Features of Axis Bank Recurring Deposit
Here are the key benefits of choosing Axis Bank RD interest rates for your recurring deposit.
1. Tenure: Axis Bank RDs have tenure ranging from 6 months to 120 months.
2. Deposit Amount: To create an Axis Bank RD account and benefit from it, you must deposit a minimum of 500.
3. Additional Interest: Senior citizens can benefit from an extra 0.50% interest rate of the regular rates.
4. Penalty: Account holders will be charged a late penalty if they do not pay their payments on time. The penalty for late payment is Rs. 10 per Rs. 1000 per month.
5. Premature Withdrawals: Premature withdrawals from an Axis Bank RD are permitted. However, the bank doesn’t allow partial withdrawals.
6. Taxation: TDS deduction on Axis Bank Recurring Deposit interest rates is applicable according to the rules in effect at the time the account is opened.
Axis Bank RD Interest Rates 2024
Axis Bank, India’s third largest private sector bank, provides a comprehensive range of banking products and services, including flexible-tenure Recurring Deposits (RDs). The appealing RD interest rates enable various Axis Bank local and non-resident customers to create a passive and reliable source of income.
Axis Bank Recurring Deposit is an excellent approach to begin saving money every month. Axis Bank offers recurring deposit accounts with tenure ranging from 6 months to 120 months (10 years).
Table of Content
- Axis Bank RD Interest Rates 2024
- Features of Axis Bank Recurring Deposit
- How to Open an RD Account in Axis Bank?
- How to Calculate RD Interest Rates in Axis Bank?
- Eligibility Criteria to Start an RD Account with Axis Bank
- Documents Required for Starting an RD Account
- Axis Bank RD Premature Withdrawal Rules
- FAQs