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Axis Bank gives gifts to customers, FDs and RDs if they are prematurely closed, then you will not have to pay a fine

Axis Bank: The third largest bank in the private sector has made a special offer for its retail term deposit customers

The private sector bank Axis Bank has given great relief to its customers. The bank has announced no penalty for premature closure on new retail term deposits booked for 2 years or more after 15 December 2020 or thereafter. The bank has issued a press release that aims to encourage retail customers to longterm savings without worrying about the sudden needs of liquidity. This discount will be available in new FDs and RDs. Axis Bank Released Fixed Deposit (FD) Interest Rates

Terms and conditions

The bank said that customers of term deposit scheme with more than 2 years will be able to take advantage of this rebate. For this, they have to keep their FD or RD operational for 15 months. If customers break their FD or RD after the completion of 15 months period, then they will not have to pay any kind of preature penalty. The bank has further said that under this new facility, if the customer withdraws money for the first time equal to 25% of the principal of the term deposit, then no penalty will be imposed on them. From 4 January 2020, Axis Bank is paying 5.40% interest on deposits of less than Rs 2 crore over a period of 2 years and 30 months. From SBI To Axis Bank: List Of Top Commercial Banks Providing Higher Interest Rates On FDs

Let us know that Axis Bank has recently launched Freecharge Credit Card for its customer. In this credit card, the customer will get many great features which have never been found before in any other bank or credit card.


Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @
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