Opening an Fixed deposit is one of the best investment option for a middle class person as the fixed deposit provide enough liquidity to the investor and also a certain income promised by the bank . With most of the banks offering fixed deposit linked with the savings account their is a fixed rate of return in the form of interest is provided . But Axis bank other than opening a savings bank account is offering a Digital fixed deposit to non customers of Axis bank to make their investment in the form of deposits with the bank .
Axis bank is offering a digital fixed deposit which can be opened without holding any saving bank account with the bank and also provides a return of interest upto 7.5% (incl. senior citizens ). What is the concept of digital axis bank fixed deposit and how much investment you can do in such fixed deposit is all we have discussed in this article below.
Axis Bank Digital Fixed Deposit Opening
Axis Bank Digital Fixed deposit is an investment scheme of the bank where those who want to earn interest from their money can make deposit with the Axis bank in the form of fixed deposit without actually opening their savings or bank account with Axis bank .
The digital fd is an option for the investor to save his money and receive some guaranteed return in the form of interest on his income . While their is no option of monthly interest receipt from the bank , while you can receive the amount along with interest from the bank after a locking of minimum 14 months .
How to apply for Digital Fixed Deposit Account with Axis Bank Online ?
To apply for digital fd with Axis bank without any savings account , you can apply for fixed deposit online :
- Go to Axis bank fd application website .
- Click on Digital Fd application link.
- Click on Book Now.
4. Read all the details and Click on Apply Now
5. Enter KYC Information .
6. Fill in your Personal Details , Nominee Details .
7. Complete KYC with Video Call.
8. Make Payment of Fixed Deposit.
Once confirmed , you will provided with a fixed deposit number on your email or on the screen where you can download your digital axis bank fd certificate online .
How much interest rate is provided in Digital Axis Bank FD ?
Interest in all fixed deposit schemes of the axis bank fd are same which some special benefits are provided in each deposit product. Where in digital fixed deposit you can earn interest upto 7.1% if you invest for a term of 14 months in the fixed deposit where compared to other private or public banks you can earn a maximum interest of 7% for your deposits.
For a deposit of 20 lakh , you can earn interest of 1,42,000 INR from the Digital fixed deposit while you can receive the interest on monthly basis by requesting the bank .
Investment in Axis Bank Digital FD – Fixed deposit in Axis Bank 2024
The minimum amount of investment required to open a Digital fixed deposit with axis bank is Rs 5000 while you can make deposit for a maximum of Rs 5 crore in the bank for fixed deposit.
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Asap Digital FD Axis Bank Online Documentation
There is no special documentation required for opening a digital fixed deposit where you require only a PAN Card for opening a digital fixed deposit.
How to track your Digital Fixed deposit with Axis Bank Online ?
Once you opened your digital fd with axis bank , you can track your fixed deposit with the bank with their mobile application . For tracking your fixed deposit , you use Axis Bank Mobile application.
Is their any charges on premature withdrawal of Digital Fixed Deposit of Axis Bank ?
If you withdraw your fixed deposit before the actual maturing period , then no charges would be taken by the bank and you will be provided standard rate of interest on your deposit with the bank .
How interest will be provided in Axis Bank Digital Fd ?
Interest on digital axis bank fd would be provided on yearly basis only as provided by terms of the scheme . While , their shall be an option to receive monthly interest income from the bank.
Is Digital FD with Axis bank risky ?
Their is no risk associated with the Digital fd with Axis bank . As in case if your premature withdrawal of the fd , no charges would be taken by the bank.
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How much time does it take to open a Digital FD with Axis bank ?
It hardly takes 15 minutes to open a Digital fixed deposit with Axis bank .