IN THIS ARTICLE
Note a consistent rise in your savings with the Axis Bank deposit schemes. Axis Bank provides four different types of deposits, the fixed deposit, recurring deposit, tax saving fixed deposits, and fixed deposit plus. Each of these deposits has different interest rates and benefits. However, opening any type of deposit is simple and hassle-free. Complete the required documentation, choose the amount you wish to deposit and your deposit is ready. Deposits can be also opened online without having to visit the bank.
Axis Bank Deposits
Axis Bank fixed deposit can be started with a minimum amount of INR 10,000 and there is no maximum limit. Similarly, the tenure for the deposit can be as lows as 7 days to a maximum of 10 years. Axis bank also provides great offers for their customers on Axis Bank Credit Cards and Axis Bank Debit Card.
The Axis Bank tax saver fixed deposit is perfect for those who wish to make long term deposits. The advantage of the tax saving deposits is that the tax earned on the deposits for a period of 5 years will be exempted. The deposit can be made singly or as a joint holder. In the case, of deposits opened jointly, the tax exemption is applicable to only the first person with a valid PAN card. Unlike the fixed deposits, the lock period for the tax saver deposit is five years. The deposit cannot be encased before maturity. If in case you have any issues, for clarifying your query you can contact Axis Bank Customer Care.
Axis Bank provides the corporate and retail customers a new type of deposit the Fixed Deposit Plus providing higher interest rates. The deposit amount should be a minimum of Rs.15 lakhs and there is no maximum limit. Similar to the fixed deposit, the tenure varies from a minimum of 7 days to a maximum of 10 years. The auto renewal feature is not provided for the fixed deposit plus.
Opening any of the deposits is simple and easy. Just deposit the amount in the savings account and it can be easily transferred to fixed deposit whenever required. The deposits can be opened by visiting any of the nearest Axis Bank branch or by online from the comfort of home. Axis Bank Mobile App also use for checking your deposit account. After the fixed deposit is mature, it can be rolled over to the tenure of your choice automatically by providing standing instructions at the time of making the deposit. The instructions provided at the time of making the deposit can be changed any time before the maturation date. Above all, customers can very easily meet the unexpected financial burdens by encasing the deposit before the maturation date without paying any penalties.
Axis Bank Fixed Deposits with Interest Rates
The interest rates on Axis Bank Fixed Deposits vary with the amount and the tenure. The interest rate for deposits valued below Rs.1 crore is in the range of 3.50 to 7.7 percent. The interest rates on deposits valued Rs.1 crore to Rs. 5 crore is in the range of 5.50 to 6.50. The interest rates vary time to time and the customers are suggested to check with the bank before making the deposit to avail the latest benefits and offers. If you are looking for loans at low interest rates then Axis Bank Loans provides all type of loans for their customers.
Axis Bank Recurring Deposit
Axis Bank recurring deposit is the right deposit for those who wish to save regularly especially in small amounts. The recurring deposit allows the users to make a monthly deposit for a fixed deposit that is chosen at the time of opening the deposit. To check your recurrring deposit status use secured Axis Bank Net Banking. The interest rate for the recurring deposit is calculated considering the amount deposited and the tenure. The minimum tenure is six months. With the recurring deposit, it is very important for the customer to make the payments monthly before the due date. A penalty of Rs. 10 per Rs.1000 has to be paid for delay in payment. A delay in payment of even a day will be considered as one month. Checkout ICICI Deposits and HDFC Deposits which are providing best interest for deposits.
FAQ’s Related to Axis Bank
- What is the minimum tenure available for Axis Bank Fixed Deposits?
2. Is there any maximum limit for the deposit amount?
3. What is the eligibility for opening a fixed deposit?
4. What are the documents required to open an Axis Band fixed deposit?