Axis Bank FD rate 2023: After the latest revision, the bank is now offering up to 7.26 per cent return annually to general public on deposits less than Rs 2 crore while 8.01 per cent to senior citizens.
Axis Bank FD rate 2023: Private sector lender Axis Bank has revised the interest rates of Fixed Deposit (FD). After the latest revision, the bank is now offering up to 7.26 per cent return annually to general public on deposits less than Rs 2 crore while 8.01 per cent to senior citizens.
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Axis Bank FD Calculator
Axis Bank is guaranteeing 7 per cent interest of FD for the general public if they stay invested for 10 years. To put things into perspective, if a customer deposits Rs 10 lakh, then he/she will get Rs 20,01,597 on maturity. It means that the bank will pay Rs 10,01,597 as interest.
Similarly, senior citizens earning 7.75 per cent return per annum on 10-year FD, will get Rs 21,54,563 on maturity (including interest of Rs 11,54,563).
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| Axis Bank FD Tenor | General Public FD rate (%) | Senior Citizen FD rate (%) |
| 7 days to 45 days | 3.5 | 3.5 |
| 46 days to 60 days | 4 | 4 |
| 61 days < 3 months | 4.5 | 4.5 |
| 3 months < 6 months | 4.75 | 4.75 |
| 6 months < 9 months | 5.75 | 6 |
| 9 months < 1 year | 6 | 6.25 |
| 1 year s to 1 year 24 days | 6.75 | 7.5 |
| 1 year 25 days < 13 months | 7.1 | 7.85 |
| 13 months < 2 years | 6.75 | 7.5 |
| 2 years < 30 months | 7.26 | 8.01 |
| 30 months to 10 years | 7 | 7.75 |
Axis Bank FD rate 2023:Tax saving on 5-year FD
Interest earned on FD is taxable but taxpayers can claim a deduction under section 80C on FD of 5 years. Under 80C, a maximum tax deduction of up to Rs 1.5 lakh can be claimed in a financial year.
