Axis Bank Fixed Deposit Plus
The Axis Bank Fixed Deposit Plus plan is created to offer better returns and more flexibility when it comes term deposits. This is a high-value investment plan and the minimum investment that should be made is Rs.15,00,001.
The Fixed Deposit Plus by Axis Bank is a go-to option for lump sum investments. Prospective customers will have the freedom to choose the type of interest computation method and the deposit type, among other parameters.
Axis Bank FD Plus Features & Benefits
- High-Value Investment - When compared to the regular time-deposit scheme, the minimum investment amount is comparatively much higher. This in turn, will only result in higher returns on the investment that is made, giving you a lucrative maturity amount.
- Choose Deposit Type - The investor has the complete freedom to choose the type of deposit plus plan such as short-term FDs, reinvestment plans, or quarterly and monthly payout options.
- Select Interest Computation Method - If the deposit holder chooses to keep the FD for more than 6 months, interest is computed on a quarterly basis. Simple interest will be applicable for those term deposits that are held for less than 6 months.
- Customised Deposit Plans - This type of FD plan will allow the customer to create a tailor-made deposit scheme by choosing a convenient tenure and type of deposit option as per individual financial needs and goals.
Axis Bank Fixed Deposit Plus Interest Rates
Given below are the revised and updated interest rates offered on Axis Bank Fixed Deposit Plus schemes with effect from 28 September 2023:
Tenure | Rs.2 crores to less than Rs.5 crores | Rs.5 crores to less than Rs.10 crores | Rs.10 crores to less than Rs.25 crores | Rs.25 crores to less than Rs.50 crores | Rs.50 crores to less than Rs.100 crores | Rs.100 crores and above |
30 days to 45 days | 5.50 | 5.50 | 5.50 | 5.50 | 5.50 | 5.50 |
46 days to 60 days | 5.75 | 5.75 | 5.75 | 5.75 | 6.80 | 6.80 |
61 days < 3 months | 6.00 | 6.00 | 6.00 | 6.00 | 7.00 | 7.00 |
3 months < 4 months | 6.85 | 6.85 | 6.85 | 7.00 | 7.10 | 7.10 |
4 months < 5 months | 6.85 | 6.85 | 6.85 | 7.00 | 7.00 | 7.00 |
5 months < 6 months | 6.85 | 6.85 | 6.85 | 7.00 | 7.00 | 7.36 |
6 months < 7 months | 7.15 | 7.15 | 7.15 | 7.25 | 7.25 | 7.25 |
7 months < 8 months | 7.15 | 7.15 | 7.15 | 7.25 | 7.25 | 7.25 |
8 months < 9 months | 7.15 | 7.15 | 7.15 | 7.25 | 7.25 | 7.25 |
9 months < 10 months | 7.25 | 7.25 | 7.25 | 7.30 | 7.30 | 7.30 |
10 months < 11 months | 7.25 | 7.25 | 7.25 | 7.30 | 7.30 | 7.30 |
11 months to 11 months 24 days | 7.25 | 7.25 | 7.25 | 7.30 | 7.30 | 7.30 |
11 months 25 days < 1 year | 7.25 | 7.25 | 7.25 | 7.30 | 7.30 | 7.30 |
1 year to 1 year 4 days | 7.50 | 7.45 | 7.45 | 7.45 | 7.65 | 7.65 |
1 year 5 days to 1 year 10 days | 7.45 | 7.45 | 7.45 | 7.45 | 7.65 | 7.65 |
1 year 11 days to 1 year 24 days | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 |
1 year 25 days < 13 months | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 |
13 months < 14 months | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 |
14 months < 15 months | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 |
15 months < 16 months | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 |
16 months < 17 months | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 |
17 months < 18 months | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 |
18 Months < 2 years | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 | 7.45 |
2 years < 30 months | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 |
30 months < 3 years | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 |
3 years < 5 years | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 |
5 years to 10 years | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 | 7.20 |
Eligibility to Open a Fixed Deposit (FD)
- Trusts
- Limited Companies
- Partnership Firms
- Sole Proprietorship Firms
- Hindu Undivided Families
- Residents
Documents Required to Open a Fixed Deposit
- Axis Bank Application Form
- Depositor's photograph (2 copies)
- Identity proof & Address proof as per KYC Norms
- PAN Card copy/ Form 60 or 61
- Aadhaar Card Details
FAQs on Axis Bank Fixed Deposit Plus
- What is the TDS threshold limit in a financial year?
For general citizens, the TDS threshold limit is Rs.40,000 in a financial year while for senior citizens it is Rs.50,000.
- Is the facility of auto-renewal available on Fixed Deposit Plus?
No, the facility of auto-renewal is not available on Fixed Deposit Plus.
- Can the method of interest calculation be selected?
Yes, the method of interest calculation can be selected. You can opt between simple interest and compound interest options.
- What are deposit types available when it comes to Fixed Deposit Plus?
When it comes to Fixed Deposit Plus, you can choose between three types of deposit. They are:
- Short Term Deposits
- Reinvestment Deposits
- Monthly and Quarterly Payout
- Is the interest rate earned every quarter on Axis Bank Fixed Deposit Plus added to the principal amount?
Yes, the interest rate earned every quarter on Axis Bank Fixed Deposit Plus is added to the principal amount. Further interest is calculated on the combined amount.
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