Axis Bank FD Review for Resident Indians and NRIs:| North Loop Official Blog
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04 Sep 2020

Axis Bank FD Review for Resident Indians and NRIs:

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Axis Bank- Background and Overview-

Axis Bank is an Indian banking and financial services company, which is the third-largest private sector bank in India. The Bank has multiple branches all over the country, with over 4,528 domestic branches (including extension counters) with 12,044 ATMs and counting. The bank has its headquarters in Mumbai, Maharashtra.

In India, Axis Bank has made a very reputable brand image for itself and many customers bestow their faith upon the bank. The bank offers various services for Indian residents as well as Non-Residents, ranging from mutual funds, portfolio investment schemes, insurance, loans, etc.

Axis bank fixed deposit interest rates:

Before uncovering the axis bank FD rates, let us first get a basic understanding of what Fixed Deposits are.
FDs are one of the safest bank investment schemes, offered by various banks in India. A fixed interest rate is offered on deposits by banks based on the amount of money deposited as well on the duration of the lock-in period or tenure. The tenures as well as the rate of interest vary depending on the bank, yet prove to be one of the safest investment schemes as the principal amount remains untouched.
Conventionally, banks offer a lock-in tenure ranging from 1 year and it goes all the way up to 10 years. The returns can either be collected on a regular basis or entirely at maturity.
Given Below are the ICICI bank fixed deposit rates for Indian residents and Non-Resident Indians(NRI)s
Profile image2: Axis bank fixed deposit interest rates:
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AXIS Bank Fixed Deposit Interest Rates for Indian Residents-

Axis bank offers Fixed deposit tenures varying from 7-14 days all the way up to 5-10 years in the case of Indian Residents.

INTEREST RATES ON DOMESTIC DEPOSITS (Less than 5 crores)
SR.NO.PERIODINTEREST RATES (% P.A.)
DEPOSITS BELOW RS. 2 CROREDEPOSITS OF RS. 2 CRORE< RS.4.91 CRORESDEPOSITS OF RS. 4.91 CRORE < RS.4.92 CRORESDEPOSITS OF RS. 4.92CRORE <RS.5 CRORES
17 days to 14 days2.52.52.52.5
215 days to 29 days2.52.52.52.5
330 days to 45 days2.52.52.52.5
446 days to 60 days2.52.52.52.5
561 days < 3 months2.752.752.752.75
63 months < 4 months42.752.752.75
74 months < 5 months42.752.752.75
85 months < 6 months42.752.752.75
96 months < 7 months4.43.533.5
107 months < 8 months4.43.533.5
118 months < 9 months4.43.533.5
129 months < 10 months4.53.7533.75
1310 months < 11 months4.53.7533.75
1411 months < 11 months 25 days4.53.7533.75
1511 months 25 days < 1 year4.53.7533.75
161 year < 1 year 5 days5.153.7533.75
171 year 5 days < 1 year 11 days5.1543.154
181 year 11 days < 1 year 25 days5.1543.154
191 year 25 days < 13 months5.1543.154
2013 months < 14 months5.1543.154
2114 months < 15 months5.1543.154
2215 months < 16 months5.1543.154
2316 months < 17 months5.1543.154
2417 months < 18 months5.1543.154
2518 Months < 2 years5.2543.154
262 years < 30 months5.44.53.154.5
2730 months < 3 years5.44.53.154.5
283 years < 5 years5.44.53.154.5
295 years to 10 years5.54.53.154.5

AXIS Bank Fixed Deposit Interest Rates for Non-Resident Indians-

In the case of Non-Resident Indians (NRI)s, Fixed deposit tenures vary from a minimum of 1 year all the way up to 5-10 years.

NON-RESIDENT EXTERNAL (NRE) DEPOSITS – LESS THAN 5 CRORES*
INTEREST RATES (% P.A)
SR.NO.PERIOD
DEPOSITS BELOW RS. 2 CROREDEPOSITS OF RS. 2 CRORE< RS.4.91 CRORESDEPOSITS OF RS. 4.91 CRORE < RS.4.92 CRORESDEPOSITS OF RS. 4.92CRORE <RS.5 CRORES
161 year < 1 year 5 days5.1543.154
171 year 5 days < 1 year 11 days5.143.154
181 year 11 days < 1 year 25 days5.143.154
191 year 25 days < 13 months5.143.154
2013 months < 14 months5.143.154
2114 months < 15 months5.143.154
2215 months < 16 months5.143.154
2316 months < 17 months5.143.154
2417 months < 18 months5.143.154
2518 Months < 2 years5.2543.154
262 years < 30 months5.44.53.154.5
2730 months < 3 years5.44.53.154.5
283 years < 5 years5.44.53.154.5
295 years to 10 years5.54.53.154.5

Axis Bank FD- Eligibility Criteria-

The following individuals are eligible to open an NRE/ NRO FD Account:

NRI (Non-Resident Indian)
An Indian citizen residing outside India for the purpose of:

  • -Employment, studies, business or vocation
  • Individual posted in UN organization or official deputed abroad by Government of India or -public sector undertakings
  • Indian nationals who may be Mariners or working on oil rigs or foreign registered airlines


Below are the individuals and groups eligible for a Regular Fixed Deposit-
Residents, Hindu Undivided Families, Sole Proprietorship Firms, Partnership Firms, Limited Companies, Trust Accounts

Axis Bank FD- Documentation-

Indian Residents-
  • A valid Passport or a valid Driving License
  • An introduction by any other bank or an introduction by an Axis Bank Savings Account holder for the last six months
  • A photograph


NRI-

  • Copy of Valid Indian Passport

Proof of NRI status (Any one):
  • Employment Visa
  • Resident Visa
  • Student- Dependent Visa copy or Work Visa
  • Residence Permit (the visa could be either in the passport or given separately or e-visa)

Axis Bank FD rates- Reviews:

Given above are the compiled list of user reviews of the Fixed Deposit schemes offered by AXIS Bank.
What can be inferred from the above is that a lot of people choose Axis Bank FDs over other options because Axis Bank offers easy account opening procedures, lock-in period flexibility, and slightly higher interest rates. But in this case, the risk would be on the higher side being a private sector bank.

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.