AXIS Bank Recurring Deposit Features & Interest Rate – 2016

Formerly known as UTI Bank, AXIS Bank Limited is one of the highly reputed banks in India and is the third largest private sector bank in India. Offering financial services to customer segments including Large and Mid-Sized Corporates, MSME, Agriculture and Retail Businesses, AXIS Bank has grown globally in the recent years.

Along with Corporate Banking, AXIS Bank also offers Personal Banking solutions for individuals including Savings Account and Term Deposit plans. AXIS Bank’s Recurring Deposit is ideal to build up your savings with regular fixed monthly deposits for a certain period of time. Opening a RD account offers identical interest rates that you get from a Fixed Deposit account at AXIS Bank.

Features & Benefits of AXIS Bank Recurring Deposit Account:

Below are the salient features of RD scheme offered by AXIS Bank:

  • Recurring deposits are accepted in equal monthly installments of minimum Rs 1,000 and above in multiples of Rs 500 thereafter.
  • Recurring Deposit accounts can be opened for a minimum period of 12 months and in multiples of 12 months thereafter, up to a maximum of 120 months.
  • The amount of installment once fixed, cannot be changed.
  • Installment for any calendar month is to be paid on or before the last working day of the month. Where there is delay in payment of installment, one can regularize the account by paying the defaulted installment together with a penalty (at present it is @ PLR plus 4 % for the period of delay).Fraction of a month will be treated as full month for the purpose of calculating the penalty.
  • The total amount repayable to a depositor, inclusive of interest, depends on the amount of monthly installments and the period of deposit.

AXIS Bank RD Interest Rates 2016:

Below tables show the interest rates applicable on Recurring Deposit accounts at AXIS Bank as per the period of investment:

  • Deposits Less Than Rs. 5 Crores (w.e.f. 14/09/2015)
PERIODINTEREST RATES (% P.A.) on Deposits
1 year7.90
2 years > 3 years7.75
3 years > 5 years7.75
5 years to 10 years7.50
  • Deposits Less Than 5 Crores for Senior Citizens (w.e.f. 14/09/2015)
PERIODINTEREST RATES (% P.A.) on Deposits
1-2 years8.40
2 years < 3 years8.25
3 years < 5 years8.25
5 years to 10 years8.00
  • Deposits – Rs. 5 Crores and Above (w.e.f. 14/09/2015)
PERIODINTEREST RATES (% P.A.) on Deposits
1 year7.50
2 years7.25
3 years to 10 years7.25

Table updated: 15 January, 2016

Calculate rd maturity value now

Source: http://www.axisbank.com/download/Interest-Rates-on-Domestic-Deposits.pdf

10 Comments

  1. Hi Sir,
    I have RD with axis bank. my due date is 8th, unexpectedly i was not have money on 8th but 9th of that month i have the money. what will be happen. can you please give me suggestion

  2. I want RD accountin axis bank.if i paid 2000 per month for 12 month . what is the total amount i get maturity

  3. I want to a RD a/c in axis bank 12 month 3000/- installment . what is the maturity amount? How can i open RD a/c ? I have salary a/c in this bank. please give me details.

  4. I want to open RD in AXIS BANK. If i paid 2000/month for 12 month. what is the total amount i get after the maturity? Please guide.

  5. want to a Rd a/c in axis bank for 12month 1000/=installment .what the maturity amount? Please give me details.

  6. I want to a RD a/c in axis bank 12 month 2000/- installment . what is the maturity amount? please give me details.

  7. I want to a Rd a/c in axis bank for 12month 1000/=installment .what the maturity amount? Please give me details.

  8. I went to a Rd a/c in axis bank for 24month 2000/=installment.what the maturity amount? Plz give me details.

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