Axis Bank FD Calculator is the ideal online tool to help an investor customize a model per the investor’s life goals. The popularity of a Fixed Deposit as a savings instrument stems from the fact that it provides a safe investment environment free from market risks and still provides higher guaranteed yields. Individuals rely on Fixed Deposits to park their idle funds to build a corpus over different periods systematically.
The Axis Bank FD Calculator is available at the bank’s official portal. The investment is locked for varying periods starting from as low as 7 days to as long as 120 months attracting different interest rates. Axis Bank offers a wide range of flexible options and competitive interest rates to build an FD portfolio. It is here that the Axis Bank FD Calculator becomes handy to understand the impact of investing and the quantum yield as the deposit matures.
How Can Axis Bank Fixed Deposit Calculator Help?
Like all others in the Indian banking industry, Axis Bank offers multiple options in the Fixed Deposit product range to suit individual preferences. More often than not, these multiple options lead to investor confusion about the right product to choose. It is imperative to understand that the interest rate applied in the Fixed Deposit depends on the key factor denote by the deposit’s tenure. As a thumb rule, the higher is the interest rate, and the higher is the yield.
The Axis Bank FD Interest Calculator provides the platform to inform the applied rate and the final yield. This information is only indicative that help’s the investor make an informed choice. It also depicts a clear picture about the size of the corpus on maturity, depending on the chosen period matching one’s life goals. It is essential to understand that the interest rate is populated in the Axis Bank FD Interest Calculator only for the prospective investment is under Rs 2 Crore an FD with a higher amount must be discussed with the nearest Axis Bank Branch for clarity.
Looking for more insights? Try our SIP Calculator.
Axis Bank provides multiple options to the investors in their FD range to cover a wide range of individual preferences. Fixed Deposit and the Fixed Deposit Plus are the popular products in their bouquet. It is essential to learn about the interest rates applied in the two to comprehend how the Axis Bank FD Interest Calculator works to help the investor design a tailored account.
Fixed Deposit interest rates for domestic customers and NRI’s are quoted separately at varying rates. Senior citizens are offered preferential rates, which are higher than the others. Accordingly, different Axis Bank FD Interest Calculator charts are described below:
Interest rates for Domestic Fixed Deposits w.e.f. 06/05/2021 (in % pa) |
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Period |
< Rs 2 Crore |
>Rs 2 Crore < Rs 4.91 Crore |
>Rs 4.91 Crore < Rs 4.92 Crore |
>Rs 4.92 Crore < Rs 5 Crore |
7d to 14d |
2.50 |
2.70 |
2.50 |
2.70 |
15d to 29 d |
2.50 |
2.75 |
2.50 |
2.75 |
30d to 60d |
3.00 |
3.00 |
2.50 |
3.00 |
61d < 3m |
3.00 |
3.20 |
2.60 |
3.20 |
3m > 6m |
3.50 |
3.45 |
2.60 |
3.45 |
6m >9m |
4.40 |
3.80 |
2.75 |
3.80 |
9m < 1y |
4.40 |
3.95 |
2.75 |
3.95 |
1y < 1y5d |
5.10 |
4.15 |
3.00 |
4.15 |
1y5d< 1y11d |
5.15 |
4.15 |
3.00 |
4.15 |
1y11d <15m |
5.10 |
4.15 |
3.00 |
4.15 |
15m < 18m |
5.20 |
4.15 |
3.00 |
4.15 |
18m < 2y |
5.25 |
4.15 |
3.00 |
4.15 |
2y < 5y |
5.40 |
4.35 |
3.00 |
4.35 |
5y to 10y |
5.75 |
4.35 |
3.00 |
4.35 |
Legend: D = days M = months Y = years |
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Senior Citizens |
0.25% to 0.75% above the rates from periods 6m and above in different period buckets. |
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Minimum Deposit |
Rs.5000 |
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Disclaimer |
The rates are subject to change without any prior notice. |
Interest rates for Domestic Fixed Deposit Plus w.e.f. 22/04/2021 (in % pa) |
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Period |
Rs 5 Crore < Rs 10 Crore |
Rs10 Crore < Rs 25 Crore |
Rs 25 Crore < Rs 50 Crore |
Rs 50 Crore < Rs 100 Crore |
Ø Rs 100 Crore |
7d to 14d |
2.70 |
2.70 |
2.70 |
2.70 |
2.70 |
15d to 29 d |
2.75 |
2.75 |
2.75 |
2.75 |
2.95 |
30d to 60d |
3.00 |
3.00 |
3.00 |
3.00 |
3.00 |
61d < 3m |
3.20 |
3.20 |
3.20 |
3.20 |
3.20 |
3m > 6m |
3.65 |
3.65 |
3.65 |
3.65 |
3.65 |
6m >9m |
4.00 |
4.00 |
4.00 |
4.00 |
4.05 to 4.20 |
9m < 1y |
4.15 |
4.15 |
4.15 |
4.15 |
4.20 |
1y < 2y |
4.35 |
4.35 |
4.35 |
4.35 |
4.35 |
2y to 10y |
4.55 |
4.55 |
4.55 |
4.55 |
4.55 |
Legend: D = days M = months Y = years |
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Premature Withdrawal |
Not permitted |
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Minimum Deposit |
Rs.5 Crore |
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Disclaimer |
The rates are subject to change without any prior notice. |
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Interest rates for NRE Fixed Deposits w.e.f. 06/05/2021 (in % pa) |
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Period |
< Rs 2 Crore |
>Rs 2 Crore < Rs 4.91 Crore |
>Rs 4.91 Crore < Rs 4.92 Crore |
>Rs 4.92 Crore < Rs 5 Crore |
1y < 1y5d |
5.10 |
4.15 |
3.00 |
4.15 |
1y5d< 1y11d |
5.15 |
4.15 |
3.00 |
4.15 |
1y11d <15m |
5.10 |
4.15 |
3.00 |
4.15 |
15m < 18m |
5.20 |
4.15 |
3.00 |
4.15 |
18m < 2y |
5.25 |
4.15 |
3.00 |
4.15 |
2y < 5y |
5.40 |
4.35 |
3.00 |
4.35 |
5y to 10y |
5.75 |
4.35 |
3.00 |
4.35 |
Legend: D = days M = months Y = years |
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Disclaimer |
The rates are subject to change without any prior notice. |
The above charts show that the primary factors that directly impact the interest quantum and the deposit maturity are the investment amount, term, compounding frequency, and the applicable interest. Thus, it is understood that the Axis Bank FD Calculator works by using these factors as input to deliver the desired outcome.
*Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
The critical point to remember is that the Fixed Deposits attract simple interest for periods lesser than six months while those invested for more prolonged periods enjoy compounding at quarterly rests. What does interest mean? In simple terms, interest is the percentage of the “principal” or the initial amount added to the principal over a defined period. There are two types of interest – simple and compound. Let us see how the two are defined:
Simple Interest: It is the percentage of the principal added to the principal regularly on the defined period. The formula expresses it:
Compound Interest: The percentage of the principal amount also comprises the previously accrued interest.
The Axis Bank FD Calculator determines the maturity value where the compounding frequency is quarterly. The following formula generates the returns in the Axis Bank FD received by the investor, which is always higher than achieved through simple interest application.
A = P (1+ r/n) ^ n*t, where
The Axis Bank FD Interest Calculator works using the essential information needed to calculate the desired outcome. The process is simple and user-friendly at the bank portal. A similar principle is employed at the Policybazaar Axis Bank FD Calculator to help the investor model a suitable deposit. The steps involved are well defined and simple for any layman to use and plan investments meeting individual needs. The following steps are indicative:
There is no bar on the number of times the calculator is used to evaluate the FD returns and chalk out an investment plan.
By now, it is amply clear how important and beneficial it is to use the Axis Bank FD Interest Calculator. The primary reason for using it to evaluate the financials of an investment is its simplicity and round-the-clock availability at multiple digital points. It further eliminates the cumbersome manual, error-prone calculation. Some of the critical advantages of using the Axis Bank FD Calculator are:
A1. The minimum amount input accepted in the Axis Bank FD Calculator is Rs.5000.
A2. The calculator factors in the investment tenure. For less than 6 months, simple interest is applied, while for longer tenures quarterly compounding principle is applied.
A3. When the investor chooses an FD with a monthly interest payout, the payable interest is calculated at a discounted rate over the standard. For quarterly interest, it is hassle-free, and it fits with the compounding frequency.
A4. The tax saver FD is a unique instrument where the investment is restricted to Rs.100 to Rs 1.5 Lakh, and the minimum tenure is 5 years and locked for the period. The regular FD has no such restrictions.
A5. The interest earned from a fixed deposit during a financial year is subject to Income Tax as per the Income Tax Act, 1961. The rate of TDS is 10% of the earned interest if the customer’s PAN card is on the bank’s records; else the TDS is 20%.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.
**Tax benefit is subject to changes in tax laws. Standard T&C apply.