Stay compliant with prevalent tax laws
- Tax at source is deducted as per the Income Tax regulations prevalent from time to time. TDS with respect to interest earned on Fixed Deposits is deducted on the basis of the total interest projected on the aggregate of Fixed Deposits of the customer, for the financial year
- Thus, if the total projected interest in a financial year crosses the threashold limit INR 40,000/- (INR 50,000/- for Senior Citizen) in a financial year, TDS is deducted proportionately from the existing fixed deposits at the time of interest application
- This is in accordance with Section 194 A 3 (i) (a) of the Income Tax Act
- For any further clarifications, please contact the base Branch
Withdraw from term deposits easily.
In case of joint Term Deposit, submit a declaration signed by all the holders. In the unfortunate event of the death of one of the holders, this will be required, to enable Axis Bank to pay the maturity proceeds prematurely to the survivor.
*For all new Reinvestment Term Deposits and all existing Reinvestment Term Deposits to be opened / renewed on and after 1st August 2013, interest reinvested would be net of TDS and hence the maturity value would vary to that extent.
Choose the scheme you want
Choose between either quarterly compounding / reinvestment of interest scheme or a quarterly payout of interest scheme or a monthly payout interest scheme to the designated account of the depositor.