Axis Bank introduced the release of ‘Express FD,’ a digital Fixed Deposit product. Customers can now open an Express FD account in three minutes through digital mode without opening a financial savings account with Axis Bank. Express FD offers features such as attractive hobby quotes, zero issuance expenses, and no penalty on premature withdrawal (up to 25% of the amount), according to a press release from the employer. A patron can now open an Express FD account by investing a minimum of Rs 5,000 as much as Rs ninety 000 for a 6 to one year tenure. The finances may be deposited in an Express FD account via net banking, debit card, or UPI.
After a final touch of the KYC method, the client can opt for additional benefits like personal loans, credit playing cards, foreign exchange card services, lifestyle benefits consisting of Dining Delights, and other extra offers across Credit and Debit playing cards. They can also open an Axis Bank savings account of their preference and avail themselves of an array of investment solutions.
Speaking at the release, Praveen Bhatt, EVP – Retail Liabilities and Direct Banking Channel Products, Axis Bank said: ‘’ With the launch of Express FD, we are providing improved on-line offerings to our new to financial institution younger customers who’re digitally savvy and are searching for a quick-term investment in FDs. We have located that even though, as an industry, we are moving toward newer avenues of financial investments.
Fixed deposit, nonetheless, remains the most favored preference for many first-time savers. Apart from the traditional features of capital appreciation with safety and liquidity, Express FD will also provide different investment avenues like credit cards and loans towards FDs.’’
