Maturity: ₹2,14,161 at 6.9% p.a. Interest earned: ₹14,161. Senior citizen maturity: ₹2,15,216.
| Year | Deposit | Interest Earned | Maturity Value |
|---|
A ₹2 Lakh Fixed Deposit in Axis Bank for 1 Year at 6.9% p.a. (quarterly compounding) will mature to ₹2,14,161. You earn ₹14,161 as interest, giving a total return of 7.1% on your investment.
At 6.9% p.a. (quarterly compounding), ₹2 Lakh FD in Axis Bank for 1 Year matures to ₹2,14,161. Interest earned: ₹14,161. Senior citizen maturity: ₹2,15,216 at 7.4%.
Axis Bank offers 6.9% p.a. for general citizens and 7.4% p.a. for senior citizens on 1 Year Fixed Deposit. The rate applies regardless of the deposit amount.
For ₹2 Lakh at 6.9% for 1 Year, you would earn approximately ₹14,161 as interest, making total maturity ₹2,14,161. Senior citizens earn ₹15,216 at 7.4%.
Yes, premature withdrawal is allowed. Axis Bank's policy: 1% penalty on applicable rate. You will receive a reduced interest rate on early withdrawal.
Compare with other banks on this page to find the best rates. Bank FDs offer DICGC insurance up to \u20B95 Lakh. Consider both rate and safety.