Axis Bank RD Calculator 2017 is available here. The Axis Bank RD Account holders who want to know their maturity amount or investment amount can use this Recurring Deposit Calculator. Know the latest Axis Bank RD interest rates and tenure periods to calculate your Axis Bank Recurring Deposit Account maturity amount. Read the complete article to know more details about Axis Bank Recurring Deposit.
Axis Bank Recurring Deposit
The Recurring Deposit is used for saving the money. Every month the RD Account holders have to deposit some amount of money. There are many advantages and benefits by having a Recurring Deposit. Therefore, the users can also attach their salary account to the Recurring Deposit to avoid the late deposits.
In India Axis Bank is the third largest private sector bank. The headquarters of Axis Bank is located at Mumbai. Axis Bank is also listed in London Stock Exchange. There are many branches and ATM’s in India. Axis Bank is offering high-interest rates for Recurring Deposits. Every individual can check their maturity amount with the help of the RD Calculator. For the sake of people, we are providing the Axis Bank RD account opening procedure and RD Calculator usage on this page. So, read the below sections carefully to know those details.
Axis Bank RD Interest Rates
|Tenure Period||Interest Rate (General Depositors)||Interest Rate (Senior Citizens)|
|1 year to < 13 months||7||7.5|
|13 months to < 14 months||7||7.5|
|14 months to < 15 months||7||7.5|
|15 months to < 16 months||7||7.5|
|16 months < 17 months||7||7.5|
|17 months < 18 months||7||7.5|
|18 Months < 2 years||7||7.5|
|2 years < 30 months||6.75||7.25|
|30 months < 3 years||6.75||7.25|
|3 years < 5 years||6.75||7.25|
|5 years to 10 years||6.75||7.25|
Recurring Deposit Schemes – Axis Bank
The Axis Bank is offering many schemes for Recurring Deposit. They are Short Term Scheme, Medium Term Scheme, Long Term Scheme and Senior Citizens Schemes. Therefore, the brief description of those schemes is given below. Hence, follow the below sections to know about the Recurring Deposit Schemes.
Axis Bank Short Term Scheme
- In Axis Bank, the short-term Recurring Deposit Tenure period starts from 1 year to less than 2 years.
- The interest rate of Axis Bank Recurring Account is 7.25%per annum.
- For a tenure period of 2 years to 3 years, the interest rate is 7.25% per annum.
Medium and Long Term RD
- At high-interest rates, Axis Bank is offering medium and long term deposit schemes.
- In the medium term, the tenure period starts from 3 years to 5 years.
- In Long Term Deposit, the tenure period ranges from 5 years to 10 years.
- The maximum tenure period of Long Term is 10 years.
- The interest rate of medium term and long term deposit is 7.25% per annum.
Senior Citizens Recurring Deposit Interest rates
- The interest rates of senior citizens are high in all banks.
- Axis Bank is also offering High-interest rates for Senior citizens.
- For a tenure period of 12 months to 2 years, the interest rate is 8% per annum.
- If the tenure period is 2 years to 3 years, the interest rate of Recurring Deposit is 7.75% per annum.
- For 3 years to 5 years, the Recurring Deposit interest rate is 8.00% per annum.
- The interest rate is 7.7% per annum for a tenure period of 5 years to 10 years.
NRI and NRE Recurring Deposit Interest Rates
- Axis Bank allows NRI’s and NRE’s for opening a Recurring Deposit Account.
- The tenure period of NRI and NRE Recurring Deposit is not less than 1 year to not more than 10 years.
- Every individual can make a minimum deposit of Rs.1000.
How To Use Axis Bank RD Calculator
The individuals who want to know their recurring deposit maturity amount can use this Axis Bank RD Calculator. The usage of Axis Bank Recurring Deposit Calculator is given below. Therefore, the individuals can follow the below steps to calculate their maturity amount. To calculate the maturity amount, you have to know the interest rates and tenure periods of Recurring Deposit. The RD Account Holders can also know their installment amount by using RD Installment Calculator. Hence, follow the below processing steps for Calculating the Recurring Deposit Maturity Amount.
- First of all, go to the Axis Bank official website.
- Search for the RD Calculator link.
- The Axis Bank RD Calculator appears on the screen.
- Enter the necessary details like interest rate, tenure period, maturity amount, etc.
- Click on the Calculate Button.
- Finally, your Recurring Deposit Maturity amount appears on the screen with the help of Axis Bank RD Calculator.
To know furthermore details about the Axis Bank RD Calculator, you can check the below link:
How to Open Axis Bank RD Account
If you do not know the process of Axis Bank Recurring Deposit Account Opening, you can learn here. Therefore, we are providing the Account opening process in the below sections. So, the interested candidates can follow the below steps to know the process of Recurring Deposit Account Opening.
- First of all, go to any branch of Axis Bank.
- Take the Recurring Deposit Account Opening Form.
- Fill the necessary details in the application form.
- Attach the necessary documents to the application form.
- Submit the RD Account opening form in the bank.
- They will activate your Axis Bank Recurring Deposit Account.
The users can open a new account in 2 ways. They are the Online process and offline process. Therefore, the individuals who want to know the 2 processing methods have to check the below link.
Documents Required for RD Account
The users have to submit the below documents while applying for a new Recurring Deposit Account. If you are applying through offline, you have to submit the necessary documents compulsory. For the Online process, there is no need of any documents. So, check the below-listed documents carefully to gather the certificates.
- Passport which contains the details like, name, photo change, address, date of birth, signature, and other primary details.
- Passport size photo along with the overseas address.
- PAN Card or Permit Card which was issued by the India government.
- Proof of NRI status or using employment or residence.
Recurring Deposit Premature Withdrawals
There is no penalty for Recurring Deposit in Axis Bank. In a case of domestic RD Accounts, 1% is deducted from their interest rates due to the premature withdrawals. Therefore, no penalty is applicable for first 14 days term period. For a Deposit of Rs.5 crores, a penalty will apply to the RD Account through the standard rates.
Features & Benefits Of Axis Bank RD
- The minimum deposit should be starting from Rs.1000.
- The Axis Bank minimum tenure period is 12 months.
- The Recurring Deposit Interest rates are high compared to other banks.
- For premature withdrawals, the penalty deducted from the maturity amount is 1%.
- The Penalty is not applicable if you withdrawal the money within 14 days from the day of the Account opening.
- Hence, the Senior citizens have more interest rates compared with the regular depositors.