Savings Calculators
Axis Bank RD Calculator
Axis Bank, one of India's leading private-sector banks, offers recurring deposits that let you save a fixed amount every month and earn a guaranteed return at rates linked to its fixed-deposit card. Axis RDs run from 6 months to 10 years, and deposits are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to ₹5 lakh per depositor. Use this Axis RD calculator to estimate your maturity value and interest earned — enter your monthly deposit, an indicative interest rate and tenure to see your returns with quarterly compounding.
- Invested
- ₹3,00,000
- Interest Earned
- ₹60,615
Maturity Value
₹3,60,615
- Invested83%
- Interest Earned17%
Formula
M = R × [((1 + i)ⁿ − 1) ÷ i] × (1 + i), where i = (1 + r/4)^(1/3) − 1
- R
- Fixed monthly deposit paid into the Axis Bank RD.
- i
- Effective monthly rate derived from the quarterly rate r/4.
- n
- Total number of monthly deposits (years × 12).
Axis Bank takes a monthly deposit but compounds interest quarterly, so the quarterly rate is converted to an equivalent monthly rate. The rate shown is indicative — confirm the live RD rate on Axis Bank's website, as it tracks the FD card and varies by tenure. The figure is the gross maturity value before TDS.
Worked example
Suppose you deposit ₹5,000 every month into an Axis Bank recurring deposit at an indicative rate of 7.10% per annum for 5 years (60 deposits), with quarterly compounding.
- Monthly Deposit (R)
- ₹5,000
- Interest Rate (p.a.)
- 7.10% (indicative)
- Tenure
- 5 years (60 months)
You deposit ₹3,00,000 in total. The Axis RD matures to about ₹3,60,615 — meaning roughly ₹60,615 of interest on top of your deposits. Earlier deposits compound for longer, so they contribute the most interest.
Year-by-year growth
Based on the default Axis Bank RD Calculator values above. The final year matches the maturity value shown by the calculator — change the inputs to project your own plan.
- Total invested
- ₹3,00,000
- Interest earned
- ₹60,615
- Maturity value
- ₹3,60,615
- Value / invested
- 1.20×
Over 5 years, your ₹3,00,000 grows to about ₹3,60,615 — roughly 1.20× what you put in, thanks to compounding.
| Year | Invested | Interest earned | Maturity value |
|---|---|---|---|
| 1 | ₹60,000 | ₹2,344 | ₹62,344 |
| 2 | ₹1,20,000 | ₹9,234 | ₹1.29 Lakh |
| 3 | ₹1,80,000 | ₹21,001 | ₹2.01 Lakh |
| 4 | ₹2,40,000 | ₹38,001 | ₹2.78 Lakh |
| 5 | ₹3,00,000 | ₹60,615 | ₹3.61 Lakh |
How this Axis RD calculator works
Move the monthly deposit, interest rate and tenure sliders to see your Axis RD maturity value and interest earned update in real time, with a breakdown of deposits versus interest. The rate begins at an illustrative 7.10% — set it to the rate Axis Bank quotes for your tenure. The calculator converts the quarterly rate to an effective monthly rate, so each deposit earns exactly the interest it should for the months remaining.
Why an Axis recurring deposit
An Axis RD suits savers who want FD-grade certainty but prefer to build the corpus from monthly income rather than a single lumpsum. The rate is locked in at booking, the maturity amount is predictable, and DICGC cover protects up to ₹5 lakh. For a lumpsum you already hold, an Axis FD may fit better; for long-term, growth-oriented goals, compare with a market-linked SIP.
Tips for Axis RD savers
- Set a sustainable instalment you can maintain through the full tenure to avoid default penalties.
- Use Axis NetBanking or the mobile app to auto-debit the deposit each month.
- Match the tenure to your goal so the RD matures when you need the funds.
- Claim the senior-citizen rate if eligible to lift the maturity value.
- Plan for TDS on the interest when fixing your target corpus.
faq
Frequently asked questions.
What is the minimum Axis RD amount and tenure?
Axis Bank recurring deposits start from ₹500 per month (in multiples of ₹100) and run for tenures from 6 months up to 10 years. The monthly instalment is fixed for the tenure you select. Use the sliders to see how the amount and tenure change your maturity value.
Are Axis RD rates the same as its FD rates?
Axis Bank generally aligns recurring-deposit rates with its fixed-deposit card for the matching tenure, and senior citizens usually receive an additional rate. Confirm the current rate for your tenure on the bank's website before booking.
What happens if I miss an Axis RD instalment?
A missed monthly deposit attracts a small penalty per defaulted instalment, and repeated defaults can lead the bank to close the account prematurely. Setting up auto-debit from your Axis savings account avoids this.
Is Axis RD interest taxable?
Yes. RD interest is taxable as income, and Axis Bank deducts TDS at 10% once your total deposit interest crosses the annual threshold. The maturity value shown is before tax; file Form 15G/15H if your income is below the exemption limit.
Can I close an Axis RD before maturity?
Yes. Premature closure is permitted, but the interest is recalculated at the rate applicable for the period the deposit actually ran, less a penalty, so you earn less than the booked rate. A loan against the RD is an option if you only need short-term liquidity.