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SYEDA AFNAIN
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VANDHANA.B
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SUSHMITHA.P
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AXIS BANK
 AXIS BANK

HISTORY:
The bank was founded in December 1993, as UTI Bank, opening its registered office in
Ahmedabad and corporate office in Mumbai. UTI Bank began its operations in 1993, after
the Government of India allowed new private banks to be established. The Bank was promoted
in 1993 jointly by the Administrator of the Unit Trust of India (UTI-I), Life Insurance Corporation of
India (LIC), General Insurance Corporation, National Insurance Company, The New India
Assurance Company, The Oriental Insurance Corporation and United India Insurance Company.
The first branch was inaugurated on 2 April 1994 in Ahmedabad by Dr. Manmohan Singh, the
then Finance Minister of India.
• In 2001 UTI Bank agreed to merge with Global Trust Bank, but the Reserve Bank of
India (RBI) withheld approval and the merger did not happen. In 2004, the RBI put Global
Trust into moratorium and supervised its merger with Oriental Bank of Commerce.
• In 2003, UTI Bank became the first Indian bank to launch a travel currency card. In 2005,
it was listed on London Stock Exchange.
• UTI Bank opened its first overseas branch in 2006 in Singapore. That same year it
opened a representative office in Shanghai, China. In 2007, UTI Bank opened a branch
in the Dubai International Financial Centre and branches in Hong Kong. In 2008, it
opened a representative office in Dubai.
• With effect from 30 July 2007, UTI Bank changed its name to Axis Bank.
• In 2009, Shikha Sharma was appointed as the MD & CEO of Axis Bank.
• Axis Bank opened a branch in Colombo in October 2011, as a Licensed Commercial
Bank supervised by the Central Bank of Sri Lanka.] Also in 2011, Axis Bank opened a
representative offices in Abu Dhabi. In 2011, Axis bank inaugurated Axis House, its new
corporate office in Worli, Mumbai.
• In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations. Axis
Bank UK has a branch in London.
• Bollywood actress Deepika Padukone is the brand ambassador of Axis Bank.
• In 2014, Axis Bank launched its first ‘All Women Branch’ in Patna.
• In 2015, Axis Bank opened its representative office in Dhaka.
• In 2019, Amitabh Chaudhry takes over as the MD & CEO from 1st January.
• As of 31 March 2016, the bank has over 50,001 employees. It spent ₹26.7
billion (US$390 million) on employee benefits during the FY 2012–13.

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COMPANY PROFILE:

Type: private sector Bank

Traded as: BSE: 532215
LSE: AXBC
NSE: AXIS BANK
Industry: Banking financial services
Founded: 1993 26 years ago
Headquarters: Mumbai, Maharashtra, India
Number of locations: 4500 branches (March 2019)
Area served: world wide

Key people: Shri Rakesh Makhija (Chairman)

Amitabh Chaudhry (MD & CEO)
Products: Retail banking, corporate banking, investment banking, mortgage
loans, private banking, wealth management, credit cards, finance and insurance
Revenue: ₹681.16 billion (US$9.9 billion) (2019)
Operating income: ₹190.05 billion (US$2.7 billion) (2019)
Net income: ₹46.77 billion (US$680 million) (2019)
Total assets: ₹8.00997 trillion (US$120 billion) (2019)
Number of employees: 61,940 (2019)
Website: www.axisbank.com
Tagline: badhti ka naam zindagi

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Products and services of axis bank

Services:

➢ Retail banking:
In the retail category, the bank offers services such as lending to individuals and small
businesses subject to the orientation, product and granularity criterion, along with
liability products, card services, Internet banking, automated teller machines (ATM)
services, depository, financial advisory services, and Non-resident Indian (NRI)
services. Axis bank is a participant in RBI's NEFT enabled participating banks list.

➢ corporate banking:

• Credit:

The bank offers various loan and fee-based products and services to large and mid-corporate
customers and small and medium Enterprise (SME) businesses. These products and services
include cash credit facilities, demand and short-term loans, project finance, export credit,
factoring, channel financing, structured products, discounting of bills, documentary credits,
guarantees, foreign exchange, and derivative products. Liability products including current
accounts, certificates and deposits, and time deposits are also offered to large and mid-
corporate segments.

• Transaction booking:

Formed in April 2015, TxB provides integrated products and services to customers in areas of
current accounts, cash management services, capital market services, trade, foreign exchange
and derivatives, cross-border trade and correspondent banking services and tax collections on
behalf of the Government and various State Governments in India.

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• Treasury:

The treasury manages the funding position of the bank and also manages and maintains its
regulatory reserve requirements. It invests in sovereign and corporate debt instruments and
engages in proprietary trading in equity and fixed income securities, foreign exchange,
currency futures, and options. It also invests in commercial papers, mutual funds, and floating
rate instruments as part of the management of short-term surplus liquidity. It also offers a
wide range of treasury products and services to corporate customers.

• Syndication:

The bank also provides services of placement and syndication in the form of local currency
bonds, rupee and foreign term loans and external commercial borrowings.

➢ Investment banking and trustee services:

The bank provides investment banking and trusteeship services through its owned
subsidiaries. Axis Capital Limited provides investment banking services relating to equity
capital markets, institutional stock brokering besides M&A advisory. Axis Trustee Services
Limited is engaged in trusteeship activities, The bank continues to offer corporate banking,
trade finance, treasury and risk management through the branches at Singapore, Hong Kong,
DIFC, Shanghai and Colombo, and also retail liability products from its branches at Hong
Kong and Colombo. The representative office at Dhaka was inaugurated during the current
financial year. acting as debenture trustee and as trustee to various securitization trusts.

Other services are:

✓ Axis pay:
The newly introduced UPI will facilitate banking transactions using only a single
'Virtual Payment Address' (VPA).While transferring money to an account, the sender
will not be forced to feed the slew of details like the account number and bank's IFSC
Code, but can transact using only the VPA.

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✓ Ping Pay:
The bank launched Ping Pay in 2015, which allows customers to transfer funds using
their smart phones to both Axis Bank accounts and other banks' account holders
✓ Augmented reality:
Axis Bank augmented reality feature within its mobile app which lists all the dining
destinations, property lists, shopping centers, bank ATMs, branches and many other
things not only as a location on GPS but also in real life pictures along with distance
and directions.
✓ Axis Thought Factory
The innovation hub located in Bengaluru, has an in-house innovation team and an
accelerator programme] With this launch, Axis Bank becomes the first Indian bank to
introduce a dedicated innovation lab in the country.
✓ Insta Personal Loan
Axis Bank provide a ‘24X7 Instant Personal Loan’ on smartphones and ATM kiosks.
Customers can get instant loan approval and disbursement, which gets credited
directly into their account.
✓ Locker booking
The bank has launched an online locker booking facility through the mobile app to
allow customers to check availability from their homes and book instantly.

✓ Microfinance Institutions (MFI) Lending

A new tablet-based loan origination system developed to digitize the entire lending
process of MFI business. This will replace the existing paper based loan sanctioning
process.
✓ Multicurrency Forex cards
Axis Bank offer contactless multicurrency Forex cards to Indian travelers. The same
technology has also been extended to the Bank’s Debit and Credit card platforms. The
bank has set up an in-house payment gateway that allows for secure e-commerce
transaction processing capability and reduces the cost incurred on using external
gateways

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✓ Asha home loans

Asha home loans targets first time home buyers in the lower income segment.The
product offers loans from ₹100,000 (US$1,400)–₹1.5 million (US$22,000) in small
towns (population less than 1 million) and up to ₹2.8 million (US$41,000) in larger
towns (population over 1 million), to customers with family incomes of ₹8,000
(US$120)–₹10,000 (US$140) per month and above.
✓ ISIC Forex card
✓ ISIC Forex card for students is the first photo travel currency card available in USD,
EUR, GBP and AUD currencies. It can be used across 34 million merchant locations
and at over 2 million MasterCard ATMs globally.

Savings Account

Axis Bank provides its customers with 14 types of Savings Accounts with different features
and benefits & discounts on movie tickets, Axis eDGE rewards points & more.

Current Account

Axis Bank Current Accounts come with features like “Anywhere Banking”. Users can also
avail digital services such as SMS alerts and NEFT/RTGS transactions for free.

Loan
Home Loan

Axis Bank offers home loan starting from Rs. 3 lakh with maximum tenure as 30 years. It
provides 10 types of home loans to help its customers choose according to their needs.

Personal Loan

Axis Bank offers personal loan ranging from Rs. 50000 to Rs. 15 lakh with tenure ranging
from 12 to 60 months. It comes with minimal documentation and quick approval.

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Loan against Property

Axis Bank Loan against Property starts from Rs. 5 lakh. Customers have the option to choose
from 4 different types of loans.

Business Loan

Axis Bank offers collateral free business loans from Rs. 50000 to Rs. 50 lakh for expansion,
purchase of machinery & much more.

Two-Wheeler Loan

Axis Bank Two Wheeler Loan provides up to 85% on-road funding and additional 8%
funding on accessories with a maximum loan tenure of 60 months.

Car Loan

Axis Bank offers car loans from Rs.1 lakh up to 100% on-road price along with benefits.
Customers have the option to choose from 4 different types of car loans.

Education Loan

Axis Bank offers education loan from Rs. 50000 to Rs. 75 lakh at affordable interest rates.
Axis Bank Education Loan offers simple documentation, quick loan disbursal & more.

Gold Loan

Axis Bank offers gold loan starting from Rs. 25,001 up to Rs. 20 lakh with tenure ranging
from 6 to 36 months. Users can use their gold ornaments & gold coins to avail the same.

Investment
Fixed Deposit

Customers can open a Fixed Deposit online with Axis Bank and invest a minimum of Rs.
5,000 for tenure starting from a minimum of 7 days to a maximum of 10 years.

Recurring Deposit

Customers can open a Recurring Deposit online with minimum monthly installments of Rs.
500 and no maximum limit for a flexible tenure ranging from 6 months to 10 years.

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 AXIS BANK

Cards
Credit Card

Axis Bank offers a wide range of credit cards that are suitable for all kinds of financial needs.
From Flipkart gift vouchers to Axis eDGE reward points, customers can earn a host of
rewards.

Debit Card

Axis Bank offers 22 types of debit cards to cater to the banking needs of all its customers.
These cards provide cashless transactions, higher cash withdrawal limit and more.

Banking
Balance Enquiry

Axis Bank Balance Enquiry can be availed by several ways which includes missed call
facility, SMS, customer care, ATM, passbook.

Mini Statement

Account holders can avail Axis Bank Mini Statement (in English & Hindi) by missed call
facility, SMS facility, phone banking etc.

Net Banking

With Axis Bank Netbanking facility customers can make fund transfers, check account
balance, request cheque book, pay utility bills etc.

Customer Care

Axis Bank 24*7 customer care number offers easy access to the account & provides
assistance about services offered by the bank.

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 AXIS BANK

CHARGES OFFERED IN AXIS BANK:

Axis bank believes in complete transparency in terms of charges. The service charges for
Letter of credit, Manager’s cheque, service charges for Small medium enterprises and service
charges for Agri Corp are all stated upfront. To view the charges for cheque book, stop
payment, signature verification, demand draft, pay order, etc.

Cheque book charges:

Cheque Charges
Book
Per leaf First 100 leaves free (for new borrowal account) and thereafter Rs. 2 per leaf

ACCOUNT SETTLEMENT ISSUANCE CHARGES:

Account settlement issuance Charges

Monthly by post No Charge
Daily/Weekly/Monthly by e-mail No Charge
Adhoc statement from any branch Rs.100 per statement

STOP Payment:

Stop
Payment Charges
Per Rs.100 per instrument, maximum Rs.300.00 per instruction
instrument
Per Series Rs.300.00 per series, per instruction.

Cheque return charges:

Cheque return Charges

Return of cheques deposited at home branch Rs.500 per cheque

for local clearing

Signature Verification:

Signature Charges
Verification

Per application/letter Rs.100

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No Dues Certificate:

No Dues Certificate Charges

Per Certificate Rs.150

Demand Draft:

Demand Draft Charges

• Ad valorem charges: Free

• Transaction charges: 15 demand drafts
Issue (Payable at Axis Bank Locations) free per day: above that Rs. 50per DD.

Issue (Payable at Correspondent Bank Rs.1.00 per thousand: Minimum Rs. 25

Locations under Desk Drawing per DD
Arrangement)
Cancellation (Drawn on our bank) Rs. 75 per demand draft

Cancellation (drawn on correspondent Other bank charges plus Rs.125 per

bank) demand draft
Revalidation (drawn on our bank) Rs. 50 per demand draft

Revalidation (drawn on correspondent Other bank charges plus Rs. 125 per
bank) demand draft
Duplicate Issuance (drawn on our bank) Rs. 50 per demand draft

Duplicate Issuance (drawn on our bank) Other bank charges plus Rs.100 per
demand draft

Pay Order:

Pay order Charges

• Ad valorem charges: Free
Issue • Transaction Charges: 15 Pay order free per day: above
that Rs. 50 per pay order
Cancellation Rs.75 per pay order
Revalidation Rs. 50 per pay order
Duplicate Issuance Rs.50 per pay order

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Transfer by national electronic fund transfer (NEFT)

Transfer by national
electronic fund transfer Charges
(NEFT)

• Upton Rs.1.00lakh to Rs.5per

transaction.
NEFT Outside Axis Bank • Above Rs. 1.00 lakh to Rs. 25
per transaction

Collection of cheques:

Collection of cheques Charges

Collection of local cheques Free

Documents Required for Home Loan

Getting a home loan from Axis Bank is easy and quick. We keep the paperwork and other
formalities to a minimum. Proof of your identity, address and income are some of the key
documents that are required to be submitted for Axis Bank home loan.

Moreover, if you are an existing customer of Axis Bank, you can now enjoy the benefit of reduced
documentation.
Documents Salaried Self Self-employed Non-
Employed Professional
Professional
Application form with photograph duly signed ✓ ✓ ✓
Identity, residence and age proof ✓ ✓ ✓
Last 6 months bank statements ✓ ✓ ✓
Last 3 months Salary-slips ✓
Processing fee cheque ✓ ✓ ✓
Form 16 / Income Tax Returns ✓ ✓ ✓
Proof of business existence ✓ ✓
Business profile ✓
Education qualification certificate and proof of ✓
business existence
Last 3 years Income Tax Returns with ✓ ✓
computation of Income
Last 3 years CA Certified / Audited Balance ✓ ✓
Sheet and Profit & Loss Account

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Axis Bank Recurring Deposit

• Bank offers RD interest rates up to 7.60%

• Interest on RD with Axis Bank is compounded quarterly.
• For senior citizens Axis Bank offers RD rate up to 8.25%.

Axis Bank RD Interest Rates 2019

Last Updated 12th Sep 2019

Axis Bank Interest Rate on RD, 2019

Tenure General Rates Senior Citizen Rates

17 months to 17 months 29 days 7.60% 8.25%

14 months to 16 months 29 days 7.30% 7.95%

13 months to 13 months 29 days 7.35% 8.00%

1 year 11 days to 12 months 29 days 7.30% 7.95%

9 months to 364 days 7.10% 7.35%

1 year to 1 year 4 days 7.30% 7.95%

1 year 5 days to 1 year 10 days 7.55% 8.20%

18 months to 1 year 364 days 7.30% 7.95%

2 years to 2 years 364 days 7.50% 8.15%

3 years to 4 years 364 days 7.25% 7.75%

5 years to 10 years 7.00% 7.50%

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 AXIS BANK

Axis Bank Recurring Deposit Interest Rates – Special Features

• Premature withdrawal is allowed. However, bank charges penalty at interest of 1%

less than the rate of interest applicable.
• The deposit tenure ranges from 6 months to 120 months
• The minimum amount can deposit in multiples of Rs. 10
• Visit any Axis Bank branch to avail this service
• TDS deductions are subject to the existing income tax rules as at the time of opening
the RD account
• Penalty on nonpayment of the periodic deposit is Rs. 10 per Rs. 1,000 per month.

Axis Bank RD Account

Axis Bank offers recurring deposit option to their customers to park their periodically
generated surplus savings for a fixed tenure. A customer is required to make a deposit once
into their RD account at the time of opening the account with the bank. The customer then
makes periodic deposits and withdraws any money in the account during the tenure of the
deposit.

Regular RD
• Premature withdrawal is allowed. However, bank charges penalty at interest of 1 percent
less than the rate of interest applicable.
• The minimum tenure of this RD is 6 months

Axis Bank Recurring Deposit Rates

There are some factors that affect Axis Bank Recurring Deposit interest rates. These are
as follows:
Policies Framed by RBI: The change in Cash Reserve Ratio (CRR) and repo rate as
directed by the RBI affect the interest rate of all banking instruments including the
recurring deposit.
Recession – In times of recession, RBI releases funds in the market and hence
injecting liquidity in the market. As a result of high liquidity and low credit demand,
banks reduce the rates on RD.
Inflation – Inflation has a positive effect on a fixed deposit interest rate. Hence, RD
rates tend to be higher in a period of rising inflation.
Current State of Economy – In a booming economy, people take larger credit to
meet their personal and business requirements. In periods of high credit demand,
banks offer higher interest rate to garner more funds through recurring deposits.

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Axis Bank RD Interest Calculator

RD maturity amount that you will get depends on the following three parameters
Deposit amount – This is the initial amount deposited by a customer in Axis Bank. Higher
interest rate might be offered on larger deposits. Axis Bank offers deposit amount starting
at.
Rate of Interest- Axis Bank offers a higher rate of interest on recurring deposits of longer
tenure and lower interest rate on deposits held for a shorter period. Highest interest rate
offered by SBI is 7.60% for deposit amount.
Period of deposit- Bank offers low interest rate for short tenure RDs and higher interest
rate for long tenure RDs.
Duration of Recurring Deposits with Axis Bank
You can open a Recurring Deposit account with Axis Bank Bank for a minimum tenure of 6
months which can go up to maximum tenure of 120 months.
Premature withdrawal of RD with Axis Bank
Premature withdrawal of RD with Axis Bank Bank is allowed. Axis Bank Bank may charge
a nominal amount of penalty as per their banking norms.
Penalty on non payment of the periodic deposit is Rs. 10 per Rs. 1,000 per month
However, Partial withdrawal of RD account is not allowe

PPF Calculator 2019, PPF Interest Rate -

Last Updated 17th Sep 2019
PPF Interest Rate
PPF Account Details

Current PPF interest rate 7.9% w.e.f. July 1, 2019

Lock in period 15 years

Minimum Account Rs. 500

Tax on PPF interest Nil, tax exempted

• Interest payable on PPF is fixed quarterly by Ministry of Finance, Government of India from April 1st,
2016.
• Banks offer PPF accounts at the rate fixed by Indian Government. Current PPF interest rates offered by
all banks is 7.9% as applicable from July 1st, 2019.
• PPF calculator calculates the maturity amount and interest earned depending upon the type of
investment you make (fixed or variable).
• Check rates and calculate PPF amount online with PPF account calculator.
• You can get loan against PPF account.

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PPF Interest Rates

Period PPF Interest Rates

1st July, 2019 onwards 7.9%

1st April, 2019 - 30th June, 2019 8%

1st January, 2019 - 31st March, 2019 8%

1st October, 2018 - 31st December, 2018 8%

1st July, 2018 – 30th September, 2018 7.6%

1st April, 2018 - 30th June, 2018 7.6%

27th December 2017 – 31st March, 2018 7.6%

01st October 2017 to 26th December 2017 7.8%

01st July 2017 to 30th September 2017 7.8%

01st April 2017 to 30th June 2017 7.9%

01st January 2017 to 31st March 2017 8%

Public Provident Fund

PPF or public provident fund is a saving cum tax saving scheme, introduced by
National Savings Institute under Ministry of Finance in 1968. The objective of PPF
scheme is to encourage savings by offering attractive rate of interest combined with
the tax benefits. PPF is one of a very few investment schemes that offer EEE
(Exempt, Exempt and Exempt) benefit that triples your tax exemption in the
following ways:
• Income tax benefit under Section 80C on invested amount (subject to overall
limit of Rs. 150,000/- under 80-C).
• Interest on PPF is 100% tax exempted.
• PPF maturity amount is totally tax exempted.

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INTEREST RATES ON “FIXED DEPOSIT PLUS” (PREMATURE

WITHDRAWAL NOT PERMITTED): NRI DEPOSITS*

NON-RESIDENT EXTERNAL (NRE) DEPOSITS – LESS THAN 5

CRORES W.E.F 11/12/2018**
SR.NO. PERIOD INTEREST RATES (% P.A.)

DEPOSITS OF ABOVE RS 15 LAKH DEPOSITS OF RS. 1 CRORE <

TO BELOW RS. 1 CRORE RS.5 CRORES

NRE DEPOSITS:

1. 1 year < 1 year 5 days 7.30 7.50

2. 1 year 5 days < 1 year 11 days 7.30 7.75

3. 1 year 11 days < 13 months 7.30 7.50

4. 13 months < 14 months 7.35 7.70

5. 14 months < 15 months 7.30 7.50

6. 15 months < 16 months 7.30 7.50

7. 16 months < 17 months 7.30 7.50

8. 17 months < 18 months 7.30 7.75

9. 18 Months < 2 years 7.30 7.50

10. 2 years < 30 months 7.50 7.50

11. 30 months < 3 years 7.50 7.50

12. 3 years < 5 years 7.25 7.50

13. 5 years to 10 years 7.00 7.00

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NON-RESIDENT EXTERNAL (NRE) DEPOSITS – 5 CRORES AND

ABOVE* W.E.F 27/12/2018**
PERI
SR.NO. OD INTEREST RATES (% P.A.)

DEPOSITS DEPOSITS DEPOSITS DEPOSITS DEPOSITS

OF RS. 5 OF RS. 10 OF RS. 25 OF RS. 50 OF RS.
CRORES < CRORES < CRORES CRORES 100
RS.10 RS. 25 < RS.50 < RS.100 CRORES
CRORES CRORES CRORES CRORES AND
ABOVE

NRE DEPOSITS:

1 year < 1 year 5

1. days 7.85 7.85 7.85 7.85 8.25

1 year 5 days < 1

2. year 11 days 8.30 8.15 8.15 8.15 8.15

1 year 11 days < 13

3. months 7.80 7.80 7.80 7.80 7.80

13 months < 14
4. months 7.90 7.90 7.90 7.90 7.90

14 months < 15
5. months 7.70 7.70 7.70 7.70 7.70

15 months < 16
6. months 7.70 7.70 7.70 7.70 7.70

16 months < 17
7. months 7.70 7.70 7.70 7.70 7.70

17 months < 18
8. months 7.95 7.95 7.95 7.95 7.95

9. 18 Months < 2 years 7.70 7.70 7.70 7.70 7.70

10. 2 years < 30 months 7.70 7.70 7.70 7.70 7.70

11. 30 months < 3 years 7.70 7.70 7.70 7.70 7.70

12. 3 years < 5 years 7.70 7.70 7.70 7.70 7.70

13. 5 years to 10 years 7.00 7.00 7.00 7.00 7.00

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