Axis Bank launches short-term online fixed deposits “Express FD”

Axis Bank, India’s third-largest private sector bank has launched the  ‘Express FD’, a digital fixed deposit (FD) product that allows a customer to open an FD account in 3 minutes through the digital mode without opening a savings account with the bank.

‘Express FD’ offers attractive interest rates, zero issuance fees and no penalty on pre-mature withdrawal of up to 25% of the amount, the bank said. A customer can open an Express FD account by investing a minimum Rs 5,000 up to Rs 90,000, for a tenure of 6 to 12 months.

Static/Current Takeaways Important For RRB NTPC/IBPS RRB Mains:

  • Chairman of Axis Bank: Rakesh Makhija; Headquarters: Mumbai.

Source: The Indian Express

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