To access the old website
Click Here
Axis Bank’s Recurring Deposit (RD)
A Recurring Deposit (RD) is an excellent way to develop disciplined savings habits while enjoying attractive returns. With regular monthly deposits, you can secure a steady financial future, whether for your dream home, education, or a safety net for unexpected expenses.
Offering flexibility in instalment amounts and tenures, RDs cater to various financial goals, ensuring you get more from your savings. By opting for a plan with a bank that offers competitive interest rates and robust benefits, you grow your wealth and enjoy peace of mind.
Features & Benefits
Build your savings regularly
Recurring Deposits are designed for disciplined savings through fixed monthly instalments.
Read MoreEnjoy benefits with a short minimum tenure
The flexibility of a Recurring Deposit makes it appealing.
Read MoreStay compliant with prevalent tax laws
Tax at source is deducted as per the Income Tax regulations prevalent from time to time.
Read MoreFacility to encash Term Deposits prematurely
A Recurring Deposit offers flexibility for premature withdrawal, ensuring accessibility during financial emergencies.
Read MoreAvoid delayed payments
- For Recurring Accounts opened on or after August 9, 2016, a penalty for default of ₹10 per ₹1,000 per month will be charged on delay in payment of any instalment/s beyond the calendar month.
RD Calculator
If you are looking at options to save and invest some portion of hard-earned money every month but want fixed and secured returns, a bank Recurring Deposit (RD) is a worthwhile avenue.
Maturity Value
3050
- Axis Bank’s Recurring Deposit interest rate (compounded quarterly) gives you the advantage of earning a higher rate of return on your systematic monthly deposits and gain with the benefit of compounding. Open an RD account today! Once you open a bank RD the interest will remain the same for the tenure you have opted for.
- Remember a bank RD/FD can securely generate wealth and add to your financial security and well-being.
Build your savings regularly
Recurring Deposits are designed for disciplined savings through fixed monthly instalments. You can accumulate a substantial amount by contributing regularly over a fixed period. Your returns, including interest, are directly proportional to the deposit amount and tenure.
Enjoy benefits with a short minimum tenure
The flexibility of a Recurring Deposit makes it appealing. You can start saving for as short as six months, ensuring your money works harder even in a brief timeframe.
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.
Facility to encash Term Deposits prematurely
A Recurring Deposit offers flexibility for premature withdrawal, ensuring accessibility during financial emergencies.
For deposits below ₹5 Crores opened or renewed after May 1, 2014, the applicable interest rate will be 1% lower than the card rate or the contracted rate for the period the deposit was held, whichever is lower. Similarly, deposits exceeding ₹5 Crores follow the same structure.
If closed within 14 days of booking, the contracted rate applies for the period held. No premature withdrawal penalties are charged for Non-Resident External (NRE) Term Deposits. While this facility provides liquidity, avoiding withdrawals to maximise your returns is best, maintaining the essence of disciplined savings.
Avoid delayed payments
Recurring Deposit Interest Rates
Axis Bank’s Recurring Deposit interest rate gives you the advantage of earning a higher rate of return on your systematic monthly deposits and gain with the benefit of compounding. Axis Bank provides its customers with the most attractive Recurring Deposit interest rates starting from a minimum tenure of 6 months to a maximum of 10 years.
Click below button to know the Interest Rates of Axis Bank Recurring Deposit.
Eligibility criteria for RD
Individuals and organisations meeting certain conditions can open a Recurring Deposit. Key criteria include:
Documents required for a Recurring Deposit
How to apply for a Recurring Deposit?
Apply for a Recurring Deposit online through internet banking, mobile banking or by simply visiting your nearest Axis Bank branch where our representatives can guide you through the process. Here are the 5 simple steps through which you can apply for Axis Bank’s Recurring Deposit online through Axis Bank’s Internet or Mobile Banking services.
Internet Banking
You can book a Recurring Deposit through any of the below mentioned channels:
- 01
Login to Internet Banking and select the deposit option. Click here to login.
- 02
Click on Create Recurring Deposit
- 03
Fill in the required account and nominee details
- 04
On confirmation, the selected amount will be debited from your savings account and your Recurring Deposit will be created instantly. You will get a web receipt of the Recurring Deposit booked instantly. The value date for opening of the deposit and the rate applicable will be as per the date of request i.e. the day on which the savings account is debited.
- 05
Post creation, the Recurring Deposit Advice will be mailed to your registered e-mail ID if you are registered for an e-statement and if not registered for e-statements, physical advice will be dispatched to your communication address. You will be able to also view the Recurring Deposit advice in Internet Banking after one working day of deposit booking.
Mobile Banking
- 01
Login in to Mobile Banking and select the deposit option
- 02
Select Open RD
- 03
Fill in the required account and nominee details
- 04
On confirmation, the selected amount will be debited from your savings account and your Recurring Deposit will be created instantly. You will get a web receipt of the Recurring Deposit booked instantly. The value date for opening of the deposit and the rate applicable will be as per the date of request i.e. the day on which the savings account is debited.
- 05
Post creation, the Recurring Deposit Advice will be mailed to your registered e-mail id if you are registered for e-statement and if not registered for e-statements, Physical advice will be dispatched to your communication address. . You will be able to also view the Recurring Deposit advice in Internet Banking after one working day of deposit booking.
Branch
Customer can visit their nearest Axis Bank branch to open Recurring Deposit.
Frequently Asked Questions
Yes, interest earned on a Recurring Deposit is taxable. TDS is applicable if the total interest exceeds ₹40,000 (₹50,000 for senior citizens) annually.
Yes, Recurring Deposits can be opened jointly with up to two account holders, depending on the bank’s policies and requirements.
You must deposit a fixed amount each month, as specified during the RD account setup. The amount cannot vary month to month.
Yes, banks require you to have a Savings Account to open and operate a Recurring Deposit for easy fund transfer and management.
Learning Hub
Look through our knowledge section for helpful blogs and articles.
Copyright@ 2025 Axis Bank