Axis Bank Recurring Deposit Schemes & Interest Rates
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|
Tenure |
Regular RD Interest Rates (P.A) |
Senior Citizen RD Interest Rates (P.A) |
|
6 months < 7 months |
6.25% |
6.5% |
|
7 months < 8 months |
6.25% |
6.5% |
|
8 months < 9 months |
6.25% |
6.5% |
|
9 months < 10 months |
6.5% |
6.75% |
|
10 months < 11 months |
6.5% |
6.75% |
|
11 months < 1 year |
6.5% |
6.75% |
|
1 year < 13 months |
6.75% |
7.40% |
|
13 months < 14 months |
6.75% |
7.40% |
|
14 months < 15 months |
6.75% |
7.55% |
|
15 months < 16 months |
6.75% |
7.40% |
|
16 months < 17 months |
6.75% |
7.40% |
|
17 months < 18 months |
6.90% |
7.55% |
|
18 Months < 2 years |
6.90% |
7.55% |
|
2 years < 30 months |
6.90% |
7.55% |
|
30 months < 3 years |
6.90% |
7.40% |
|
3 years < 5 years |
6.90% |
7.40% |
|
5 years to 10 years |
6.90% |
7.40% |
Axis Bank offers two attractive RD schemes; for regular customers in India and Non-Resident Indians(NRIs). Recurring deposit scheme for Indian citizens offers the opportunity for them to make a stable investment over preferred tenure, through monthly deposits. Such investment tenure can range from 12-120 months. Axis Bank offers the NRE/NRO Recurring Deposit scheme for Non-Resident Indians(NRIs), which can be opened online. The depositors of NRE/NRO RD Scheme can choose tenure ranging from a period of 1-10 years. Indians who reside in USA, the Middle East, Australia, Africa, Canada, U.K, Europe, Singapore and other countries that are approved by the bank, can avail this scheme.
Interest rate offered on the Recurring Deposits of Axis Bank depends on two factors:
- the tenure of investment or maturity period
- the accumulated amount available in the RD account when the interest rate which is applied on a quarterly basis.
Short-Term Recurring Deposit Interest Rates of Axis Bank
Axis Bank RD scheme customers can choose to hold a recurring deposit in the bank for a minimum term of 1 year. The interest rate on a deposit amount of less than one crore in Axis Bank deposited for a tenure of 1 year-18 months is 6.75%. Similarly, the rate of interest applicable on RD in Axis Bank for tenure of 18 months-3 years is 6.25%
Axis Bank Medium and Long-Term Recurring Deposit Interest Rates
This bank offers medium and long-term RD schemes to regular customers at attractive rate of interest. For a medium-term of 3-5 years with a deposit of less than one crore, the interest rate offered on the deposits is 6.25%. The interest rate offered for a recurring deposit for a long-term tenure of 5-10 years for deposits less than Rs. 1 Crore is 6.25% per annum.
Axis Bank Senior Citizen RD Rates
Senior customers of Axis Bank citizens can avail an additional interest of 0.50% above the interest rates offered to regular customers. For a senior citizen, a recurring deposit scheme held for a tenure of 18-14 months, an interest rate of 7.25% is offered and for 2-3 years, the interest rate offered on the RD is 6.75%. For a tenure of 3-5 years, the interest rate offered on the RD is 6.75%and for tenure of 5-10 years, the interest rate offered by Axis Bank is 6.75%.
Axis Bank NRI/NRE RD Rates
For a deposit of less than 1 crore, the NRIs can make a minimum deposit of 1000 rupees and they can increase their deposit further with the multiples of 500 rupees.
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