Axis Bank Recurring Deposit Interest Rates 2025
Axis Bank's Recurring Deposit helps you build savings through systematic monthly deposits. You can start with a minimum amount of Rs 500 and earn interest based on the deposit amount and tenure.
Axis Bank Recurring Deposit is a good way to start saving money every month. You can open a recurring deposit account with the Axis Bank for tenures ranging from 6 months to 120 months (10 years).
Axis Bank Recurring Deposit Interest Rates
The interest rates offered by Axis Bank on its recurring deposit schemes are listed in the table below:
Tenure | Regular Interest Rates (p.a.) |
6 months to less than 7 months | 5.75% |
7 months to less than 8 months | 5.75% |
8 months to less than 9 months | 5.75% |
9 months to less than 10 months | 6.00% |
10 months to less than 11 months | 6.00% |
11 months to less than 11 months 24 days | 6.00% |
11 months 25 days to less than 1 year | 6.00% |
1 year to 1 year 5 4 days | 6.70% |
1 year 5 days to 1 year 10 days | 6.70% |
1 year 11 days to 1 year 24 days | 6.70% |
1 year 25 days to less than 13 months | 6.70% |
13 months to less than 14 months | 6.70% |
14 months to less than 15 months | 6.70% |
15 months to less than 16 months | 7.25% |
16 months to less than 17 months | 7.25% |
17 months to less than 18 months | 7.25% |
18 Months to less than 2 years | 7.25% |
2 years to less than 30 months | 7.10% |
30 months to less than 3 years | 7.10% |
3 years to less than 5 years | 7.10% |
5 years to less than 10 years | 7.00% |
Note: The mentioned interest rates are for deposits below Rs.2 crore. These interest rates are effective from 10 September 2024 and can be changed as per bank’s rules and regulations.
Also, Check - FD Interest Rates
Key Highlights of Axis Recurring Deposits
Minimum Deposit Amount | Min: Rs.500 |
Tenure | Min: 6 months Max: 10 years |
Additional Interest Rate for Senior Citizen | Up to 0.65% |
TDS on RD | Applicable |
Premature Withdrawal | Allowed |
Late Penalty | Rs.10 per Rs.1000 per month |
How to Open an RD Account in Axis Bank
You can open a recurring deposit account with Axis Bank in three ways:
- By visiting the branch
- Through net banking
- Through mobile banking
Opening an Axis Bank RD Account through Net Banking
Follow the steps mentioned below to open an Axis Bank RD account through net banking:
Step 1: Open the Axis Bank net banking portal.
Step 2: Log-in to your account and select ‘Create Recurring Deposit’ from the deposit option.
Step 3: Fill in the details asked and give the information of your nominee.
Step 4: Next click the confirmation button.
Step 5: After confirmation, your RD account will be created instantly and the set amount will be deducted from your bank account.
Opening an Axis Bank RD Account through Mobile Banking
The steps mentioned below explain how you can open an Axis bank RD account through mobile banking :
Step 1: Open the Axis Bank mobile banking portal.
Step 2: Log-in to your account and select the ‘Open RD’ option.
Step 3: Fill in all the required details including the nominee information.
Step 4: Then click the ‘Submit’ button.
Step 5: Upon submission your RD account will be created and the required money will be debited from your savings account.
Documents Required to Open Axis Bank RD Account
The documents required to open an Axis Bank RD account are mentioned below :
- Valid ID card
- RD application form (if applying from branch)
- 2 passport size photographs
Premature Withdrawal Rules
In case of premature withdrawal, ROI will be 1% below the rate applicable for the period the deposit has remained with the bank. If you delay your payments towards the monthly instalments, the bank will charge Rs.10 per Rs.1,000 per month. This means that if your deposit amount is Rs.2,000, the late payment penalty will be Rs.20.
Axis Bank RD Calculator
Axis Bank RD calculator to calculate the interest on your RD. There are many websites that offer recurring deposit calculators. The process is simple and hassle-free. All you need to do is enter all the details pertaining to your RD account, including the amount, tenure, and rate of interest.
Say you want to check how much you will earn if you put aside Rs.500 per month in an Axis RD, for a period of 3 years. Put in the monthly instalment amount as Rs.500 and select a tenure of 3 years and 0 months. The calculator will tell you that interest earned will be 7.10% p.a., the maturity value will be Rs.20,227, and the aggregate interest amount that you earn will be Rs.2,227.
Put your money into RD schemes offered by Axis Bank and enjoy competitive rates. However, to enjoy better returns, look for other investment vehicles like mutual funds, fixed deposits, stocks, and bonds, among others.
FAQs on Axis Bank RD Interest Rates
- What is the rate of TDS, if I furnish my PAN?
If PAN is furnished, the rate of TDS is 10%.
- What is the TDS threshold limit?
It is Rs.40,000 in a financial year for general citizens while for senior citizens it is Rs.50,000.
- Can I open an RD account with Axis Bank having deposits above Rs.2 crore?
Yes, you can open an RD account having a deposit above Rs.2 crore.
- To avoid TDS, what do I need to submit?
You need to submit a declaration under Section 197A of the Income Tax Act in Form 15-G or Form 15-H, as applicable.
- Under which section of the Income Tax Act, TDS is deducted?
TDS is deducted under section 194 A 3 (i) (a) of the Income Tax Act.
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