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Fixed Deposit Plus
Are you looking for a safe investment option with a higher rate of return for your lump sum savings? Axis Bank’s Fixed Deposit Plus gives you a higher rate of return compared to regular FDs and the option is available to all NRI and domestic customers. The interest rate is available on a simple or compounding basis for a minimum amount of ₹3,00,00,000.
Features & Benefits
Invest high amounts of money
Minimum deposit of ₹3,00,00,000 with no maximum limit. Available for both retail and corporate customers.
Customise your investment tenure
Choose a convenient tenure between 30 days and 10 years. Auto-renewal facility is not available for Fixed Deposit Plus.
Choose your method of interest calculation
Choose between simple interest and compound interest based on your preference.
Single or Joint holder type deposits
- A single-holder deposit receipt can be issued to an individual in their personal capacity or as the Karta of a Hindu Undivided Family (HUF).
Pick your deposit type
- Short Term Deposits
- Reinvestment Deposit
- Monthly and Quarterly Payout Deposits
Single or Joint holder type deposits
Eligibility for Fixed Deposit Plus
Documents required for Fixed Deposit Plus
Interest Rates & Charges
You can opt for simple or compound interest for Fixed Deposit Plus. The Fixed Deposit Plus interest rate earned every quarter is added to your principle amount and further interest is calculated on this combined amount. Click here to know the interest rates on Fixed Deposit Plus for Domestic and NRI
Method of calculation of interest rates on your Fixed Deposits
- For Fixed Deposits with a tenure of 6 months and above, interest is calculated on a quarterly basis.
- Interest earned during the previous quarter is added to the principal for interest calculation. The Fixed Deposit interest rate on this amount is applied every quarter.
- For Fixed Deposit schemes with a tenure of less than 6 months, interest is calculated on a simple interest basis. Please note that the tenure is considered in terms of the number of days.
- If you choose to receive periodic interest payouts on a quarterly basis, interest is calculated and paid quarterly.
- For monthly interest payout options, the applicable Fixed Deposit interest rate will be a discounted rate compared to the standard rate.
Pre-mature payout terms
In case of Term Deposit held jointly, submit a declaration signed by all the holders. This is required in the unfortunate event of death of one of the holders, to enable Axis Bank to pay the maturity proceeds prematurely to the survivor.
Stay compliant with prevalent tax laws
Tax at source is deducted as per the Income Tax regulations prevalent from time to time. TDS in respect of 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. If the total projected interest in a financial year crosses the TDS threshold limit 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.
Important Links
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