Product Details
Bank Name
Axis Bank
Eligibility
An existing savings account in Axis Bank.
Interest Rate
Up to 7.75% per annum.
Tenure
6 months to 5 years.
Fixed Deposit Type
Flexible
Auto Fixed Deposit
Tax Benefits
None
Credit Ratings
CRISIL AA+/CRISIL AAA
Interest Payment Frequency
Not mentioned by the bank. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
Not mentioned by the bank.
Features
Minimum deposit of 5,000.
This deposit is linked with the Savings account which automatically transfers the amount in multiples of Rs 5000 when the balance is above 25,000.
Loan facility is available.
Minimum Investment Amount
5000
Features & Benefits
Pros
Additional concession for senior citizens.
Tenure starting from 6 months.
Automatic transfer of deposit amount.
Cons
Tenure of up to 5 years only.
The minimum deposit required to open this deposit is Rs 5000.
Pros & Cons
Account Opening Procedure
How to Open?
You can open the FD online by visting the website https://www.axisbank.com/
Application Procedure
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