A systematic monthly deposit that would help you earn an interest amount over the investment is known as your Axis Bank RD Rate Scheme. They come with handsome interest rates and predetermined tenures. The least monthly deposit begins at Rs.500 and is eligible for anyone under Indian citizenship. Axis Bank RD Rate varies between 5.75% to 7.59% p.a. with a deposit amount of both less than Rs. 5 Crores and deposits above Rs. 5 Crores.
Start investing for your future with an Axis Bank Recurring Deposit (RD)account with a minimum investment of ₹500 only. Thus, making it accessible to a wide range of investors.
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Axis Bank Recurring Account Interest Rate
Axis Bank offers RDs at attractive interest rates for domestic deposits of up to ₹5 Crores, where you can start investing a minimal amount of ₹500 every month. Here are the Axis Bank recurring account interest rate for deposits up to ₹5 Crores are as follows:
Axis Bank RD Rates for Deposits Under ₹5 Crores
| Tenure | Interest Rate% (p.a) ₹2 Crore Deposits |
Interest Rate% (p.a) < ₹5 Crore Deposits |
|---|---|---|
| 6 months to < 7 months | 5.75% | 6.75% |
| 7 months to < 8 months | 5.75% | 6.75% |
| 8 months to < 9 months | 5.75% | 6.75% |
| 9 months to < 10 months | 6.00% | 6.85% |
| 10 months to < 11 months | 6.00% | 6.85% |
| 11 months to 11 months 24 days | 6.00% | 6.85% |
| 11 months 25 days to < 1 year | 6.00% | 6.85% |
| 1 year to 1 year 4 days | 6.70% | 7.40% |
| 1 year 5 days to 1 year 10 days | 6.70% | 7.40% |
| 1 year 11 days to 1 year 24 days | 6.70% | 7.40% |
| 1 year 25 days to < 13 months | 6.70% | 7.40% |
| 13 months to < 14 months | 6.70% | 7.40% |
| 14 months to < 15 months | 6.70% | 7.40% |
| 15 months to < 16 months | 7.10% | 7.05% |
| 16 months to < 17 months | 7.10% | 7.05% |
| 17 months to < 18 months | 7.20% | 7.05% |
| 18 Months to < 2 years | 7.10% | 7.05% |
| 2 years to < 30 months | 7.10% | 7.00% |
| 30 months to < 3 years | 7.10% | 7.00% |
| 3 years to < 5 years | 7.10% | 7.00% |
| 5 years to 10 years | 7.00% | 7.00% |
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*Note- The interest rates are subject to market rates and may change. Please check Axis Bank’s official website for the latest information.Are you interested in applying for a personal loan?
Axis Bank RD Rates for Deposits Above ₹5 Crores
| Tenure | Interest Rate% (p.a) ₹5 Cr - < ₹25 Cr |
Interest Rate% (p.a) ₹25 Cr - <₹500 Cr |
Interest Rate% (p.a) ₹500 Cr & above |
|---|---|---|---|
| 6 months to < 7 months | 6.75% | 7.20% - 7.25% | 7.20% |
| 7 months to < 8 months | 6.75% | 7.20% | 7.20% |
| 8 months to < 9 months | 6.75% | 7.20% | 7.20% |
| 9 months to < 10 months | 6.85% | 7.25% | 7.25% |
| 10 months to < 11 months | 6.85% | 7.25% | 7.25% |
| 11 months to 11 months 24 days | 6.85% | 7.25% | 7.25% |
| 11 months 25 days to < 1 year | 6.85% | 7.25% | 7.25% |
| 1 year to 1 year 4 days | 7.40% | 7.40% | 7.59% |
| 1 year 5 days to 1 year 10 days | 7.40% | 7.40% | 7.59% |
| 1 year 11 days to 1 year 24 days | 7.40% | 7.40% | 7.40% |
| 1 year 25 days to < 13 months | 7.40% | 7.40% | 7.40% |
| 13 months to < 14 months | 7.70% | 7.40% | 7.40% |
| 14 months to < 15 months | 7.70% | 7.40% | 7.40% |
| 15 months to < 16 months | 7.05% | 7.05% | 7.05% |
| 16 months to < 17 months | 7.05% | 7.05% | 7.05% |
| 17 months to < 18 months | 7.05% | 7.05% | 7.05% |
| 18 Months to < 2 years | 7.05% | 7.05% | 7.05% |
| 2 years to < 30 months | 7.00% | 7.00% | 7.00% |
| 30 months to < 3 years | 7.00% | 7.00% | 7.00% |
| 3 years to < 5 years | 7.00% | 7.00% | 7.00% |
| 5 years to 10 years | 7.00% | 7.00% | 7.00% |
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*Note- The interest rates are subject to market rates and may change. Please check Axis Bank’s official website for the latest information.Don't know your credit score? You can find out for free!
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Axis Bank RD Interest Rate For Senior Citizens
Axis Bank offers recurring deposits for senior citizens at an additional interest rate of 0.50% p.a. providing them financial support during their retirement. The Axis Bank RD rate of interest offered for senior citizens on deposits of under ₹5 Crores are as follows:
| Tenure | Interest Rate% (p.a) ₹2 Crore Deposits |
Interest Rate% (p.a) ₹5 Crore Deposits |
|---|---|---|
| 6 months to < 7 months | 6.25% | 7.25% |
| 7 months to < 8 months | 6.25% | 7.25% |
| 8 months to < 9 months | 6.25% | 7.25% |
| 9 months to < 10 months | 6.50% | 7.35% |
| 10 months to < 11 months | 6.50% | 7.35% |
| 11 months to 11 months 24 days | 6.50% | 7.35% |
| 11 months 25 days to < 1 year | 6.50% | 7.35% |
| 1 year to 1 year 4 days | 7.20% | 7.90% |
| 1 year 5 days to 1 year 10 days | 7.20% | 7.90% |
| 1 year 11 days to 1 year 24 days | 7.20% | 7.90% |
| 1 year 25 days to < 13 months | 7.20% | 7.90% |
| 13 months to < 14 months | 7.20% | 7.90% |
| 14 months to < 15 months | 7.20% | 7.90% |
| 15 months to < 16 months | 7.60% | 7.55% |
| 16 months to < 17 months | 7.60% | 7.55% |
| 17 months to < 18 months | 7.85% | 7.70% |
| 18 Months to < 2 years | 7.60% | 7.55% |
| 2 years to < 30 months | 7.60% | 7.50% |
| 30 months to < 3 years | 7.60% | 7.50% |
| 3 years to < 5 years | 7.60% | 7.50% |
| 5 years to 10 years | 7.75% | 7.75% |
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*Note- The interest rates are subject to market rates and may change. Please check Axis Bank’s official website for the latest information.Axis Bank RD Calculator
Visualise the growth of your savings with the help of an Axis Bank RD calculator. The tool will help you realise the expected returns you could get on your investment amount based on the principal amount, interest rate and tenure.
With this RD calculator, you can estimate different investment amounts, interest rates and tenure to find the right RD option that fits your financial goals.
| RD Maturity Date | : |
| Total Invested Amount | : ₹1,000 |
| Total Interest Earned | : ₹532 |
| Total Maturity Amount | : ₹12,532 |
Comparing RD Interest Rates from Top Banks
| Bank Recurring Deposit | RD Rates (p.a) General Public |
RD Rates (p.a) Senior Citizens |
|---|---|---|
| ICICI Bank RD | 4.75% to 7.20% | 5.25% to 7.75% |
| Axis Bank RD | 5.75% to 7.20% | 6.25% to 7.85% |
| Federal Bank RD | 5.75% to 7.50% | 6.25% to 8.00% |
| Indian Bank RD | 4.50% to 7.25% | 5.00% to 7.75% |
| South Indian Bank RD | 5.00% to 7.40% | 5.50% to 7.90% |
| State Bank of India RD | 6.50% to 7.00% | 7.25% to 7.50% |
| Canara Bank RD | 6.15% to 7.25% | 6.65% to 7.75% |
| Indian Overseas Bank RD | 5.75% to 7.30% | 6.25% to 7.80% |
| Yes Bank RD | 6.10% to 7.75% | 6.60% to 8.25% |
| Union Bank of India RD | 5.75% to 6.50% | 6.25% to 7.00% |
| IDBI Bank RD | 6.25% to 7.00% | 6.75% to 7.50% |
| Punjab National Bank RD | 6.00% to 7.25% | 6.50% to 7.75% |
| City Union Bank RD | 6.25% to 7.00% | 6.50% to 7.50% |
| Bank of Maharashtra RD | 5.50% to 6.25% | 6.00% to 6.75% |
| Jammu and Kashmir Bank RD | 5.75% to 7.10% | 6.25% to 7.60% |
| Bank of Baroda RD | 5.75% to 7.25% | 6.25% to 7.75% |
| IndusInd Bank RD | 7.00% to 7.75% | 7.50% to 8.25% |
| Karur Vysya Bank RD | 6.25% to 7.50% | 6.25% to 8.00% |
| DBS Bank RD | 6.00% to 7.50% | 6.50% to 8.00% |
| HDFC Bank RD | 4.50% to 7.25% | 5.00% to 7.75% |
| Kotak Mahindra Bank RD | 6.00% to 7.40% | 6.50% to 7.90% |
| Bandhan Bank RD | 4.50% to 7.85% | 5.25% to 8.35% |
| Saraswat Bank RD | 7.00% to 7.50% | 7.50% to 8.00% |
| Bank of India RD | 4.50% to 6.00% | 5.00% to 6.50% |
| Dhanalakshmi Bank RD | 6.50% to 7.25% | 6.50% to 7.75% |
| TMB RD | 6.75% to 7.75% | 7.00% to 8.25% |
| Karnataka Bank RD | 5.80% to 7.40% | 6.20% to 7.90% |
| Post Office RD | 6.50% | 6.50% |
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Besides banks, you can also invest in Post Office RD and calculate the return with a post office RD calculator.
Features & Benefits of Axis Bank RD
Axis Bank RDs offer a convenient and secure way to save regularly and earn attractive returns on your investments. The features and benefits of Axis Bank recurring deposit are:
- Flexible Tenure: Axis Bank RD offers flexible tenure options ranging from 6 months to 10 years, helping you reach your financial goals and preferences.
- Competitive Interest Rates: Axis Bank offers competitive interest rates on RDs that range from 5.75% - 7.40% p.a. for deposits under ₹5 Crore and 6.75% - 7.59% p.a. for deposits above ₹5 Crore. Helping you maximise your savings over your chosen tenure.
- Affordable Minimum Deposit: Axis Bank RDs can be opened with a minimum deposit amount of ₹500 only, making it accessible to a wide range of customers.
- Regular Savings: Recurring deposits encourage regular savings by allowing you to deposit a fixed amount each month, helping you build a corpus over time.
- Online Account Opening: Axis Bank provides you the convenience of opening an RD account online through its digital banking platform, making saving easy from the comfort of your own home.
- Premature withdrawal: Premature withdrawal is allowed subject to penalty charges by the bank.
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Axis Bank RD TDS
Axis Bank cuts the Tax Deducted at Source (TDS) on the interest earned from your recurring deposits. The bank will deduct TDS if the total interest you're expected to earn on all your RDs in one financial year exceeds a specific limit. This limit depends on your age:
- Regular Individuals (Below 60): If you're below 60 years old, the threshold is ₹40,000. As long as your total projected interest stays below ₹40,000 for the year, no TDS will be deducted.
- Regular Individuals (Below 60): If you're below 60 years old, the threshold is ₹40,000. As long as your total projected interest stays below ₹40,000 for the year, no TDS will be deducted.
How to Open Axis Bank Recurring Deposit Account?
How to Open Axis Bank Recurring Deposit Account?
Open an Account Through Net Banking
Step 1: Log in to your internet banking account, and choose the deposit option.
Step 2: Click on Recurring Deposit, then choose Create Recurring Deposit.
Step 3: Fill in all the necessary information along with your nominee details as well.
Step 4: The selected amount will be deducted from your account and the RD will be active.
Step 5: After the account is active, you will receive the Recurring Deposit Advice on your email or home address.
Open an Account Through Mobile Banking
Here are the steps you can follow:
Step 1: Log in to your mobile banking account, and then choose a recurring deposit as your option.
Step 2: Select Open RD
Step 3: Fill in the required fields with all the important information along with the nominee’s details.
Step 4: Upon confirmation,your chosen amount will be debited from your account, activating the RD.
Step 5: Once the account is activated, you will receive the Recurring Deposit Advice via email or at your address.
Axis Bank RD Premature Withdrawal
Axis Bank RDs offer premature withdrawal options, offering you flexibility and convenience. Here are the premature withdrawal conditions:
- Interest rates for deposits under Rs. 5 Crores: The interest rates for accounts opened or renewed after May 1, 2014, will be 1% lower than the prevailing card rate or the agreed rate, whichever is lower.
- If a deposit is withdrawn within 14 days of opening: The interest will be calculated at the rate for the actual period held or the agreed rate, whichever is lower.
- For deposits of Rs. 5 Crores or more: The interest rate will be 1% lower than the card rate or the contracted rate, whichever is lower. This also applies to withdrawals made within 14 days.
- There is no penalty for: No penalty is charged for early withdrawal of NRE Term Deposits.
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Frequently Asked Questions
The interest rates for Axis Bank RDs range from 5.75% - 7.40% p.a. for deposits under ₹5 Crore and 6.75% - 7.59% p.a. for deposits above ₹5 Crore.
Yes, the minimum deposit amount required to open an Axis Bank RD account is ₹500.
Yes, you can prematurely withdraw your money from an Axis Bank RD account.
Yes, Axis Bank RDs offer nomination benefits, allowing the account holder to nominate a beneficiary for the RD account.
Yes, Axis Bank offers loans against RDs up to 85% of the deposit amount, with varying interest rates.
RD interest is taxable as per your income slab. The TDS is deducted if the interest exceeds ₹40,000 in a year for general investors and ₹50,000 in a year for senior citizens.
To use the Axis Bank RD calculator, visit the Axis Bank RD calculator website, input details like deposit amount, tenure, and interest rate to calculate RD maturity amount.
No, premature withdrawal from an RD account can only happen under certain circumstances and may incur penalties.
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