Maturity: ₹1,15,11,420 at 7.1% p.a. Interest earned: ₹15,11,420. Senior citizen maturity: ₹1,16,25,014.
| Year | Deposit | Interest Earned | Maturity Value |
|---|
A ₹1 Crore Fixed Deposit in Axis Bank for 2 Years at 7.1% p.a. (quarterly compounding) will mature to ₹1,15,11,420. You earn ₹15,11,420 as interest, giving a total return of 15.1% on your investment.
At 7.1% p.a. (quarterly compounding), ₹1 Crore FD in Axis Bank for 2 Years matures to ₹1,15,11,420. Interest earned: ₹15,11,420. Senior citizen maturity: ₹1,16,25,014 at 7.6%.
Axis Bank offers 7.1% p.a. for general citizens and 7.6% p.a. for senior citizens on 2 Years Fixed Deposit. The rate applies regardless of the deposit amount.
For ₹1 Crore at 7.1% for 2 Years, you would earn approximately ₹15,11,420 as interest, making total maturity ₹1,15,11,420. Senior citizens earn ₹16,25,014 at 7.6%.
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.