Axis Bank long-term Term Deposits. Period of deposit: Above 5 years to 10 years; Rate of interest: 7.25% p.a. Axis Bank Fixed Deposit rates for Senior Citizens. Senior Citizens are eligible to receive 0.50% higher interest on FDs under Rs.5 crore. Highest Axis Bank FD rate for senior citizens: 8.30% p.a. : Axis Bank reduced FD interest rate. Axis Bank reduced interest rates by up to 20 bps from January 9. FDs for less than Rs 2 crore and with the tenor of less than 1 year will earn 6.40%, for the tenor of 5 years to up to 10 years, FD rates is 6.50%.: HDFC Bank deposits up by 25% (YoY) in 2019.
Axis Bank Fixed Deposit Interest Rate Calculator calculates the interest earned on a fixed deposit with the help of outlined components:
(1) Deposit Amount
It is an amount which an FD account holder wants to invest in the fixed deposit. It is also called principal. It is to be remembered that this amount can be deposited only once hence you have to decide the amount to be invested according to your investment objectives.
(2) Interest Rate
It is the rate of interest offered by the bank where you open the FD. It differs for different tenures. Once FD is opened for a specific tenure then the interest rate will remain the same for the whole tenure.
(3) Term of Deposit (FD Tenure)
It is the duration for which the amount is invested in an FD which may vary from 7 days to 10 years. In the calculator, you can select the tenure in days, months or year.
(4) Compounding of Interest
Axis Bank Domestic Fixed Deposit Rates
Interest can be compounded on monthly, quarterly, half yearly or annual basis. It can be a simple interest as well. You need to enter it based on the offer by the bank.