Under Section 80C of the Income Tax Act, deposits up to INR 1,50,000 qualify for a tax deduction. The Tax Saver FD scheme offers attractive interest rates on lump sum investments and also the benefit of tax saving.
Axis Bank Fixed deposit schemesįollowing are the types of Axis Bank fixed deposit schemes: The interest computation is done on a quarterly basis. In other words, the interest accrued on the fixed deposit each quarter is invested along with the principal. Or paid out to a different account.ĭepositors can earn more interest with interest reinvestment.
Furthermore, the scheme offers an auto roll out facility, where the fixed deposit interest is credited to the designated account. The scheme offers competitive interest rates to both long and short term fixed deposit investments. Also, the account offers an easy transfer facility from a savings account to a fixed deposit. This article covers Axis bank FD, its features and interest rates in detail.Īxis Bank Fixed Deposit (FD) is one of the most convenient and safe ways to grow savings. One can invest in Axis Bank FDs in a hassle-free manner, enjoy their flexible tenures, and seamless transfers with just a minimum investment of INR 5,000. The interest rate on Axis Bank FDs is higher than their savings account. Axis Bank offers multiple fixed deposits for various tenures with different interest rates to its investors.
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