4.40 4.40 4.40
30 months to 3 years 4.40 4.40 4.40 4.40 4.40
3 years to 5 years 4.40 4.40 4.40 4.40 4.40
5 years to 10 years 4.40 4.40 4.40 4.40 4.40

Axis Bank NRI Fixed Deposit Plus Interest Rates

A) For NRE (Non-Resident External) deposits of Rs. 5 crores and above:

Period Interest Rate Per Annum
Rs. 10 crores to Rs. 25 crores Rs. 5 crores to Rs. 10 crores Rs. 25 crores to Rs. 50 crores Rs. 100 crores to above Rs. 50 crores to Rs. 100 crores
1 year to 1 year 5 days 4.15 4.15 4.15 4.15 4.15
1 year 5 days to 1 year 11 days 4.15 4.15 4.15 4.15 4.15
1 year 11 days to 1 year 25 days 4.15 4.15 4.15 4.15 4.15
1 year 25 days to 13 months 4.15 4.15 4.15 4.15 4.15
13 months to 14 months 4.15 4.15 4.15 4.15 4.15
14 months to 15 months 4.15 4.15 4.15 4.15 4.15
15 months to 16 months 4.15 4.15 4.15 4.15 4.15
16 months to 17 months 4.15 4.15 4.15 4.15 4.15
17 months to 18 months 4.15 4.15 4.15 4.15 4.15
18 Months to 2 years 4.15 4.15 4.15 4.15 4.15
2 years to 30 months 4.40 4.40 4.40 4.40 4.40
30 months to 3 years 4.40 4.40 4.40 4.40 4.40
3 years to 5 years 4.40 4.40 4.40 4.40 4.40
5 years to 10 years 4.40 4.40 4.40 4.40 4.40

Axis Bank NRI Fixed Deposits and FCNR Deposits Interest Rates

A) For FCNR (B) deposits

Period Interest Rate Per Annum
Foreign Currency (Non-resident) Deposit (Banks):
USD EURO GBP JPY CAD AUD
5 million and above Below 5 million
1 year but less than 2 years 0.50 0.50 0.01 0.30 0.01 0.55 0.40
2 years and above but less than 3 years 0.50 0.50 0.01 0.30 0.01 0.55 0.40
3 years and above but less than 4 years 0.50 0.50 0.01 0.30 0.01 0.55 0.40
4 years and above but less than 5 years 0.55 0.55 0.01 0.30 0.01 0.55 0.50
For 5 years only 0.60 0.60 0.01 0.30 0.01 0.55 0.60

B) For RFC Deposit:

RFC Savings Bank Deposits Interest Rates
1. USD: 0.50%  2. EURO: 0.10%  3. GBP: 0.50%  4. CAD: 0.50%  5. AUD: 0.75%
Term Deposits USD EURO GBP CAD AUD
5 million and above Below 5 million
30 days to less than 3 months 0.15 0.15 0.01 0.15 0.35 0.30
3 months to less than 6 months 0.25 0.25 0.01 0.15 0.40 0.30
6 months to less than 12 months 0.30 0.30 0.01 0.15 0.40 0.30
12 months and above but less than 2 years 0.50 0.50 0.01 0.30 0.55 0.40
2 years and above but less than 3 years 0.50 0.50 0.01 0.30 0.55 0.40
3 years and above but less than 4 years 0.50 0.50 0.01 0.30 0.55 0.40
4 years and above but less than 5 years 0.50 0.50 0.01 0.30 0.55 0.40
For 5 years only 0.60 0.60 0.01 0.30 0.55 0.60

C) For Non-Resident External (NRE) deposits of less than Rs. 5 crores:

Period Interest Rate Per Annum
Rs. 2 crores to less than Rs. 4.91 crores Less than Rs. 2 crores Rs. 4.92 crores to less than Rs. 5 crores Rs. 4.91 crores to less than Rs. 4.92 crores
1 year to 1 year 5 days 4.00 5.15 4.00 3.00
1 year 5 days to 1 year 11 days 4.00 5.10 4.00 3.00
1 year 11 days to 1 year 25 days 4.00 5.10 4.00 3.00
1 year 25 days to 13 months 4.00 5.10 4.00 3.00
13 months to 14 months 4.00 5.10 4.00 3.00
14 months to 15 months 4.00 5.10 4.00 3.00
15 months to 16 months 4.00 5.10 4.00 3.00
16 months to 17 months 4.00 5.10 4.00 3.00
17 months to 18 months 4.00 5.10 4.00 3.00
18 Months to 2 years 4.00 5.25 4.00 3.00
2 years to 30 months 4.25 5.40 4.25 3.00
30 months to 3 years 4.25 5.40 4.25 3.00
3 years to 5 years 4.25 5.40 4.25 3.00
5 years to 10 years 4.25 5.50 4.25 3.00

D) For NRO deposits less than Rs. 5 crores

Period Interest Rate Per Annum
Rs. 2 crores to less than Rs. 4.91 crores Less than Rs. 2 crores Rs. 4.92 crores to less than Rs. 5 crores Rs. 4.91 crores to less than Rs. 4.92 crores
7 days to 14 days 2.50 2.50 2.50 2.50
15 days to 29 days 2.50 2.50 2.50 2.50
30 days to 45 days 2.75 3.00 2.75 2.50
46 days to 60 days 2.75 3.00 2.75 2.50
61 days but less than 3 months 3.00 3.00 3.00 2.60
3 months to 4 months 3.00 3.50 3.00 2.60
4 months to than 5 months 3.00 3.50 3.00 2.60
5 months to 6 months 3.00 3.50 3.00 2.60
6 months to 7 months 3.50 4.40 3.50 2.75
7 months to 8 months 3.50 4.40 3.50 2.75
8 months to 9 months 3.50 4.40 3.50 2.75
9 months to 10 months 3.75 4.40 3.75 2.75
10 months to 11 months 3.75 4.40 3.75 2.75
11 months to 11 months 25 days 3.75 4.40 3.75 2.75
11 months 25 days to 1 year 3.75 5.15 3.75 2.75
1 year to 1 year 5 days 4.00 5.15 4.00 3.00
1 year 5 days to 1 year 11 days 4.00 5.10 4.00 3.00
1 year 11 days to 1 year 25 days 4.00 5.10 4.00 3.00
1 year 25 days to 13 months 4.00 5.10 4.00 3.00
13 months to 14 months 4.00 5.10 4.00 3.00
14 months to 15 months 4.00 5.10 4.00 3.00
15 months to 16 months 4.00 5.10 4.00 3.00
16 months to 17 months 4.00 5.10 4.00 3.00
17 months to 18 months 4.00 5.10 4.00 3.00
18 Months to 2 years 4.00 5.25 4.00 3.00
2 years to 30 months 4.25 5.50 4.25 3.00
30 months to 3 years 4.25 5.50 4.25 3.00
3 years to 5 years 4.25 5.50 4.25 3.00
5 years to 10 years 4.25 5.50 4.25

E) For Non-resident External (NRE) deposits of Rs. 5 crores and over:

Period Interest Rate Per Annum
Rs. 10 crores to less than Rs. 24.75 crores Rs. 5 crores to less than Rs. 10 crores Rs. 25 crores to less than Rs. 50 crores Rs. 25.75 crores to less than Rs. 25 crores Rs. 100 crores and above Rs. 50 crores to less than Rs. 100 crores
1 year to 1 year 5 days 4.00 4.00 4.00 3.00 4.00 4.00
1 year 5 days to 1 year 11 days 4.00 4.00 4.00 3.00 4.00 4.00
1 year 11 days to 1 year 25 days 4.00 4.00 4.00 3.00 4.00 4.00
1 year 25 days to 13 months 4.00 4.00 4.00 3.00 4.00 4.00
13 months to 14 months 4.00 4.00 4.00 3.00 4.00 4.00
14 months to 15 months 4.00 4.00 4.00 3.00 4.00 4.00
15 months to 16 months 4.00 4.00 4.00 3.00 4.00 4.00
16 months to 17 months 4.00 4.00 4.00 3.00 4.00 4.00
17 months to 18 months 4.00 4.00 4.00 3.00 4.00 4.00
18 Months to 2 years 4.00 4.00 4.00 3.00 4.00 4.00
2 years to 30 months 4.25 4.25 4.25 3.00 4.25 4.25
30 months to 3 years 4.25 4.25 4.25 3.00 4.25 4.25
3 years to 5 years 4.25 4.25 4.25 3.00 4.25 4.25
5 years to 10 years 4.25 4.25 4.25 3.00 4.25 4.25

Premature Encashment Penalties

The bank may charge a penalty if you request for premature withdrawal on the Fixed Deposit. Here are the charges for the same:

NOTE: No penalties are charged for NRE term deposits.

  • Rupee Term Deposits (including Flexi Deposit) of contacted amount lower than Rs. 5 crores renewed/opened on or later to 1 May, 2014: The interest rate is 1% lower than the card date that existed on the deposit date, and as applicable for the period till the FD was maintained with the bank. Or, it could be the rate is 1% lower than the contracted rate, actually, whichever is lower. But the rate will be as per the period of deposit or that of contracted rate, whichever is lower for Rupee Term Deposits closing in 14 days from the deposit’s booking date.
  • Rupee Term Deposit (including Flexi Deposit) of contracted amount lower than Rs. 5 crores renewed/opened on or later to 15 December, 2017: There is no premature closing penalty for the initial partial withdrawal with value <= 25% of the original principal value of the deposit. For any partial withdrawals thereafter, the premature closure penalty rate will apply on the complete amount withdrawn. Also, this penalty rate will apply on partial withdrawal with > 25% value of original principal value for the entire amount withdrawn. But the rate will be as per the period of deposit or that of contracted rate, whichever is lower for Rupee Term Deposits closing in 14 days from the deposit’s booking date.
  • Rupee Term Deposit of contracted amount Rs. 5 crores and greater: Here, the rate of interest is 1% below the card rate as per the prevailing rate on the deposit date, and as applicable for the time the deposit was maintained with the bank. Or, it could be 1% lower than the contracted rate, whichever is lower. The same is also applicable for deposits closing in 14 days from the booking date of the deposit.

Frequently Asked Questions about Axis Bank Fixed Deposit Interest Rate

Here are the FAQs on interest rate for FD by Axis Bank:

The bank offers up to 90% of the deposit’s value held in its own branch. The rate of interest differs from 3.5% to 6.5%.

The interest income is calculated on monthly or quarterly basis as per your choice. It follows simple or compound interest calculation method.

For senior citizens, the highest rate is 6.00% and the same is 5.50% for regular customers.

There is no tax charged on the principal deposit amount. However, the interest income is taxable as per under the provisions of the Income Tax Act, 1951. If you submit PAN to the bank, then the TDS is 10%, and if PAN Card is not submitted, then the TDS charged is 20%.

You may lose up to 1% interest on the contracted rate on premature withdrawals for relevant fixed deposits.