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About Axis Bank

Interest Rates

SB(NRE) DEPOSITS W.E.F. NOVEMBER 19, 2005
NRE DEPOSITS W.E.F. September 01, 2008
FCNR(B) DEPOSITS W.E.F. September 01, 2008
RFC DEPOSITS W.E.F. September 01, 2008
NRO DEPOSITS W.E.F. August 21, 2008

INTEREST RATES ON NRI DEPOSITS
Nature of Deposit / Tenor Interest Rates (% p.a.)
NON-RESIDENT EXTERNAL (NRE) DEPOSITS SAVINGS BANK DEPOSITS: 3.50%
1 Year and above but less than 2 Years 3.21
2 Years and above but less than 3 Years 3.31
For 3 Years upto 10 Years 3.63
RFC FIXED DEPOSITS RFC SAVINGS BANK DEPOSIT INTEREST RATE:

1. USD: 3.50%

2. GBP: 3.50%

3. EURO: 2.00%

4. AUD: 4.00%

5. CAD: 2.50%
  USD GBP EURO AUD CAD
30 days to less than 3 months 2.38 4.99 4.39 6.17 2.47
3 months to less than 6 months 2.38 5.14 4.44 6.17 2.52
6 months to 12 months 2.41 5.21 4.49 6.22 2.57
12 months and above but less than 18 months 2.46 5.27 4.58 6.72 2.92
18 months and above but less than 2 years 2.46 5.27 4.58 6.72 2.92
2 years and above but less than 3 years 2.56 4.65 4.13 6.04 2.31
3 years and above but less than 4 years 2.88 4.63 4.03 5.99 2.49
4 years and above but less than 5 years 3.10 4.58 3.98 6.02 2.62
For 5 years only 3.26 4.53 3.93 5.99 2.73
FOREIGN CURRENCY NON-RESIDENT (FCNR) DEPOSITS *
  USD GBP EURO AUD CAD JPY
For 1 year only 2.46 5.27 4.58 6.72 2.92 0.39
Above 1 year but less than 18 months 2.46 5.27 4.58 6.72 2.92 0.39
18 Months and above but less than 2 Years 2.46 5.27 4.58 6.72 2.92 0.39
2 Years and above but less than 3 Years 2.56 4.65 4.13 6.04 2.31 0.27
3 Years and above but less than 4 Years 2.88 4.63 4.03 5.99 2.49 0.36
4 Years and above but less than 5 Years 3.10 4.58 3.98 6.02 2.62 0.44
For 5 years only 3.26 4.53 3.93 5.99 2.73 0.52
 NRO DEPOSITS #    SAME AS THAT OF RESIDENT INTEREST RATES (SENIOR CITIZEN'S INTEREST RATES WOULD NOT BE APPLICABLE)

* Subject to the ceiling of LIBOR/Swap Rates for the relevant period.
* Rates Subject to Change as per market conditions without prior notice.
# TDS is deducted @30% on interest earned on NRO deposits.

* Terms & Conditions for foreclosure of Term Deposit :

FCNR A/c:

ˇ USD- No penalty for individual deposit upto USD 1 million.
ˇ EURO- No penalty for individual deposit upto EURO 1 million.
ˇ GBP - No penalty for individual deposit upto GBP 750,000.
ˇ JPY- No penalty for individual deposit upto JPY 125 million.
ˇ AUD- No penalty for individual deposit upto AUD 1.5 million.
ˇ CAD- No penalty for individual deposit upto CAD 1.5 million.

ˇ For a single deposit amount exceeding the above threshold limit, interest will be for the period upto which the deposit remained with the bank less penalty of 1% for foreclosure.
ˇ No interest payable for foreclosure within a year.

* Above provisions will apply to deposits accepted or renewed on or after February 01, 2003.

NRE TDs:

ˇ No penalty for individual deposits upto Rs.5 Crore wef- November 25, 2002.
ˇ No interest payable for foreclosure within a year.

Interest calculation for FCNR deposit:
Interest is calculated on a 360 days basis. The interest is calculated on a simple interest basis for deposits tenure of 1 year and for further maturity periods / tenure interest is calculated and paid on half yearly compounded basis.

Related links
NRI Deposit Rates
Domestic Deposit Rates
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