The Axis Bank is the third largest private sector bank in India. It is one of the most entrusted banks in India. It has provided the best products and services to the people. It especially has upheld in the retail banking sector and has all the needed and required. It has always given all types of options to its customers. The bank provides the deposit option which has all types of deposits that the customer can opt to make the investment.

Axis bank fixed deposit is one such product that demands all types to open an account for it. The one very easy method to do it is Fixed deposit online process.

There are many other features that are required to look at before opening the fixed deposit account. The minimum amount that is required to open the fixed deposit account is ₹ 10,000 and there is no maximum limit. The account can be opened for the range of 7 days to 10 years. The other important thing is that the fixed deposit can be used to avail the loan against it. There are other benefits that can be availed by it. The FD are used as the investment that gives you the tax deduction options. The other feature is that it can be reinvested.

Before applying for the opening of the fixed deposit account the depositor needs to fulfill certain eligibility criteria and submit the documents at the time of opening the FD account.

Eligibility Factors:

To have a fixed deposit account you need to fulfill certain criteria and then you will be eligible to deposit the amount in the bank to earn the good rate of interest from them. Below mentioned individual or group are eligible for a fixed deposit

  • The applicant should be the Resident of India.
  • Hindu undivided families
  • Sole proprietorship firms
  • Partnership firm
  • Private limited companies
  • Trust accounts

Documents required:

The documents required by the individual, Hindu undivided family, and sole proprietorship while applying for the fixed deposit are:

  • A colored photograph
  • Passport/ Driving License
  • Last six months bank account details

Documents required from the trusts for a fixed deposit are as follow:

  • Photographs of the member operating the account.
  • A copy of the Trust Deed.
  • A copy of Registration Certificate.
  • A copy of the resolution of trustee authorizing the member to operate and open the accounts.

Documents required from the  association/ clubs for the fixed deposit are as follow:

  • Photographs of the member operating the account.
  • A copy of the Bye- laws of the association.
  • Copy of the resolution of trustee authorizing the member to operate and open the accounts.

Documents required from the partnership firm for the fixed deposit are as follow:

  • Photographs of the persons operating the account.
  • Partnership Deed
  • Letter from the partners approving the person to operate and open the account.

Once you are sure that all the above category is met and you have the documents that are valid and legal. Next step is to be sure what is the amount that you want to deposit and for what time period. The tenure will decide the amount of interest rate that will be levied on your amount deposited. For Axis bank FD, the rate of interest that are given are mentioned  below

Fixed deposit Interest rate in Axis bank:

  • 7 days to 45 days the rate of interest is 3.50%
  • 30 days to 45 days the rate of interest is 5.50%
  • 46 days to 3 months the rate of interest is 6.00%
  • 3 months to less than 6 months the rate of interest is 6.25%
  • 6 months to less than 9 months the rate of interest is 6.50%
  • more than 9 months to less than 1 year the rate interest is 6.75%
  • 1 year to less than 2 years the rate of interest is 7.00%
  • 2 years to 10 years the rate of interest is 6.75%

How to Apply online?

There are two ways that can be followed by the depositor and open the account.

By Internet Banking:

Login to the internet banking and select the deposit option. Select the create Fixed deposit option. Fill the form providing all the required details and nominee. On confirmation, the mentioned amount will be debited from the savings account directly. You will receive the web receipt of the Fixed deposit booked instantly. The FD advice will be mailed post creation of the account if you are registered for the e-mails. If not, then it will send to the address in physical form.

By mobile banking:

Log in to the mobile banking and select the deposit option. Click the create Fixed deposit option. Fill the form providing all the required details and nominee. On confirmation, the mentioned amount will be debited from the savings account directly. You will receive the web receipt of the Fixed deposit booked instantly. The FD advice will be mailed post creation of the account if you are registered for the e-mails. If not, then it will send to the address in physical form.

Thus, the Axis bank fixed deposit apply online is one of the best ways to open the FD instantly and deposit the amount to see it grow with time.

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