Calculate your Axis Bank Recurring Deposit returns instantly. Enter your monthly deposit amount, interest rate, and tenure to see how much your Axis Bank RD will grow with compound interest.
An Axis Bank RD (Recurring Deposit) calculator is a free online financial tool that helps you estimate the maturity amount and total interest earned on your Axis Bank Recurring Deposit. It allows you to plan your monthly savings by showing you exactly how much your money will grow over a specific period at Axis Bank's current interest rates.
Axis Bank is one of India's leading private sector banks and offers a reliable Recurring Deposit scheme with competitive interest rates. The Axis Bank RD calculator simplifies the complex calculations involved in determining the maturity amount with compound interest.
How Does the Axis Bank RD Calculator Help?
The Axis Bank RD calculator uses a compound interest formula to compute the maturity amount based on the variables you enter. It takes three key inputs:
Monthly Deposit (P) — The fixed amount you deposit every month
Interest Rate (r) — The annual interest rate offered by Axis Bank (currently 7.00% for regular citizens)
Tenure (t) — The duration for which you want to save (6 months to 10 years)
The calculator instantly processes these inputs and displays the total investment, interest earned, and maturity amount along with a visual breakdown through a donut chart.
About Axis Bank Recurring Deposit
Axis Bank is India's third-largest private sector bank and offers a well-structured Recurring Deposit scheme. Here is a quick snapshot of Axis Bank RD features:
Feature
Details
Minimum Deposit
₹500 per month
Maximum Deposit
No upper limit (in multiples of ₹100)
Tenure Range
6 months to 10 years
Interest Rate (Regular)
7.00% p.a.
Sr. Citizen Benefit
Additional 0.50% on select tenures
Compounding
Quarterly
Loan Facility
Available (up to 85% of deposit)
Nomination
Available
TDS
Applicable if interest exceeds ₹40,000 (₹50,000 for senior citizens) per year
Axis Bank RD accounts can be opened at any branch or through Axis Internet Banking and Axis Mobile app. The bank offers both regular and online RD options. The auto-debit facility ensures your monthly installment is automatically deducted from your Axis savings account.
Axis Bank also offers a special variant for its priority banking customers with potentially higher interest rates. Premature withdrawal is allowed with applicable penalty charges on the interest rate.
How to Use the Axis Bank RD Calculator
Using the Axis Bank RD calculator is simple and takes just a few seconds:
Step 1: Enter the monthly investment amount you wish to deposit (₹100 to ₹1,00,000)
Step 2: Enter the annual interest rate (Axis Bank currently offers 7.00% for regular citizens)
Step 3: Select the tenure (investment period) from 1 to 10 years
The calculator will instantly display your total investment, interest earned, and maturity amount along with a visual chart showing the breakdown of your deposits vs. returns.
Benefits of Axis Bank Recurring Deposit
Competitive Interest Rates: Axis Bank offers attractive RD rates of 7.00% p.a. for regular citizens
Flexible Tenure: Choose from 6 months to 10 years, giving flexibility for short and long-term goals
Online RD Booking: Open and manage your RD through Axis Internet Banking or Axis Mobile app
DICGC Insurance: Deposits are insured up to ₹5 lakh by DICGC, a subsidiary of RBI
Auto-Debit Facility: Monthly installments are automatically deducted from your Axis savings account
Loan Against RD: Avail a loan of up to 85% of the deposit amount without breaking the RD
Senior Citizen Benefits: Senior citizens get an additional 0.50% interest rate on Axis Bank RDs
Why Choose Axis Bank for Recurring Deposit?
Axis Bank is India's third-largest private sector bank, known for its strong digital infrastructure and customer service. Here are key reasons to choose Axis Bank for your RD:
Strong Digital Banking: Axis Mobile app and Internet Banking provide a seamless digital experience for RD management
Wide Network: Over 4,900 branches and 16,000+ ATMs across India
Competitive Rates: Attractive interest rates of 7.00% p.a. with additional benefits for senior citizens
Priority Banking Benefits: Special rates and services for priority banking customers
Reliable Service: Consistently rated among the top private banks in India for customer satisfaction
Book FDs up to 8.30% on Y1 Money — Y1 Money partners with RBI-regulated banks to offer high-interest fixed deposits. Book an FD in under 2 minutes, no new bank account needed. All deposits insured up to ₹5 lakh by DICGC.
Frequently Asked Questions
Axis Bank currently offers 7.00% per annum on Recurring Deposits for regular citizens. Senior citizens may get an additional 0.50% on select tenures. The interest is compounded quarterly. Rates may vary based on tenure and are subject to change.
You can open an Axis Bank Recurring Deposit with a minimum monthly installment of ₹500. The deposit amount should be in multiples of ₹100. There is no upper limit on the monthly deposit amount.
Yes, you can open an Axis Bank RD online through Axis Internet Banking or the Axis Mobile app. You can also set up auto-debit from your Axis savings account for hassle-free monthly deposits.
Yes, premature withdrawal of Axis Bank RD is allowed. However, a penalty is charged on the applicable interest rate. The interest rate applied will be the rate for the period the deposit has been held, minus the penalty. Check with the bank for current penalty rates.
Yes, Axis Bank allows you to avail a loan of up to 85% of the RD deposit amount. This is a convenient way to meet urgent financial needs without breaking your RD and losing out on interest earnings.
Yes, TDS at 10% is deducted if the total interest earned on all your deposits (FD + RD) with Axis Bank exceeds ₹40,000 in a financial year (₹50,000 for senior citizens). You can submit Form 15G/15H to avoid TDS if your total income is below the taxable limit.
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