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Interest Rates

NRE DEPOSITS (TERM)	W.E.F. February 01, 2012
FCNR(B) DEPOSITS	W.E.F. February 01, 2012
RFC DEPOSITS	W.E.F. February 01, 2012
NRE DEPOSITS (SAVINGS)	W.E.F. May 03, 2011

INTEREST RATES ON NRI DEPOSITS
NON-RESIDENT EXTERNAL (NRE) TERM DEPOSITS (on deposit below Rs 1 Crore)
Tenure	Deposits Below Rs. 15 Lakhs. (%p.a.)	Deposits Rs. 15 Lakhs < 50 Lakhs (%p.a.)	Deposits Rs. 50 Lakhs < 1 Crores (%p.a.)	Annualized Rate Per Annum (Compounded Quarterly)
1 year < 13 months	9.40%	9.40%	9.40%	9.74%
13 months < 14 months	9.40%	9.40%	9.40%	9.74%
14 months < 15 months	9.40%	9.40%	9.40%	9.74%
15 months < 16 months	9.40%	9.40%	9.40%	9.74%
16 months < 17 months	9.40%	9.40%	9.40%	9.74%
17 months < 18 months	9.40%	9.40%	9.40%	9.74%
18 months < 2 years	9.40%	9.40%	9.40%	9.74%
2 years < 30 months	9.40%	9.40%	9.40%	9.74%
30 months < 3 years	9.40%	9.40%	9.40%	9.74%
3 years < 5 years	9.50%	9.50%	9.50%	9.84%
5 years up to 10 years	9.50%	9.50%	9.50%	9.84%
For Special Attractive Interest Rates for Deposits above Rs. 1 Crores, please contact your NRI Relationship Manager or nearest Axis Bank branch.
NRE SAVINGS BANK DEPOSIT – 4.00 % p.a.
RFC SAVINGS BANK DEPOSIT	USD	GBP	EURO	AUD	CAD
INTEREST RATE (% p.a.)	0.50	0.75	0.50	0.75	0.50

RFC FIXED DEPOSITS	USD	GBP	EURO	AUD	CAD
30 days to less than 3 months	2.27	2.86	2.79	5.58	2.67
3 months to less than 6 months	2.27	3.01	2.84	5.58	2.72
6 months to less than 12 months	2.30	3.08	2.89	5.63	2.77
12 months and above but less than 18 months	2.35	3.14	2.98	6.13	3.12
18 months and above but less than 2 years	2.35	3.14	2.98	6.13	3.12
2 years and above but less than 3 years	1.78	2.49	2.42	5.09	2.44
3 years and above but less than 4 years	1.87	2.51	2.50	5.13	2.50
4 years and above but less than 5 years	2.06	2.63	2.66	5.37	2.61
For 5 years only	2.30	2.75	2.85	5.50	2.75

FOREIGN CURRENCY NON-RESIDENT (FCNR) DEPOSITS *	USD	GBP	EURO	AUD	CAD	JPY
For 1 year only	2.35	3.14	2.98	6.13	3.12	1.80
Above 1 year but less than 18 months	2.35	3.14	2.98	6.13	3.12	1.80
18 Months and above but less than 2 Years	2.35	3.14	2.98	6.13	3.12	1.80
2 Years and above but less than 3 Years	1.78	2.49	2.42	5.09	2.44	1.62
3 Years and above but less than 4 Years	1.87	2.51	2.50	5.13	2.50	1.63
4 Years and above but less than 5 Years	2.06	2.63	2.66	5.37	2.61	1.67
For 5 years only	2.30	2.75	2.85	5.50	2.75	1.72

* Rates Subject to Change as per market conditions without prior notice.
#TDS is deducted @ 30% + education cess on interest earned on NRO deposits

* Terms & Conditions for foreclosure of Term Deposit :

FCNR A/c:

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

· 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.
· 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:

· No penalty for individual deposits upto Rs.5 Crore wef- November 25, 2002.
· 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.

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Interest Rates