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- GIFT City Fixed Deposit
Foreign Currency Deposits at GIFT City IBU
Secure your future with attractive interest rates.
Book Now6 currency options
Attractive interest rates
Seamless digital journey
Partial & full withdrawal digitally
Foreign Currency Deposits at GIFT City IBU
Foreign currency fixed deposits offered by GIFT City - IBU Branch are tailored for Non-Resident Indians (NRIs) to invest and enjoy attractive returns. FDs can be booked both digitally (USD) via Mobile Banking App, open and physically (GBP, CAD, EURO, AUD, and JPY) by contacting the GIFT City - IBU Branch or your Relationship Manager .
Features & Benefits
Seamless and convenient deposit creation:
- Book your USD Deposits with GIFT City via Mobile Banking App, open* Read More
Attractive interest rates with flexible tenure:
- Tenure options available from 7 days to 10 years
Easy premature withdrawals:
- Initiate partial or full premature withdrawal via Mobile Banking App, open*
No currency fluctuations:
- Get an assured return on your Fixed Deposit without the risk of exchange rate fluctuation
Seamless and convenient deposit creation:
- Book your USD Deposits with GIFT City via Mobile Banking App, open*
- To book manually, please get in touch with your Relationship Manager or GIFT City-IBU Branch
(Retail.GiftIBU@axisbank.com)
*Digital channel available for only select NRE Account holders
Attractive interest rates with flexible tenure:
- Tenure options available from 7 days to 10 years
- Premature withdrawal penalty of only 15 bps.
- For more details, click here
Easy premature withdrawals:
- Initiate partial or full premature withdrawal via Mobile Banking App, open*
- Alternatively, please get in touch with your Relationship Manager or GIFT City-IBU Branch
(Retail.GiftIBU@axisbank.com)
*Digital channel available for only select NRE Account holders
- Any Non-Resident Indian (not minor) or Foreign National having existing KYC Compliant active NRE Account held with Axis Bank Limited can apply for GIFT City FD offered by Axis Bank IFSC Banking Unit (IBU) at GIFT City through Mobile Banking App, open*
- Alternatively, please get in touch with your Axis Bank Relationship Manager or GIFT City-IBU Branch (Retail.GiftIBU@axisbank.com) if you are not eligible for the digital booking process
- If you do not hold any existing relationship with Axis Bank India, please reach out to GIFT City IBU Branch at Retail.GiftIBU@axisbank.com
- To view detailed terms and conditions click here.
*Digital channel available for only select Axis Bank India NRE Account holders
For digital process:
- No physical documents required, subject to KYC checks
- Select NRE account holders can directly book FD via Mobile Banking App, open
For physical process:
- Documents required for opening Fixed Deposit with GIFT City-IBU
- Fund transfer related documents
How to book GIFT City FD
Here’s how you can apply for GIFT City FD: via the Mobile Banking App, open
- 01
Log in to your Mobile Banking App, open
- 02
Go to the GIFT City tab and fill in your application
- 03
Remit funds from your overseas bank account to book the FD
Disclaimer: Interest rate applicable will be as per the date of realization of funds by GIFT City Branch Remittance has to be done within 15 days of submitting your application.
How to recharge FASTag
You can recharge your FASTag account through any of the following modes:
- 01
Please fill the forms attached in the documentation section.
- 02
Mail the forms to GIFT City IBU Branch
(Retail.GiftIBU@axisbank.com) - 03
GIFT City Branch will get back to you.
For more details, please reach out to your Relationship Manager or Retail.GiftIBU@axisbank.com
FAQs
The GIFT City FD is a USD fixed deposit product designed for Existing Non-Resident Indians (NRIs), offered by Axis Bank GIFT City IBU.
Key Benefits of GIFT City FD:
- Flexible Tenure (7 days to 10 Years)
- No currency exchange is required during the entire transaction
- Seamless Digital Journey Partial/full pre-mature withdrawal from MB
Currently, only USD deposits can be made digitally.
GIFT City FD can be created for amounts ranging from USD 1,100 to USD 10 million.
Yes, the interest rates for the GIFT City FD may differ from regular NRE fixed deposits as this product is based out of GIFT City branch which is a SEZ (Special Economic Zone).
The interest earned on the GIFT City FD is not subject to tax deduction at source (TDS) in India. However, NRIs may need to check tax rules in their country of residence.
Yes, premature withdrawal of the GIFT City FD is allowed, but it may attract a penalty, i.e. interest paid will be 0.15% (15bps) lower than the rate applied on the start date of deposit (for the tenure for which it remained with bank) or the actual rate of deposit whichever is lower. Your request will be processed within 4-5 working days.
Yes, you can opt for auto-renewal at the application stage itself if not the FD will close at maturity.
Yes, you can nominate a beneficiary for your GIFT City FD. You can do this either at the time of account opening digitally or, if you wish to add a beneficiary during the tenure of the deposit, you must complete the process in person at the branch.
You can remit funds to your GIFT City FD via SWIFT international wire transfer method. Further details will be shared once the application is created.
Interest rates applied will be the rates prevailing on the date of fund realization in Gift City Nostro account. Also, that would be the date on which FD is booked.
Axis Bank IBU does not levy any transaction charges, but correspondent/Nostro bank may do so, which is outside Axis IBU’s jurisdiction.
No, it is not covered in the RBI Deposit insurance scheme.
The interest on deposits is calculated using simple interest method and will be paid out upon maturity.
