For NRIs planning to keep savings in India, Axis Bank currently offers NRE and NRO Fixed Deposit rates up to 6.45% p.a. on deposits below ₹3 Crores. The bank provides options tenures ranging from 1 year to 10-years.
You can check the latest official rates from the Axis Bank NRI FD Rate Sheet .
Rates Updated: 31 May 2026
| NRE FD Tenure | Interest Rate |
|---|---|
| 1 Year – 1 Year 10 Days | 6.25% |
| 1 Year 11 Days – Less than 13 Months | 6.25% |
| 13 Months – Less than 15 Months | 6.25% |
| 15 Months – Less than 18 Months | 6.45% |
| 18 Months – Less than 2 Years | 6.45% |
| 2 Years – Less than 3 Years | 6.45% |
| 3 Years – Less than 5 Years | 6.45% |
| 5 Years – 10 Years | 6.45% |
| NRO FD Tenure | Regular Rate | Senior Citizen |
|---|---|---|
| 7 Days – 45 Days | 3.00% – 3.25% | 3.50% – 3.75% |
| 46 Days – 179 Days | 4.00% – 5.00% | 4.50% – 5.50% |
| 180 Days – 210 Days | 5.50% | 6.00% |
| 211 Days – Less than 1 Year | 5.50% – 5.75% | 6.00% – 6.25% |
| 1 Year – Less than 15 Months | 6.25% | 6.75% |
| 15 Months – Less than 18 Months | 6.45% | 6.95% |
| 18 Months – 10 Years | 6.45% | 6.95% – 7.25% |
📌 Important Axis Bank NRI FD Rules
- NRE Fixed Deposits can only be opened for a minimum tenure of 1 year
- Interest earned on eligible NRE deposits is generally tax-free in India
- NRO deposits can be opened from 7 days onwards
- Senior citizen additional interest benefits are available only on eligible NRO deposits
- Both principal and interest in NRE accounts are generally fully repatriable overseas
💡 NRI Tip: Many overseas Indians prefer the 15 Months to 5 Years NRE FD range because it offers Axis Bank’s highest retail NRE rate while keeping interest earnings tax-efficient in India.
📌 Quick Insight: Investors with deposits between ₹3 Crores and ₹5 Crores may qualify for Axis Bank FD Plus (Non-Callable FD), where rates can go up to 6.60% on selected long-term tenures.
⚠ Important: NRE deposits are meant for overseas income, whereas NRO deposits are generally used for rent, pension, dividends, property income, and other earnings generated within India.
Read Below: FCNR Deposit Rates • Tax Benefits • NRE vs NRO Accounts • Premature Closure Rules • How To Open an Axis Bank NRI FD
1. Axis FCNR Deposit Rates
Interest Rates (Amounts Below USD 1 Million or Equivalent) –
| Tenure | USD | GBP | EUR | AUD | CAD | JPY |
|---|---|---|---|---|---|---|
| 1 to < 2 Years | 4.00% | 4.10% | 1.65% | 3.75% | 2.30% | 0.01% |
| 2 to < 3 Years | 3.50% | 3.65% | 0.01% | 3.60% | 2.20% | 0.01% |
| 3 to < 4 Years | 3.25% | 3.25% | 0.01% | 3.15% | 2.10% | 0.01% |
| 4 to < 5 Years | 2.95% | 2.95% | 0.01% | 3.15% | 1.95% | 0.01% |
| 5 Years | 2.95% | 2.95% | 0.01% | 2.95% | 1.75% | 0.01% |
FCNR (Foreign Currency Non-Resident) deposits are useful for NRIs who do not want to convert their foreign earnings into Indian Rupees.
In this account, your money stays in the same foreign currency such as USD, GBP, EUR, AUD, CAD, or JPY. This helps you avoid exchange rate risk between the foreign currency and the Indian Rupee.
Key Benefits
- Deposit remains in foreign currency
- Tenure from 1 year to 5 years
- Interest earned is tax-free in India (as per applicable rules)
- Principal and interest can be sent abroad freely after maturity
📌 Example: Suppose Arjun works in Canada and deposits CAD 20,000 in an FCNR account for 1 year. At an interest rate of 2.30% p.a., he earns around CAD 460 as interest. At maturity, he receives about CAD 20,460. Since the deposit remains in Canadian Dollars, he does not need to worry about rupee conversion or exchange rate fluctuations.
2. NRE vs NRO Fixed Deposit: Quick Comparison
Many NRIs compare only the interest (6.25%–6.45%). But the real decision is not rate — it is money origin and tax treatment.
| Point | NRE FD | NRO FD |
|---|---|---|
| Money Source | Foreign salary and overseas savings | Rent, pension, dividend, other India income |
| Tax on Interest | No tax in India | TDS applicable on interest |
| Repatriation | Principal and interest freely transferable abroad | Interest transferable; principal subject to rules |
| Minimum Tenure | 1 year | From 7 days |
| Best For | NRIs earning abroad | NRIs receiving income in India |
Example
Ravi works in Dubai and invests ₹10 lakh in a 3-year FD at 6.45% interest.
| Scenario | Result |
|---|---|
| NRE FD | Full maturity amount received, tax on interest = ₹0 |
| NRO FD | TDS deducted on interest, reducing final returns |
The interest rate may be the same, but the tax treatment is very different.
Easemoney Tip: If the money comes from your overseas salary or savings, an NRE FD is usually the better choice because the interest remains tax-free in India.
3. Documents Required to Open
To open an Axis Bank NRI account or fixed deposit, you need to submit self-attested copies of the following documents:
- Valid Passport showing your personal details, photograph, and signature.
- Visa or NRI Status Proof, such as a work visa, residence permit, employment contract, or student visa.
- Overseas Address Proof, such as a utility bill, credit card statement, or foreign bank statement.
- PAN Card or Form 60 for tax compliance (especially important for NRO accounts).
- Passport-Size Colour Photographs.
Important: If you are living in a country that is not a member of FATF (Financial Action Task Force), your documents may need to be verified and stamped by the Indian Embassy, Consulate, or an approved overseas notary.
4. How to Apply for an Axis Bank NRI FD
Method 1: Existing Axis Bank NRI Customers
If you already have an Axis Bank NRI Savings Account, you can open an FD online within a few minutes.
- Log in to the Axis Mobile App or Axis Internet Banking.
- Go to the Deposit Options section.
- Click on Open NRI Fixed Deposit.
- Select the FD type – NRE, NRO, or FCNR.
- Enter the deposit amount and choose the FD tenure.
- Select your preferred interest option – cumulative or regular payout.
- Accept the terms and conditions and submit the request.
Once completed, your FD is created instantly and the deposit certificate is generated online.
Method 2: New NRI Customers
If you do not have an Axis Bank NRI account yet, follow these steps:
- Visit the Axis Bank NRI website.
- Fill out the NRI account opening application form.
- Download and print the completed form.
- Sign the application and attach all self-attested documents.
- Send the documents to Axis Bank’s Central Processing Cell in India.
You can also submit the application through an overseas Axis Bank representative office available in locations such as Dubai, Singapore, and London.
5. How to Choose Axis Bank NRI FD
Don’t start with the interest rate. Start with what your life situation actually is. Most wrong choices happen because people pick 6.45% first and account type later.
1) First, check where the money comes from
- If salary earned abroad → NRE or FCNR.
- If rent, pension, or property money from India → only NRO.
- Bank also checks this, so it’s not fully optional.
2) Tax matters more than rate
- 6.45% in NRO can become effectively near 4.5% after ~30% TDS.
- But 6.25% in NRE stays 6.25% because tax is zero under income-tax rules.
3) Tenure below 1 year automatically decides account
- If you need FD for 3–6 months, NRE is not even possible.
- Short-term parking always goes to NRO.
4) Think about where you will spend the money later
- Planning house purchase or family expenses in India → NRE works fine.
- Planning to go back abroad or unsure future country → FCNR safer because currency stays same.
5) Understand currency risk (very important but ignored)
- NRE gives higher percentage but rupee value may change.
- FCNR gives lower percentage but protects foreign value.
- Long-stay NRIs (US/Canada) often quietly prefer FCNR for this reason.
6) Repatriation (sending money back)
- NRE → full amount transferable anytime.
- NRO → principal limited to USD 1 million per financial year and paperwork required.
- This becomes important during emergencies or relocation.
7) Choose duration after choosing account
- Highest Axis rate already starts around 15 months.
- Keeping 5-year FD doesn’t increase rate much — it only locks your liquidity.
6. Comparison: Axis Bank vs Other Banks
Axis Bank offers a good balance of interest rates, FCNR returns, and digital banking features. However, it also faces competition from other banks.
| Feature | Axis Bank | SBI Bank | YES Bank |
|---|---|---|---|
| Highest FD Interest Rate | Up to 6.60% p.a. | Up to 6.45% p.a. (444-day FD) | Up to 7.00% p.a. |
| FCNR USD Interest Rate | Up to 4.40% p.a. | Similar industry range | Similar industry range |
| Mobile Banking Experience | Strong digital platform with easy FD and overdraft management | Good but relatively traditional interface | Modern digital banking experience |
| Best For | NRIs looking for a balance of returns and convenience | Customers preferring a large public sector bank | Investors seeking higher FD rates |
What Does This Mean?
- Axis Bank offers slightly higher returns than SBI on many FD tenures.
- YES Bank may offer higher interest rates, but many investors also consider factors like bank size, service quality, and convenience.
- For FCNR deposits, Axis Bank’s USD rates are broadly in line with other major banks.
- The Axis Mobile App makes it easy to open, track, and manage NRE, NRO, and FCNR deposits online.
Easemoney Insight: If your priority is a mix of competitive rates, strong NRI banking services, and easy digital access, Axis Bank remains a strong option among private-sector banks.
Frequently Asked Questions
Is NRI FD taxable in India?
Depends on type. NRE and FCNR interest is tax-free in India under current income-tax rules. NRO interest is taxable; bank deducts about 30.9% TDS automatically unless DTAA documents submitted and verified.
What is the interest rate of Axis Bank NRI FD?
As of 2026, Axis Bank NRE/NRO fixed deposits below ₹3 crore give roughly 3.00% to 6.45% yearly. Highest slab starts around 15-month tenure and continues up to long-term periods.
What is the general FD rate for NRI accounts in India?
Most private banks currently offer about 6.25%–6.75% for NRE/NRO after one year tenure. FCNR rates are lower, near 3–4%, but value depends on exchange movement, not only percentage.
Does Axis Bank provide NRI FD calculator and rate PDF?
Yes, Axis provides an online calculator and downloadable rate sheet. Calculator shows estimated maturity instantly, but final NRO maturity differs slightly because TDS deduction and date-of-booking interest calculation apply.
Can I earn monthly income from Axis NRI FD?
Yes, you can choose monthly or quarterly payout instead of cumulative FD. Many retirees use it for India expenses. Remember, NRO monthly interest will come after tax deduction already applied.
What is the 444-day FD scheme in Axis Bank?
The 444-day scheme is a special domestic resident FD tenure sometimes promoted by the bank. It normally does not apply to NRI deposits; NRE and NRO follow the regular tenure interest slabs instead.
Can I secure an advance overdraft loan against an active Axis FCNR deposit?
Yes. Axis Bank allows instant overdraft financing lines up to 90% against your current locked deposit balance values.
Hope you liked the content. Explore smart options below 👇
🔥 Recommended