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Axis Bank RD Interest Rates | Features and Benefits of Axis Bank Recurring Deposits

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Manish Kothari
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Axis Bank Recurring Deposit Interest Rates

A Recurring Deposit (RD) is a term deposit offered by multiple banks and post offices that allows people to deposit a specific amount of money every month into their RD account and earn returns at the rates provided for FDs. It is similar to initiating an FD account of a specific sum every month. This scheme matures on a specified date along with all the deposit amounts made every month. This scheme allows individuals to generate their savings through regular monthly deposits of fixed payments for a specified period. 

Features and Benefits of Axis Bank Recurring Deposits

  • The monthly investment amount is as low as Rs 500 with no maximum limit.
  • Flexible tenure: You may start investing in RD for a short term of 6 months up to 10 years.
  • Guaranteed Returns: RD comes with a guaranteed return with negligible associated risks.
  • High rate of interest: Generally, recurring deposits offer similar rates as those provided by fixed deposits. And, it is also observed that RDs offer higher returns on savings, as shown on a savings account.

Also Read : Bank of India FD Interest Rates

Who can open an RD account ?

The following can start investing through RD account scheme:

1. Any Individual

2. Any minor (of the age ten years or less) provided with a legal guardian

3. Any Company, Corporate, Government Organisation, Proprietorship, or Commercial Organisation

Interest Rates on Domestic Deposits

 Interest Rates (%) per annum 
 Below Rs 2 croreRS. 2 Crores  < RS.4.91 CroresRs 4.91 crores - < Rs 4.92 croresRs. 4.92 crores - up to Rs 5 crores 
 
 
15 days to 29 days2.52.52.52.52.52.52.52.5 
30 days to 45 days332.752.752.52.52.752.75 
46 days to 60 days332.752.752.52.52.752.75 
61 days < 3 months33332.62.633 
3 months  < 4 months3.53.53.253.252.62.63.253.25 
4 months  < 5 months3.53.53.253.252.62.63.253.25 
5 months < 6 months3.53.53.253.252.62.63.253.25 
6 months < 7 months4.44.653.553.82.7533.553.8 
7 months  < 8 months4.44.653.553.82.7533.553.8 
8 months  < 9 months4.44.653.553.82.7533.553.8 
9 months < 10 months 4.44.653.84.052.7533.84.05 
10 months  < 11 months4.44.653.84.052.7533.84.05 
11 months  < 11 months 25 days4.44.653.84.052.7533.84.05 
11 months 25 days < 1 year4.44.653.84.052.7533.84.05 
1 year < 1 year 5 days5.15.754.154.833.654.154.8 
1 year 5 days < 1 year 11days5.155.84.154.833.654.154.8 
1 year 11days < 1 year 25days5.15.754.154.833.654.154.8 
1 year 25 days < 13 months5.15.754.154.833.654.154.8 
13 months < 14 months5.15.754.154.833.654.154.8 
14 months < 15 months5.15.754.154.833.654.154.8 
15 months < 16 months5.15.754.154.833.654.154.8 
16 months < 17 months5.15.754.154.833.654.154.8 
17 months  < 18 months5.15.754.154.833.654.154.8 
18 months < 2 years5.255.94.254.933.654.254.9 
2 years < 30 months5.46.054.455.133.654.455.1 
30 months < 3 years5.46.054.455.133.654.455.1 
3 years < 5 years5.46.054.455.133.654.455.1 
5 years to 10 years5.756.54.455.233.754.455.2 

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