Axis Bank Launches ‘Lock FD’ Feature to Protect Customers from Digital Banking Fraud

With the growing adoption of internet banking and digital payment platforms, concerns about online fraud have surged among banking customers. Cases of phishing, malware attacks, and account hacking have left many depositors anxious about the safety of their hard-earned savings.

To address these risks, Axis Bank, a leading private sector lender, has rolled out a security-focused initiative aimed at safeguarding customers’ term deposits from unauthorised digital transactions.

Introducing the ‘Lock FD’ Feature

The newly launched ‘Lock FD’ feature allows Axis Bank customers to protect their fixed deposits (FDs) from being prematurely closed through digital channels.

• Once activated, the option to close a fixed deposit via mobile banking or internet banking is disabled.
• The only way to close a locked FD is by visiting an Axis Bank branch in person.

This measure adds an extra layer of security to prevent fraudulent premature closures.

How ‘Lock FD’ Works

When a customer enables ‘Lock FD’:

1. Digital closure is blocked – The FD cannot be closed using internet or mobile banking.
2. Branch-only access – The customer must visit an Axis Bank branch to close the FD.
3. In-person verification – The bank performs identity checks and physical verification before processing the closure.

This process significantly reduces the risk of unauthorised withdrawals, even if a fraudster gains access to a customer’s digital credentials.

Added Security Through Branch Verification

Requiring customers to visit a branch to close a locked FD ensures that:

• Fraudsters cannot exploit compromised login details to steal funds.
• Customers, especially those less familiar with digital banking, have greater protection against cyber threats.
• Identity verification at the branch adds a human layer of security to complement digital safeguards.

How to Activate ‘Lock FD’

Customers can enable this feature in two simple ways:

• Through Axis Bank Mobile App: Log in, navigate to FD details, and enable ‘Lock FD’.
• At a Branch: Visit any Axis Bank branch and request activation from a bank representative.

Additional Security Measures by Axis Bank

In addition to ‘Lock FD’, Axis Bank has also launched an in-app mobile OTP feature to strengthen transaction security.

• Prevents OTP interception by malicious apps.
• Enhances authentication for digital transactions.
• Improves overall online banking safety for customers.

Axis Bank FD Interest Rates (Effective from August 6, 2025)

• For General Citizens: 3% – 6.6% (FD amounts below ₹3 crore).
• For Senior Citizens: 3.5% – 7.10% (FD amounts below ₹3 crore).

These rates are competitive and aimed at attracting customers looking for secure investment options with added safety features.