An NRI FD is a type of fixed-income securities for Indians who live abroad, allowing them to earn tax-free and high-yielding returns on their foreign income. A popular low-risk investment option for NRIs, this type of FD generally comes in various types and is offered by most banks and financial institutions in India. Let’s discuss the varying AXIS NRI FD rates and tenures applicable to different types of NRI FDs offered in 2024.
AXIS Bank offers its customers a wide range of fixed deposit schemes, including 4 types of NRI FDs. Catering to different financial requirements of foreign investors, each of its types has varying features, interest rates and tenures. These fixed deposits are ideal for NRIs to grow their savings and generate assured returns till maturity.
Axis NRI FD Rates 2024
Take a look at the varying AXIS NRI FD rates applicable to different accounts that a `Non-Resident Indian can open and operate in 2024.
Axis Bank NRE Fixed Deposit Rates under ₹2 Crore
Tenure
Interest Rate
1 year to 1 year 4 days
6.70%
1 year 5 days to 1 year 10 days
6.70%
1 year 11 days to 1 year 24 days
6.70%
1 year 25 days to less than 13 months
6.70%
13 months to less than 14 months
6.70%
14 months to less than 15 months
6.70%
15 months to less than 16 months
7.10%
16 months to less than 17 months
7.10%
17 months to less than 18 months
7.10%
18 months to less than 2 years
7.10%
2 years to less than 30 months
7.10%
30 months to less than 3 years
7.10%
3 years to less than 5 years
7.10%
5 years to 10 years
7.00%
Axis Bank NRE Fixed Deposit Rates above ₹2 Crore
Tenure
Interest Rate
1 year to 1 year 4 days
7.25%
1 year 5 days to 1 year 10 days
7.25%
1 year 11 days to 1 year 24 days
7.25%
1 year 25 days to less than 13 months
7.25%
13 months to less than 14 months
7.25%
14 months to less than 15 months
7.25%
15 months to less than 16 months
7.05%
16 months to less than 17 months
7.05%
17 months to less than 18 months
7.05%
18 months to less than 2 years
7.05%
2 years to less than 30 months
7.00%
30 months to less than 3 years
7.00%
3 years to less than 5 years
7.00%
5 years to 10 years
7.00%
Axis Bank NRO Fixed Deposit Rates under ₹2 Crore
Tenure
Interest Rate
7 days to 14 days
3.00%
15 days to 29 days
3.00%
30 days to 45 days
3.50%
46 days to 60 days
4.25%
61 days to less than 3 months
4.50%
3 months to less than 4 months
4.75%
4 months to less than 5 months
4.75%
5 months to less than 6 months
4.75%
6 months to less than 7 months
5.75%
7 months to less than 8 months
5.75%
8 months to less than 9 months
5.75%
9 months to less than 10 months
6.00%
10 months to less than 11 months
6.00%
11 months to 11 months 24 days
6.00%
11 months 25 days to less than 1 year
6.00%
1 year to 1 year 4 days
6.70%
1 year 5 days to 1 year 10 days
6.70%
1 year 11 days to 1 year 24 days
6.70%
1 year 25 days to less than 13 months
6.70%
13 months to less than 14 months
6.70%
14 months to less than 15 months
6.70%
15 months to less than 16 months
7.10%
16 months to less than 17 months
7.10%
17 months to less than 18 months
7.10%
18 Months to less than 2 years
7.10%
2 years to less than 30 months
7.10%
30 months to less than 3 years
7.10%
3 years to less than 5 years
7.10%
5 years to 10 years
7.00%
Axis Bank NRO Fixed Deposit Rates above ₹2 Crore
Tenure
Interest Rate
7 days to 14 days
4.80%
15 days to 29 days
5.00%
30 days to 45 days
5.50%
46 days to 60 days
5.75%
61 days to less than 3 months
6.00%
3 months to less than 4 months
6.50%
4 months to less than 5 months
6.50%
5 months to less than 6 months
6.50%
6 months to less than 7 months
6.65%
7 months to less than 8 months
6.65%
8 months to less than 9 months
6.65%
9 months to less than 10 months
6.75%
10 months to less than 11 months
6.75%
11 months to 11 months 24 days
6.75%
11 months 25 days to less than 1 year
6.75%
1 year to 1 year 4 days
7.25%
1 year 5 days to 1 year 10 days
7.25%
1 year 11 days to 1 year 24 days
7.25%
1 year 25 days to less than 13 months
7.25%
13 months to less than 14 months
7.25%
14 months to less than 15 months
7.25%
15 months to less than 16 months
7.05%
16 months to less than 17 months
7.05%
17 months to less than 18 months
7.05%
18 Months to less than 2 years
7.05%
2 years to less than 30 months
7.00%
30 months to less than 3 years
7.00%
3 years to less than 5 years
7.00%
5 years to 10 years
7.00%
Axis Bank FCNR Fixed Deposit Rates
Tenure
Interest Rates
USD
GBP
Euro
CAD
AUD
JPY
1 year and above but less than 2 years
5.60%
4.00%
2.90%
4.20 %
3.70%
0.01%
2 years and above but less than 3 years
4.30%
3.75%
0.01%
3.50%
3.75%
0.01%
3 years and above but less than 4 years
4.10%
2.45%
0.01%
3.45%
3.80%
0.01%
4 years and above but less than 5 years
4.10%
2.45%
0.01%
3.35%
4.00%
0.01%
5 years
4.10%
2.45%
0.01%
3.30%
4.05%
0.01%
Axis Bank RFC Fixed Deposit Rates
Tenure
GBP
USD
EURO
AUD
CAD
30 days to less than 3 months
0.15%
0.15%
0.01%
0.30%
0.35%
3 months to less than 6 months
0.15%
0.25%
0.01%
0.30%
0.35%
6 months to less than 12 months
0.15%
0.30%
0.01%
0.30%
0.35%
12 months and above but less than 2 years
4.00%
5.60%
2.90%
3.70%
4.20%
2 years and above but less than 3 years
3.75%
4.30%
0.01%
3.75%
3.50%
3 years and above but less than 4 years
2.45%
4.10%
0.01%
3.80%
3.45%
4 years and above but less than 5 years
2.45%
4.10%
0.01%
4.00%
3.35%
5 years
2.45%
4.10%
0.01%
4.05%
3.30%
Features and Benefits of AXIS Bank NRI Fixed Deposit
Here is a list of features and benefits you need to know before opening a NRE/NRO/FCNR/RFC account under the AXIS Bank NRI Fixed Deposit scheme.
AXIS Bank NRI Fixed Deposit offers flexible tenures, ranging from 7 days to 10 years.
By investing in this type of fixed deposit scheme, NRIs can earn higher interest income at attractive rates and negibile risks.
Besides attractive AXIS Bank NRE FD rates, this type of FD scheme is designed with no upper limit deposit requirement, allowing NRIs to invest their foreign income freely.
The amount invested in an AXIS Bank Fixed Deposit account and the interest income are fully repatriable.
Non-resident individuals holding NRE and FCNR (B) accounts under AXIS Bank NRI FD scheme are eligible to avail tax-free returns on their investment.
The bank allows NRIs to choose their preferred option of calculating interest between simple and compound interest.
It offers multiple interest payout options, including monthly, quarterly and on maturity.
Conclusion
Hopefully, now you have a clear idea of the varying Axis NRI fd rates and tenures applicable to different NRI fixed deposits in 2024. Before investing, make sure to verify these rates and go through all the terms and conditions associated with your desired NRI FD.
FAQs
Is AXIS Bank NRE FD auto-renewed after maturity?
Yes, the AXIS Bank NRE FD account is auto-renewed upon reaching the maturity date. For this, a depositor must avail of the auto-renewal option and provide the necessary details.
Can I apply for a loan/overdraft against NRO FD in AXIS Bank?
Yes, you can apply for a loan/overdraft against your NRO FD made with AXIS Bank. However, this facility is only available for personal purposes and business activities such as agriculture, real estate and lending.
Can I transfer my FD investment from FCNR to the NRE account in AXIS Bank?
Yes, all eligible entities are allowed to transfer their FD investment from the FCNR account to the NRE account if required.
What documents are required to avail of AXIS NRE FD rates?
To avail the high-yielding AXIS NRE FD rates, an applicant has to submit a set of documents. This set of documents includes a valid Indian Passport, Proof of NRI Status, PAN Card or Form 60 and communication address proof.
Who is eligible to open and operate an AXIS Bank NRI FD?
Non-resident Indians (NRIs) and Persons of Indian Origin (PIO) or Overseas Citizens of India (OCI) are the eligible entities who are allowed to open and operate an NRI FD account.
