Axis Bank Domestic Bulk Term Deposits

Axis Bank Domestic Bulk Term Deposits

Axis Bank Domestic Bulk Term Deposits comes as a principal investment instrument if you are planning to earn high returns. If you intend to invest your hard-earned money in fixed deposits, move forward with Axis Bank term deposits. With Axis Bank FDs, you get competitive interest rates and twice the benefits of other investment tools. You may produce significant returns and competitive interest rates with this fixed deposit scheme.

Before investing, it is essential to know about Axis Bank’s Domestic Bulk Term Deposit FD and how to open an FD account with them.

Axis Bank Domestic Bulk Term Deposits

Axis Bank Domestic Bulk Term Deposits is an investment plan which allows you to start investing with an amount as low as Rs.5000. You can open a Domestic Bulk Term Deposit FD account conveniently from your home. You get the flexibility to choose an investment time frame ranging from 7 days to 20 years. It offers a return on investments starting from 3.10% up to 5.85%.

Additionally, the scheme comes with a lock-in period of 1,825 days.

Now, you can easily meet your long-term financial obligations through this Domestic Bulk Term Deposit FD offered by Axis Bank.

The table below pertains to the various schemes provided and the terms of Axis Bank Domestic Bulk Term Deposits.

Scheme name	Domestic Bulk Term Deposits
CRISIL Rating	AAA
Lock-in Days	1825
Loan Against FD	Not Available
Premature Withdrawal	Not Available, but if you decide to make a premature withdrawal, you will have to bear a penalty on the same.
FD Nominee	Yes
Investment Tenure	7 Days – 10 Year and 2 Days
Interest Rates for General Public	3.10% – 5.85 %
Interest Rates for Senior Citizen	3.10% – 6.60 %

Axis Bank Domestic Bulk Term Deposits Interest Rate

Axis Bank is now offering 2.50 per cent interest on term deposits with maturities between 7 and 29 days, 3 per cent for deposits with maturities between 30 days to 3 months, and 3.5 per cent for fixed-rate deposits with maturity tenure ranging between 3 months and less than 6 months. This is regarding the most recent change for deposits under Rs. 2 crores. On FDs with maturities between six months and less than one year, Axis Bank offers an interest rate of 4.40 per cent.

Other banks offer interest returns between 5.10 and 5.15 per cent on deposits with maturities of 1 year, 1 year 5 days and 1 year 11 days. On the other hand, Axis Bank is currently promising an interest rate of 5.20% for deposits that mature in a year and range in maturity from 11 days to 13 months. For deposits that mature in 13 months or less than 18 months, the bank now offers an interest rate of 5.10 per cent. The bank presently offers an interest rate of 5.25 per cent on term deposits with maturities between 18 months and 2 years.

On deposits maturing in 2 years or less than 5 years and 5 years or more, the bank offers interest rates of 5.40 per cent for the general public, whereas for senior citizens, the rate clocks at 5.75 per cent. Senior citizens will keep getting this additional 0.50 per cent bonus on savings maturing in 6 months to 10 years. For FDs maturing in 7 days to 10 years, senior citizens will secure an interest rate of 2.5 per cent to 6.50 per cent.

Eligibility Criteria

To get Axis Bank Domestic Bulk Term Deposit FD with utmost ease, you must satisfy the below-mentioned eligibility criteria:

• Must be an Indian Resident
• Sole Proprietorship Firms, Traders, and Partnership Firms
• Member of Hindu Undivided Family (HUF)
• Limited(LTD.) Companies and Trusts

Documents Required

To open an Axis Bank FD account through the online or offline procedure, you need to provide a set of said documents, including

• Government-approved ID card (Voter ID, Drivers License, Passport, PAN)
• Documents associated with residential proof (Aadhaar Card, Passport, Drivers License etc.)
• PAN Card along with bank account details
• Form 15G/15F ( to outline TDS exemption)
• Latest photos (passport-size)

Features & Benefits

When you count on Axis Bank Domestic Bulk Term Deposit FD to accomplish your short to long term financial obligations, you get access to numerous other benefits.  Here are some of the features and benefits that you can get with Axis Bank Fixed Deposits:

• It offers an automated roll-over facility on the secured returns for both principal as well as interest amounts.
• Flexible investment time frame ranging from 7 days to 10 years.
• You can start investing with a small amount starting from Rs. 5000.
• Open an Axis Bank fixed deposit account online from the comfort of your home or by visiting the nearest branch.
• Hassle-free money transactions from your savings account to a fixed deposit account.
• Lock-In period of 1,825 days.
• CRISIL rating of AAA.
• Secure return on investment starting from 3.10% to 5.85% for general citizens and 3.10% to 6.60% for senior citizens.

How to Apply for Domestic Bulk Term Deposits

You can apply for the Axis Bank Domestic Bulk Term Deposits offline or online at your convenience. Here is what you must do for both case scenarios.

Apply Online

The Axis Bank allows you to apply for the Domestic Bulk Term Deposits from the comfort of your home. Follow the below-mentioned steps to invest in Domestic Bulk Term Deposits online:

• Visit the official Axis Bank portal and sign In through your credentials
• From the available sections, click on the ‘Deposit’ option.
• Choose the type of FD you want to invest in and click on the ‘Create Domestic Bulk Term Deposit’ option.
• Provide details of the nominee along with the account details.
• Upload scanned copies of required documents.
• Once you specify the investment amount, click on proceed.

You are done with your part. The investment amount will be deducted from your savings account and transferred to your new Axis Bank Domestic Term Deposit account every month.

You will receive the receipt for the same on your registered email ID. Additionally, if you selected the e-statement service while applying, the same will be delivered to your address.

Apply Offline

To apply for Axis Bank Domestic Bulk Term Deposits through the offline process; you must follow the steps mentioned below:

• Make an in-person visit to the nearest Axis Bank branch.
• Get in touch with a bank representative and ask for the application form.
• Fill in the required details in the application form and attach hard copies of the required documents.
• Pay the initial investment amount and get the receipt for the same.