AXIS Bank RD Rates

Axis Bank recurring deposit interest rates are 5.75% to 7.10% p.a. for general citizens and 6.00% to 7.85% p.a. for senior citizens with minimum monthly instalments of Rs. 500. Axis Bank RD account can be opened for the duration of 6 months to 10 years. Let’s discuss Axis Bank RD Interest Rates in 2023:

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7.7 Crore

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4.2 Crore

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7.7 Crore

Registered Consumer

50

Insurance Partners

4.2 Crore

Policies Sold

Disclaimer: *The Guaranteed Returns are dependent on the policy term and premium term availed along with the other variable factors. 7.1% rate of return is for an 18 years old, healthy male for a policy term of 20 years and premium term of 10 years with Rs.10,000 monthly installment premium. All plans listed here are of insurance companies’ funds.

Axis Bank RD Interest Rates 2023

The following table shows the Axis Bank RD account interest rates on deposits of up to Rs. 2 crores w.e.f. 18.05.2023:

Tenure	RD Interest Rates for General Citizens (in % p.a.)	RD Interest Rates for Senior Citizens (in % p.a.)
6 months to < 9 months	5.75%	6.00%
9 months to < 1 year	6.00%	6.25%
1 year to 1 year 4 days	6.75%	7.50%
1 year 5 days to < 13 months	6.80%	7.55%
13 months to < 2 years	7.10%	7.85%
2 years to < 30 months	7.05%	7.80%
30 months to 10 years	7.00%	7.75%

Disclaimer: RD Interest rates are subject to change with time. Policybazaar does not endorse, rate, or recommend any particular company or product. The investment risk in the investment portfolio is borne by the policyholder.

What are Axis Bank RD Interest Rates?

Axis Bank RD rates refer to the percentage of interest that Axis Bank offers customers on their Recurring Deposit (RD) investments.

You open an RD account with Axis Bank and deposit a fixed amount of money each month for a specific tenure
The bank calculates and pays you interest on your accumulated deposits
Higher interest rates result in higher returns, while lower interest rates yield low returns

What are the Features of Axis Bank Recurring Deposit Scheme?

The key features of RD in Axis Bank are listed in the table mentioned below:

Features	Details
RD Instalment Frequency	Monthly
Monthly Instalment Limit	Rs. 500 – No Limit
Tenure	6 months – 10 years
Interest Compounded	Quarterly
Nomination Facility	Available
Advantage	It helps you to save consistently
Axis eEDGE Rewards	Allows customers to earn reward points on various transactions and redeem them for a wide range of exciting rewards Axis Bank customers are automatically enrolled in the eDGE Rewards program
Penalty on Delayed Payment	Rs. 10 is levied for every Rs. 1,000 per month of the delayed period
Premature Withdrawal	No penalty is charged on premature withdrawals after 15 months of RD if: RD amount: Up to Rs. 5 crores Tenure: Higher than 2 years
Taxation	Tax Deduction at Source (TDS) is levied as per the income tax regulations if the annual interest earned is higher than Rs. 40,000 According to Section 194 A 3(i) of the Income Tax Act, 1961

** You can use Axis Bank RD Calculator to estimate the maturity amount and interest earned on your recurring deposit.

What are the Benefits of Axis Bank RD Interest Rates?

Some of the advantages of Axis Bank Recurring Deposit Interest Rates are as follows:

Competitive Interest Rates
Flexible tenure options ranging from a few months to several years
Offers the convenience of automated debit from your savings account
Encourage disciplined savings as you commit to depositing a fixed amount every month
Provide stable returns, as they are not subject to market fluctuations
Axis Bank RDs offer a nomination facility, ensuring the protection of your savings and benefits your loved ones

What is the Eligibility Criteria to Open an Axis Bank RD?

The following are eligible for the Axis Bank RD account:

Indian citizens or Hindu Undivided Families
NRIs via NRO and NRE accounts.
Minors under parental guardianship

What are the Documents Required for Axis Bank Recurring Deposit Scheme?

An individual requires the following documents to open an Axis Bank RD account:

Particulars	Documents Required
Basic Documents	Account opening form Passport-size Photographs
ID Proof	Aadhar Card PAN Card Voter ID Card Passport Driving License
Address Proof	Utility Bills (electricity/ telephone/ gas bills) Bank Account Statements Ration Card Rent Agreement
Income Proof	Salary Slips Income Tax Returns Bank Statements
Age Proof	Birth Certificate PAN Card Passport School/College Leaving Certificate

How to Apply for an RD in Axis Bank?

You can open an Axis Bank Recurring Deposit Account through the following modes:

Internet Banking

Step 1: Log in to the Axis Bank Internet banking account

Step 2: Click on the "Deposit" section

Step 3: Select the "Create Recurring Fixed Deposit" tab

Step 4: Fill in the application form with all the relevant details of the account holder and the nominee

Step 5: Upon confirmation of the application, the selected premium amount gets debited from your savings account

The RD document will be available for you instantly to download
Mobile Banking

Step 1: Download and install the Axis Bank mobile banking app from the Google Play Store or Apple App Store

Step 2: log in using your credentials (customer ID and password)

Step 3: Navigate to the "Accounts" or "Deposits" section within the app

Step 4: Click on the option "Create RD Account"

Step 5: Select the type of RD account you want to open, such as "Normal RD" or "Tax Saver RD"

Step 6: Decide the tenure and monthly instalment amount for your RD account

Step 7: Provide any additional information or documents requested by the bank

Step 8: Accept the terms and conditions and submit the application form

Step 9: Pay the initial deposit amount as required by the bank

Once your RD account is successfully opened, you will receive a confirmation from the bank
Bank Branch

Step 1: Visit the Axis Bank branch nearest to you

Step 2: Approach the customer service desk to provide you with the necessary application form

Step 3: Fill out the RD application form with accurate details for the following:
- Your name
- Contact details
- Address
- PAN (Permanent Account Number)
Step 4: Choose the tenure or duration for your RD account

Step 5: Determine the monthly installment amount you wish to contribute toward your RD account

Step 6: Specify the source of funds from your savings account in Axis Bank or another bank account

Step 7: Submit the filled application form along with any required documents to the bank representative

Step 8: Pay the initial deposit amount as required by the bank

Once your RD account is successfully opened, you will receive a confirmation from the bank

FAQ's

What is the RD interest rate in Axis Bank?

The key Axis Bank RD rates in 2023 are as follows:

Tenure	Senior Interest Rates	General Citizen Interest Rates
6 months < 9 months	5.75%	6.00%
9 months < 1 year	6.00%	6.25%
1 year to 1 year 24 days	6.80%	7.55%
1 year 25 days < 13 months	7.10%	7.85%
13 months < 2 years	7.15%	7.90%
2 years < 30 months	7.20%	7.95%
30 months < 10 years	7.00%	7.75%

Which bank is giving the highest interest on RD?

The highest RD interest rates offered by top banks in 2023 are listed below:

Bank Name	General RD Interest Rates (in % p.a.)	Senior Citizen Interest Rates (in % p.a.)
Axis Bank RD Interest Rates	5.75% - 7.20%	6.00% – 7.95%
BOB RD Interest Rates	4.50% – 6.75%	4.80% – 5.75%
Canara Bank	6.25% – 7.25%	6.75% –7.75%
HDFC RD Interest Rates	4.50% – 7.10%	5.00% – 7.60%
ICICI RD Interest Rates	4.75% – 7.10%	5.25% – 7.60%
SBI RD Interest Rates	6.50% – 7.00%	7.00% – 7.50%

Disclaimer: †† Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is done in alphabetical order (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

What is RD means in Axis Bank?

RD stands for Recurring Deposit in Axis Bank. It is a type of deposit account that allows customers to deposit a fixed amount of money regularly (typically monthly) for a predetermined period. The deposited amount earns interest at a specified rate set by the bank. At the end of the tenure, the customer receives the principal amount and accumulated interest.
What is the minimum and maximum duration to open RD?

The minimum and maximum duration to open an RD bank account with Axis Bank is 6 months and 10 years, respectively.
What is the minimum monthly instalment required to invest in RD?

The minimum monthly instalment required to invest in Axis Bank RD is Rs. 500.
How can I open an Axis Bank RD account?
You can easily open an RD account with Axis Bank in the following ways:
- Internet Banking
- Mobile Banking
- Visiting Axis Bank Branch

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

* Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy male of 18 years old paying Rs. 30,000/- monthly (exclusive of all applicable taxes)

** Fixed deposit rate applicable for 5 year's 1 day to 10 years for investment amount less< 2 Crore ( Not for senior citizens).

*** PPF interest rate applicable for 15 years for investment amount upto 1.5 Lac

+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023

#Discount offered by insurance company

## The Guaranteed Returns are dependent on the policy term and premium term availed along with the other variable factors. 7.1% rate of return is for an 18 years old, healthy male for a policy term of 20 years and premium term of 10 years with Rs.10,000 monthly installment premium. All plans listed here are of insurance companies’ funds.

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