Axis Bank offers recurring deposit interest rates of 3.50%-7.75% p.a. to senior citizen depositors and 3.00%-7.25% p.a. to other depositors with minimum monthly investment of Rs 500. The tenures available for opening Axis Bank recurring deposits range from 6 months to 10 years.
Axis Bank Recurring Deposit Highlights
| Interest Rates | |
| For 1 year | 6.70% p.a. |
| For 2 years | 7.10% p.a. |
| For 3 years | 7.10% p.a. |
| For 4 years | 7.10% p.a. |
| For 5 years | 7.00% p.a. |
| Tenure | |
| Minimum Tenure | 6 months |
| Maximum Tenure | 10 years |
| Monthly Investment | |
| Minimum Monthly Investment | Rs 500 |
| Maximum Monthly Investment | No limit |
Rates as of 7th November 2024
Axis Bank RD Rates
Axis Bank does not set separate set of interest rates for its recurring deposits. Axis Bank recurring deposit rates are the same as Axis Bank FD rates. Below-mentioned are the RD interest rates offered by Axis Bank.
Axis Bank Recurring Deposit Rates of less than Rs 3 crore w.e.f. 21st October 2024
| Tenure | Interest Rates (p.a.) | |
| Regular Citizens | Senior Citizens | |
| 7 days to 14 days | 3.00% | 3.50% |
| 15 days to 29 days | 3.00% | 3.50% |
| 30 days to 45 days | 3.50% | 4.00% |
| 46 days to 60 days | 4.25% | 4.75% |
| 61 days to less than 3 months | 4.50% | 5.00% |
| 3 months – 3 months 24 days | 4.75% | 5.25% |
| 3 months to less than 4 months | 4.75% | 5.25% |
| 4 months to less than 5 months | 4.75% | 5.25% |
| 5 months to less than 6 months | 4.75% | 5.25% |
| 6 months to less than 7 months | 5.75% | 6.25% |
| 7 months to less than 8 months | 5.75% | 6.25% |
| 8 months to less than 9 months | 5.75% | 6.25% |
| 9 months to less than 10 months | 6.00% | 6.50% |
| 10 months to less than 11 months | 6.00% | 6.50% |
| 11 months to 11 months 24 days | 6.00% | 6.50% |
| 11 months 25 days to less than 1 year | 6.00% | 6.50% |
| 1 year to 1 year 4 days | 6.70% | 7.20% |
| 1 year 5 days to 1 year 10 days | 6.70% | 7.20% |
| 1 year 11 days to 1 year 24 days | 6.70% | 7.20% |
| 1 year 25 days to less than 13 months | 6.70% | 7.20% |
| 13 months to less than 14 months | 6.70% | 7.20% |
| 14 months to less than 15 months | 6.70% | 7.20% |
| 15 months to less than 16 months | 7.25% | 7.75% |
| 16 months to less than 17 months | 7.25% | 7.75% |
| 17 months to less than 18 months | 7.25% | 7.75% |
| 18 months to less than 2 years | 7.25% | 7.75% |
| 2 years to less than 30 months | 7.10% | 7.60% |
| 30 months to less than 3 years | 7.10% | 7.60% |
| 3 years to less than 5 years | 7.10% | 7.60% |
| 5 years to 10 years | 7.00% | 7.75% |
Note: Rates as of 7th November 2024
Features of Axis Bank Recurring Deposit
- Minimum monthly instalment: Rs 500
- Maximum monthly instalment: No limit
- Minimum tenure: 6 months
- Maximum tenure: Up to 10 years
- Premature withdrawal penalty is not charged in case of deposits of less than Rs 5 crore and for tenures of more than 2 years opened after 15th December 2020 and closed after 15 months of booking or renewal of that RD.
- For RDs opened on or after 9th August 2016, a penalty of Rs 10 per Rs 1,000 per month is charged in case of delayed payments of any RD instalment.
How to apply for Axis Bank Recurring Deposit
Depositors can apply for Axis Bank RD by visiting the nearest Axis Bank branch or through either of the online methods — internet banking or mobile banking.
Axis Bank Online RD through Internet Banking:
- Depositors have to login in to their internet banking account and select the deposit option
- They then have to click on the option “Create Recurring Fixed Deposit” and fill in the required details
- On confirmation, the specified amount will be debited from their savings account and recurring fixed deposit will be created. The depositor will receive a web receipt of the booked RD.
- If the depositor is registered for an e-statement, the recurring fixed deposit advice is mailed at his/her registered e-mail address. If not registered for e-statements, a physical recurring deposit advice is dispatched to the communication address of the depositor.
Axis Bank Online RD through Mobile Banking:
- The depositors have to login to their mobile banking account and select the “deposit” option
- They then have to select “Open RD” and fill in the required details
- On confirmation, the selected amount will be debited from savings account and recurring fixed deposit is created. A receipt of the RD booked is received online.
- The recurring deposit advice is mailed on the registered e-mail ID of the depositor if he/she has registered for e-statements.
- If the depositor is not registered for e-statement, then he/she will receive a physical RD advice in his/her communication address.