Axis Bank Fixed Deposit Scheme
The Axis Bank fixed deposit scheme is gaining a lot of popularity. The primary reason behind this is that the Axis Bank fixed deposit rates are very competitive. Then, the bank is a very reputed name in the Indian financial industry. They enjoy positive and favourable reviews from their existing customers. This is another reason why many people trust the institute and open their FD accounts there. If you want to start a new fixed deposit scheme, consider the Axis Bank fixed deposit account. It is safe, beneficial and loaded with the best and the most modern features. Read on to know more.
Axis Bank fixed deposit benefits
There are several Axis Bank fixed deposit benefits that you can enjoy. Some of them are:
1. Improved rate of interest:
The Axis bank fixed deposit rates are among the most competitive in India. The rates start at 2.5% and go up to 6.5%. Senior citizens of the country stand to get a higher rate of interest on their FD investments. This makes the FDs from Axis Bank very attractive and popular among the general public.
There are different types of fixed deposit rates with Axis Bank, namely:
- Domestic Fixed Deposits with further classification as per the amount of fixed deposit such as:
- Fixed deposits less than INR 2 CR
- Fixed deposits more than INR 2 CR but less than INR 4.91 CR
- Fixed deposits more than INR 4.91 CR but less than INR 4.92 CR
- Fixed deposits more than INR 4.92 CR but less than INR 5 CR
- The rates which are currently in effect from 10-Nov-21 vary from 2.5% to 5.75%
- For senior citizens, the rate of interest goes up to 6.5% for a tenure of 5 years or more
- Domestic Fixed Deposits Plus for deposits more than INR 5 CR
- NRI Fixed Deposits /FCNR Deposit, For Non-Resident Indians in INR and Foreign Currency (FC)
- NRI Fixed Deposits Plus for NR fixed deposits more than INR 5CR.
2. Safe and secured
Today the online financial space is quite safe. Yet, money frauds are common and many people suffer due to it. This is why you need to be very careful when carrying out financial transactions online. In this regard, the website and app of Axis Bank are very safe. The FD you start online is as safe as it possibly can be, so you need not worry about any fraudulent matters.
3. Excellent digital presence
It is very easy to start an online fixed deposit with Axis Bank. you can simply go online, fill in some quick details and your FD will commence. This is a huge benefit you get as it helps to save a lot of your time and effort. Also, the service is available round the clock, so you can do it at your own convenience.
4. Different types of Fixed Deposits: AXIS Bank provides various types of Fixed Deposit options to its customers such as:
- Express FD where you can open a Fixed Deposit even without a savings account with AXIS Bank and non-penalty on premature withdrawal
- Fixed Deposits, the regular option that you are aware of.
- Recurring Deposits with as low as INR 500 per month for a minimum tenure of 6 months
- Tax Saver Fixed Deposit with tax benefits under section 80C
- Fixed Deposit Plus is a high rate FD for a minimum amount of INR 5 CR
- Auto Fixed Deposit is a linked FD with your bank account such that the excess amount is automatically fixed by your bank for a short duration to provide a higher rate of interest to you than the regular ROI of bank accounts.
5. Cooperative customer service
The custom support team of Axis Bank is very supportive and friendly. If you have any doubts regarding the Axis bank fixed deposit rates or any other query related to the FD, you can reach out to the customer support cell and get your doubts cleared.
6. Tax benefits
There are some handy tax benefits available. If you are looking for a tax-saving fixed deposit, you can opt for a tax-saving Axis bank fixed deposit for a minimum tenure of 5 years. In this, you get a tax deduction of up to INR 1.5 Lakhs a year under Section 80 C of the Indian Income Tax Act of 1961. This is a great way to save tax. However, the interest earned on a tax-saving fixed deposit is taxable.
These are some very good benefits that you stand to get when you open the feature-loaded Axis Bank fixed deposit. Keep them in mind when you consider your options for starting a fixed deposit scheme in India.
How to open an Axis Bank fixed deposit account?
Here are the simple steps you need to follow if you wish to open an Axis Bank FD:
1. Offline Route: Visit the branch
Your first option is to visit the nearest branch or the branch where you have an account in Axis Branch. Once there, you can speak to any executive and ask to open the fixed deposit. You will be asked to fill in an application form. You can either give a cheque or ask for the amount to be directly deducted from your savings bank account. The FD will be opened then and there and you can start getting all the Axis bank fixed deposit benefits.
2. Online Route:
- Download the app/visit the website
If you wish to go the digital route, all you have to do is download the net banking app of Axis Bank. Alternatively, you could also visit the bank’s official website. Online fixed deposits are very easy to open and the task hardly takes a couple of minutes to be completed.
- Log in
Log in with your registered username and password. Then, select the amount, duration and the subsequent Axis Bank fixed deposit interest rates. Make the proper selection as per your needs and investment goals.
- Click and go
Once that is done, click the start FD option and your investment will be on its way.
You need to choose the amount, the tenure of investment and the maturity instructions of whether you wish to automatically renew the same or credit the interest in your bank savings account.
- Download the app/visit the website
The steps to open the Axis Bank fixed deposit account are very simple so if you wish to do so, go ahead and start your fixed deposit without any further delay.
The final word
There are some very logical reasons why you should open the Axis Bank fixed deposit account. The Axis bank fixed deposit rates are high and the bank offers excellent customer support too. As these are very important and handy features to have on any financial platform, opening the fixed deposit in Axis Bank works to your full benefit. Read the reviews and you will know how happy the customers are and you too will surely open your FD right away!