Want to make an investment? Are you worried about the risk involving investment? Now, there is a solution to your predicament. You can make the investment tension free and a can earn good returns. The Axis Bank Fixed Deposit is the investment product which will help you to multiply your money and enjoy the benefits of handsome returns.
Axis bank is the third largest private bank of India. The Axis Bank offers the entire range of financial services with the help of its widespread networks to large and mid-sized corporates, SME and retail businesses.The fixed deposit is the type of investment where you put a certain amount with the bank for a certain period of time and the banks add the interest rate to the amount deposited and hence the money keeps on increasing.
The Axis bank Fixed deposit provides its customer with the short term fixed deposit as well as medium to long term fixed deposit option. There is the provision to withdraw the money before maturity. You can also avail the loan against the fixed deposit. The maximum benefits can be enjoyed by the customer through the renewal of the fixed deposit. The axis bank has a special scheme for the senior citizen as well as for the retail or corporate customers.
Know more about it:
- The minimum amount you can invest in the fixed deposit is ₹10,000 and there is no maximum limit.
- The minimum tenure for which you can invest is 10 days and the maximum tenure for the same is 10 years.
The rate of interest on fixed deposit:
The rate of interest on the fixed deposit given by the Axis bank on both the short term as well as the mid to large term is given below
TIME PERIOD OF THE FIXED DEPOSIT(less than 1 cr.) RATE OF INTEREST
>1 year to < 2 years 7.00% p.a
>2 years to 5 years 6.75% p.a
>5 years to 10 years 6.75% p.a
The rate of interest for the senior citizens-
the Axis bank has special rates for the senior citizens which are relatively higher than that of the regular fixed deposit. Here below the detailed information about the Fixed deposit interest rates given to the senior citizen is mentioned
TIME PERIOD OF THE FIXED DEPOSIT(less than 1 cr.) RATE OF INTEREST
7- 29 days 3.5% p.a
30 to 45 days 5.5% p.a
2 to 6 months 6.25% p.a
>9 months to <1 year 7.00% p.a
>1 year to <2 years 7.50% p.a
>2 years to <5 years 7.25% p.a
>5 years to 10 years 7.25% p.a
Axis Bank Fixed deposit plus-
This is the special scheme that has been introduced for the retailer and corporate customers who wish to fix the amount of more than 15 lakh at one time. The minimum tenure of the fixed deposit is more than 1 year and maximum for less than 2 years. The auto renewal option is available. The pre- mature withdrawal under normal circumstances are not allowed while for special purposes like bankruptcy, loss, etc. the pre- closure can be allowed.
Eligibility criteria required by Axis Bank-
Below mentioned individual or group are eligible for a fixed deposit
- The applicant should be the resident of India.
- Hindu undivided family
- Sole proprietorship firms
- Partnership firm
- limited companies
- trust accounts
Documents required-
The documents required by the individual, Hindu undivided family, and sole proprietorship at the time of applying for the fixed deposit are:
- A coloured photograph
- Passport/ Driving License
- Last six months bank account details
Documents required from the trust, association/ clubs for the fixed deposit are as follow:
- Photographs of the member operating the account.
- A copy of the Trust Deed/ By- laws of the association.
- A copy of registration certificate.
- A copy of the resolution of trustee authorizing the member to operate and open the accounts.
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