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Auto Fixed Deposit
At Axis Bank, we understand that saving up, to invest in a Fixed Deposit may result in you spending the money instead. Axis Bank’s Auto Fixed Deposit links the existing Savings Account to the Fixed Deposit. This facilitates automatic transfer of money in multiples of ₹5,000 to a Fixed Deposit when the balance in the Savings Account crosses ₹25,000. With Auto Fixed Deposit, you can open a Fixed Deposit for a maximum tenure of 5 years or avail short term benefit with a minimum tenure of 6 months.
Features & Benefits
Linked Savings Account & Fixed Deposit
Fixed Deposit is linked to an existing Savings Account which facilitates automatic transfers in multiples of ₹5,000 to a fixed deposit,
Read MoreShort Minimum Tenure
Enjoy benefits of Auto Fixed Deposits with a short minimum tenure of 6 months only.
Avoid Premature Encashment Penalties
- For Rupee Term Deposits of a contracted amount less than ₹5 crores opened/renewed on or after May 1
Enjoy Maximum Liquidity
- Money in the fixed deposit can be accessed easily via a cheque or ATM withdrawals
Auto-renew Facility
Auto Fixed Deposits can be auto-renewed from a minimum of 6 months up to maximum of 5 years
Tax Deduction at Source
Tax is deducted at source as per the Income Tax regulations prevalent from time to time
Read MoreReinvestment Term Deposits
For all new Reinvestment Term Deposits to be opened on and after 1st August, 2013 and all existing Reinvestment Term Deposits that may be renewed on and after 1st August
Read More
Avoid Premature Encashment Penalties
Enjoy Maximum Liquidity
Tax Deduction at Source
Tax is deducted at source as per the Income Tax regulations prevalent from time to time
Linked Savings Account & Fixed Deposit
Fixed Deposit is linked to an existing Savings Account which facilitates automatic transfers in multiples of ₹5,000 to a fixed deposit, when the balance in the Savings Account crosses ₹25,000
Reinvestment Term Deposits
For all new Reinvestment Term Deposits to be opened on and after 1st August, 2013 and all existing Reinvestment Term Deposits that may be renewed on and after 1st August, 2013, interest reinvested would be net of TDS and hence the maturity value would vary to that extent.
Eligibility for Auto Fixed Deposit
Documents required for Auto Fixed Deposit
Download Auto Fixed Deposit application form
To apply for Auto Fixed Deposit, you need to submit the Auto Fixed Deposit declaration form with all the necessary documents at your nearest Axis Bank branch.
Frequently Asked Questions
The minimum lock-in for an Auto Fixed Deposit is 6-months and the maximum tenure can be upto 5 years.
The minimum investment amount for the Auto Fixed Deposit is ₹5,000. Money is debited from your account when your Savings Account balance crosses ₹25,000 and is further debited on multiples of ₹5,000.
To start a Auto Fixed Deposit you must be a Savings Account holder and have a valid PAN card. Additionally, you need to fill out a declaration alongside timely submission of the required documents to complete the application process.
Related Products
Tax Saver Fixed Deposits
Auto Fixed Deposits
Fixed Deposit Plus
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