Open Fixed Deposit

Fixed Deposits (FDs)

Fixed Deposits (FDs) offer a secure and flexible way to grow your savings. With competitive interest rates and a minimum deposit of just ₹5,000, Axis Bank FDs are accessible to investors of all types. You can choose from a variety of deposit tenures ranging from 7 days to 10 years to match your financial goals.

Axis Bank’s digital banking platform makes it easy to open, manage and renew your FDs online. Additionally, you can benefit from an automatic roll-out facility that allows your FD interest to be reinvested or transferred to another account seamlessly.

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Features and benefits of FD

  • Guaranteed returns and minimal risk

    Guaranteed returns and minimal risk

    FDs offer secure and predictable investment options with guaranteed returns.

  • Higher interest rates than Savings Accounts

    Higher interest rates than Savings Accounts

    FDs typically offer significantly higher interest rates compared to Savings Accounts, making them a more lucrative option to grow your savings.

  • Tax-savings benefits

    Tax-savings benefits

    Certain fixed deposits in India offer tax benefits under Section 80C, reducing your taxable income.

  • Convenient and quick opening

    Convenient and quick opening

    Opening an online Fixed Deposit is quick and easy, saving time and effort.

  • Building a relationship with your bank

    Building a relationship with your bank

    Maintaining an FD account can strengthen your relationship with your bank, leading to better deals and services.

  • Suitable for long-term financial goals

    Suitable for long-term financial goals

    Ideal for long and medium-term goals due to higher interest rates.

  • Provides liquidity

    Provides liquidity

    You can avail of loan against FDs, offering liquidity without breaking the deposit before the maturity period.

  • Provides liquidity

    Joint Premature FD Closure

    FD/RD accounts with specific modes of operation can be closed digitally. The Primary Holder must initiate the request, and the Joint Holder must approve it on the same day to close the deposit. This can be done via Internet or Mobile Banking.
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Fixed Deposit Calculator

The Axis Bank FD calculator is a valuable resource for anyone considering a Fixed Deposit scheme. By adding details like the principal amount, interest rate and tenure, you can quickly calculate your estimated maturity value. This tool helps you compare online Fixed Deposit options, understand the impact of compounding and making informed decisions about your savings goals.

Check out our FD Calculator to easily estimate the returns on your fixed deposits.

Type of Customer

Type of Fixed Deposit

Date of Fixed Deposit

Amount Deposit in between 5K to 1.99Cr
5K 1.99Cr

Tenure

YY
MM
DD

FD Maturity Details

Maturity Value rupee
Rate of Interest*

(Indicative interest rates for calculation only. Click hereFor latest interest rates for latest rates.)

Maturity Date
Aggregate
Interest Amount rupee
Open FD

Amount and Interest

Open Fixed Deposit Check Interest Rates
  • Remember that Tax Deducted at Source (TDS) will apply to the interest accumulated, following the current tax rates.
  • The interest rates automatically appear for Resident Deposits below ₹2 Crores.
  • Please note that the interest rates shown are solely for calculation purposes. Click here To view the most recent interest rates, click here.

Fixed Deposit Application Process

Open Bank FD Online in 4 Easy Steps
How to renew your Fixed Deposit?
  • Step 1: Access Axis Bank’s ‘Fixed Deposit’ section, click on ‘Open Digital FD’.
  • Step 2: On the next page, click on the ‘Book FD’ option and add all your details to the pop-up section. Then click on ‘Proceed’.
  • Step 3: You will be directed to the detailed forms and application page.
  • Step 4: Fill in all details for verification and after your KYC video call, your FD will be booked for your investment.
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Renewing your fixed deposit in India is a simple process. Here is a step-by-step guide:

  • Step 1: If you prefer, you can visit your nearest Axis Bank branch or log in to your online banking account.
  • Step 2: Locate the ‘renew Fixed Deposit’ or similar option. Fill out the necessary details, including your FD account number and the amount you would like to reinvest.
  • Step 3: Provide any additional information if required and submit the renewal request.
  • Step 4: We will process your request and upon confirmation, your FD will be renewed for the new specified tenure.

Types of Fixed Deposits

Digital Fixed Deposit

Digital Fixed Deposit

Start an instant FD in just 7 minutes with a video KYC and enjoy the digital convenience offered by Axis Bank.

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Tax-Saver Fixed Deposit

Tax-Saver Fixed Deposit

Avail tax-saving advantages with fund allocation in Tax-Saver Fixed Deposits & save taxes up to ₹ 1.5 Lakhs under Section 80C.

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Fixed Deposit Plus

Fixed Deposit Plus

Earn better interest rates than traditional FD accounts with minimum deposit starting at ₹3 crore.

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Auto Fixed Deposit

Auto Fixed Deposit

Enjoy the liquidity of a Savings Account combined with the high returns of a Fixed Deposit.

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Senior Citizen Fixed Deposit

Senior Citizen Fixed Deposit

Senior citizens benefit from security & stability while enjoying the benefit of higher interest rates.

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How do I choose the right FD?

When selecting which FD to invest in, keep the following factors in mind:

  • Interest Rates - Longer tenure & higher investment amounts fetch higher returns.
  • Premature withdrawal - Lower penalty or premature withdrawal features assist with fund requirement before maturity.
  • Institutional Standing - Check credit ratings & financial position before depositing the amount with the institution.
  • Convenience - Open Online FD for a hassle free & time saving experience.
  • Tenure suitability - Select tenure to match with your financial goals.
Choose the right FD

Interest Rates on Axis Bank Fixed Deposit

Interest Rates on Axis Bank Fixed Deposit

Currently, the interest rate on a Fixed Deposit with Axis Bank ranges between 3.5% and 7.75%, depending on the tenure, deposit amount and customer type.

Interest earned on your FD is fixed for the chosen tenure and is calculated based on the interest rate applicable at the time of deposit.

Interest on Fixed Deposits can be credited to your account at different intervals, based on your chosen payout option – monthly, quarterly, or compounding at maturity. With cumulative FDs, interest is compounded quarterly and paid out at the end of the tenure, helping your investment grow faster. In contrast, non-cumulative FDs allow you to receive regular interest payouts to meet periodic income needs.

FD interest rates are reviewed periodically and may change depending on market conditions and bank policies, but once the deposit is made, your rate remains locked in for the entire term.

View latest Fixed Deposit Interest Rates applicable

Tax impact on Fixed Deposit

Interest earned on Fixed Deposits is taxable under the ‘Income from other sources’ category, with the tax rate determined by your income bracket. Most financial institutions deduct Tax Deducted at Source (TDS) at 10% if the annual interest from FDs exceeds ₹40,000 (₹50,000 for senior citizens).

If you do not provide your PAN, the TDS rate increases to 20%. You can claim a deduction for the TDS paid while filing your income tax return. While some tax-saving FDs offer tax benefits, interest on products like Certificate of Deposit is fully taxable.

Tax impact on Fixed Deposit

Factors that affect FD interest rates

Factors that affect FD interest rates
  • Tenure: FDs of lower tenure offer lower rates while FDs of higher tenure offer higher rates. If you are looking to earn higher returns and do not foresee any immediate need for funds, lock into the highest possible tenure
  • Depositor’s age: Senior citizens i.e. those above 60 years of age usually get a higher interest rate than regular depositors
  • Deposit Amount: Some FDs offer higher interest for higher amounts, such as Fixed Deposit Plus, thereby ensuring secured and higher returns

Fixed Deposit Frequently Asked Questions

An FD or Fixed Deposit is a type of investment where you deposit a lump sum amount with a bank for a fixed period of time. In return, you receive a predetermined interest rate on your investment. FDs are known for their safety and stability, making them a popular choice for those seeking a secure way to grow their savings.

The minimum deposit required to open an Axis Bank Fixed Deposit in India is ₹5000, allowing you to start investing in a Fixed Deposit with a relatively small amount.

Tax-saver FDs offer several distinct features. They provide income tax benefits under Section 80 C but have a mandatory lock-in period of 5 years. While interest earned is taxable, the interest rates remain fixed throughout the tenure.

To know more about Axis Bank’s Tax Saver Fixed Deposit, click here.

Yes, you can partially withdraw from Fixed Deposits. However, this typically comes with a penalty or reduced FD Rates. The exact charges vary depending on the bank, the amount withdrawn and the time remaining until maturity. It is advisable to check with the bank’s specific policies regarding premature withdrawals and partial withdrawals.

The minimum investment period for a Fixed Deposit typically ranges from 7 days to 10 years. However, specific terms may vary depending on the financial institution and the type of FD. For instance, tax-saving FDs often have a mandatory lock-in period of 5 years.

Yes, a Fixed Deposit (FD) can be made in the name of a minor. A parent or guardian can open the FD on behalf of the minor in question. The FD can be used for various purposes, such as saving for the minor’s education or future expenses. However, it is important to note that minors cannot withdraw funds from the FD until they reach the age of 18.

Yes, you can typically get an overdraft facility against your Fixed Deposit. This allows you to borrow funds against the value of your FD without breaking it. However, the eligibility criteria and the interest rates may vary depending on the type of FD.

Axis Bank offers Fixed Deposit tenures ranging from 7 days to 10 years, allowing you the flexibility to choose a term that aligns with your financial goals and risk appetite. Interest rates on Axis Bank Fixed Deposit Schemes vary based on the tenure and the type of FD chosen.

Yes, you can generally withdraw from your regular or online Fixed Deposit before maturity. However, you may be charged with a penalty for early withdrawal. Hence, it is essential to check the terms and conditions of your specific Fixed Deposit agreement to understand the exact penalties that may apply.

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