Axis Bank RD Interest Rates | Features and Benefits of Axis Bank Recurring Deposits
Updated on September 2, 2022
Written by Manish Kothari
CEO Zfunds
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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 crore | RS. 2 Crores < RS.4.91 Crores | Rs 4.91 crores - < Rs 4.92 crores | Rs. 4.92 crores - up to Rs 5 crores | ||||||
| 15 days to 29 days | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | |
| 30 days to 45 days | 3 | 3 | 2.75 | 2.75 | 2.5 | 2.5 | 2.75 | 2.75 | |
| 46 days to 60 days | 3 | 3 | 2.75 | 2.75 | 2.5 | 2.5 | 2.75 | 2.75 | |
| 61 days < 3 months | 3 | 3 | 3 | 3 | 2.6 | 2.6 | 3 | 3 | |
| 3 months < 4 months | 3.5 | 3.5 | 3.25 | 3.25 | 2.6 | 2.6 | 3.25 | 3.25 | |
| 4 months < 5 months | 3.5 | 3.5 | 3.25 | 3.25 | 2.6 | 2.6 | 3.25 | 3.25 | |
| 5 months < 6 months | 3.5 | 3.5 | 3.25 | 3.25 | 2.6 | 2.6 | 3.25 | 3.25 | |
| 6 months < 7 months | 4.4 | 4.65 | 3.55 | 3.8 | 2.75 | 3 | 3.55 | 3.8 | |
| 7 months < 8 months | 4.4 | 4.65 | 3.55 | 3.8 | 2.75 | 3 | 3.55 | 3.8 | |
| 8 months < 9 months | 4.4 | 4.65 | 3.55 | 3.8 | 2.75 | 3 | 3.55 | 3.8 | |
| 9 months < 10 months | 4.4 | 4.65 | 3.8 | 4.05 | 2.75 | 3 | 3.8 | 4.05 | |
| 10 months < 11 months | 4.4 | 4.65 | 3.8 | 4.05 | 2.75 | 3 | 3.8 | 4.05 | |
| 11 months < 11 months 25 days | 4.4 | 4.65 | 3.8 | 4.05 | 2.75 | 3 | 3.8 | 4.05 | |
| 11 months 25 days < 1 year | 4.4 | 4.65 | 3.8 | 4.05 | 2.75 | 3 | 3.8 | 4.05 | |
| 1 year < 1 year 5 days | 5.1 | 5.75 | 4.15 | 4.8 | 3 | 3.65 | 4.15 | 4.8 | |
| 1 year 5 days < 1 year 11days | 5.15 | 5.8 | 4.15 | 4.8 | 3 | 3.65 | 4.15 | 4.8 | |
| 1 year 11days < 1 year 25days | 5.1 | 5.75 | 4.15 | 4.8 | 3 | 3.65 | 4.15 | 4.8 | |
| 1 year 25 days < 13 months | 5.1 | 5.75 | 4.15 | 4.8 | 3 | 3.65 | 4.15 | 4.8 | |
| 13 months < 14 months | 5.1 | 5.75 | 4.15 | 4.8 | 3 | 3.65 | 4.15 | 4.8 | |
| 14 months < 15 months | 5.1 | 5.75 | 4.15 | 4.8 | 3 | 3.65 | 4.15 | 4.8 | |
| 15 months < 16 months | 5.1 | 5.75 | 4.15 | 4.8 | 3 | 3.65 | 4.15 | 4.8 | |
| 16 months < 17 months | 5.1 | 5.75 | 4.15 | 4.8 | 3 | 3.65 | 4.15 | 4.8 | |
| 17 months < 18 months | 5.1 | 5.75 | 4.15 | 4.8 | 3 | 3.65 | 4.15 | 4.8 | |
| 18 months < 2 years | 5.25 | 5.9 | 4.25 | 4.9 | 3 | 3.65 | 4.25 | 4.9 | |
| 2 years < 30 months | 5.4 | 6.05 | 4.45 | 5.1 | 3 | 3.65 | 4.45 | 5.1 | |
| 30 months < 3 years | 5.4 | 6.05 | 4.45 | 5.1 | 3 | 3.65 | 4.45 | 5.1 | |
| 3 years < 5 years | 5.4 | 6.05 | 4.45 | 5.1 | 3 | 3.65 | 4.45 | 5.1 | |
| 5 years to 10 years | 5.75 | 6.5 | 4.45 | 5.2 | 3 | 3.75 | 4.45 | 5.2 | |
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