Increase your wealth with Axis bank Fixed Deposit

Do you keep the money in your savings account? Do you want to increase your money by investing? Now you can earn more interest on your deposited money and get the good returns. This is possible if you invest in the Axis bank fixed deposit. You can open your fixed deposit account and the put your money in it for the fixed period of time and the bank pays the interest rate over it. The axis bank fixed deposit is one of the safest modes of investing your money to get the high returns. Axis bank is one of the trusted banks in India and it is the third largest private sector bank in India. The people generally refrain from the investments because of the risk that is involved in it. The fixed deposit is devoid of any such risk factors and is very safe. The interest rate accrued on the money is also fix so you are assured of the returns after the fixed time period.

fixed deposit

You can open the fixed deposit account with Axis bank and the minimum amount require to open the fixed deposit is ₹ 10,000 and there is no maximum limit. The fixed deposits are also known as the term deposits and one can invest their money in short term and mid to large term as well. The tenure of the fixed deposit varies from minimum of 7 days to the the maximum of 10 years. There is also the option of reinvestment fixed deposit. The interest rate on the deposited amount is compounded quarterly if the time period is less than that of the 6 months. You can easily transfer your funds from the savings account to a fixed deposit to earn the higher rate of interest.

Eligibility Criteria Required:

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 coloured 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.
  • Copy of the Trust Deed.
  • Copy of Registration Certificate.
  • 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.
  • 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.

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%

The fixed deposit interest rate in Axis Bank for Senior Citizens:

  • 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 6.75%
  • more than 9 months to less than 1 year the rate interest is 7.00%
  • 1 year to less than 2 years the rate of interest is 7.50%
  • 2 years to 10 years the rate of interest is 7.25%

If you want to invest and get the assured money, the fixed deposit is one of the best ways to do so.  And by opening Axis bank fixed deposit, you will be able to get all the desired features and benefits. This will increase your deposited money without any much hassle.

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