फिक्स्ड डिपॉजिट (एफडी)

Start a fixed deposit with minimum investment

• ₹5,000 if booked via Internet Banking or Mobile App
• ₹10,000 if booked via Branch

Avoid premature encashment penalties

• For Rupee Term Deposits of a contracted amount less than ₹5 crores opened/renewed on or after May 1, 2014 (including Flexi Deposits), interest rate will be 1.00% below the card rate, prevailing as on the date of deposit, as applicable for the period the deposit has remained with the bank. However, for Rupee Term Deposits closing within 7 days from the date of booking of the deposit, no interest will be applicable and for Rupee Term Deposits closing within 7-14 days from the date of booking of the deposit, the interest rate will be the rate applicable for the period the deposit has remained with the bank.
• For Rupee Term Deposits of a contracted amount less than ₹5 crores opened/renewed on or after December 15, 2017 (including Flexi Deposits), for the first partial withdrawal with value <= 25% of the Term Deposit’s original principal value, Premature Closure Penalty Rate will not be applicable. For subsequent partial withdrawals, Premature Closure Penalty Rate will be applicable on the entire withdrawal amount. For the partial withdrawal with value > 25% of Term Deposit original principal value, Premature Closure Penalty Rate will be applicable for the entire withdrawal amount. However, for Rupee Term Deposits closing within 14 days from the date of booking of the deposit, the interest rate shall be the rate applicable for the period the deposit has remained with the bank.
• For Rupee Term Deposits of a contracted amount of ₹5 Crores and above, interest rate shall be 1% below the card rate prevailing as on the date of deposit, as applicable for the period the deposit has remained with the bank. This would also be applicable on Rupee Term Deposits closed within 14 days from the date of booking of the deposit.
• There would be no premature withdrawal penalty on NRE Term Deposits

Avail automatic rollover facility

• Only on principal: Only principal is rolled over and interest is credited to a designated account or paid out.
• On principal and interest: Both deposit and interest accrued for the same tenure at the interest rate applicable on maturity date.
• Auto-renewal option is not available for Fixed Deposit Plus, Tax Saver and deposit booked for Other Legal Entities (Cooperative Societies, Partnership, Limited Liability Partner, Trust, Associations, Club, University, Financial Institution)

Method of calculation of interest rates on your Fixed Deposits

• For Fixed Deposits with 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 calculation of interest. Fixed deposit interest rate on this amount is calculated every quarter
• For Fixed Deposit schemes with tenure below 6 months, interest is calculated at simple interest. Please note that the period of the Fixed Deposit is considered in number of days
• Deposits can be booked in completed months only under Interest payout option
• In case you choose to receive the periodic interest payments on a quarterly basis, interest rates is calculated and paid on quarterly basis
• The Fixed Deposit rate applicable for a monthly interest option will be discounted rate over the standard rate

Stay compliant with prevalent tax laws

• Tax at source is deducted as per the Income Tax regulations prevalent from time to time. TDS with respect to 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
• Thus, if the total projected interest in a financial year crosses the threashold limit ₹40,000/- (₹50,000/- for Senior Citizen) 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
• For any further clarifications, please contact the base Branch

Withdraw from term deposits easily.
In case of joint Term Deposit, submit a declaration signed by all the holders. In the unfortunate event of the death of one of the holders, this will be required, to enable Axis Bank to pay the maturity proceeds prematurely to the survivor.
*For all new Reinvestment Term Deposits and all existing Reinvestment Term Deposits to be opened / renewed on and after 1st August 2013, interest reinvested would be net of TDS and hence the maturity value would vary to that extent.