Fixed Deposits have long been a preferred investment choice due to their safety and predictable returns.
Traditionally, starting an FD required having a Savings or Current Account with a bank. However, innovative banking
solutions now allow you to open an FD without a Savings or Current Account, offering a seamless way to invest your
money and earn interest over a fixed term.
Axis Bank now offers you the option of investing in a Fixed Deposit by transferring funds from any other bank
account. This is possible via mobile banking using the Axis Open app. Even if you have a loan or Credit Card with
Axis Bank, but not a Savings Account or a Current Account, you can book an FD via the Axis mobile app.
Benefits of opening an FD without a Savings or Current Account
Ease of investment
The pathway to growing your money is now more direct than ever. By choosing to open an FD without a Savings or Current Account, you bypass the regular procedure, which may be
cumbersome due to documentation and may take time, thereby making your investment swift and hassle-free.
Guaranteed returns
With the option to open a Fixed Deposit
without a Savings or Current Account, you're not only simplifying the investment process, but also locking in
returns that are often more favourable than traditional savings avenues.
Flexible tenures
Investing in a Fixed Deposit without a Current or Savings Account offers flexibility to match
your financial plans. Whether you're looking for short-term gains or long-term growth, there's a tenure to fit every
strategy, giving you control over how long your money works for you.
Security
Opting to open a Fixed Deposit without a Current or Savings Account doesn't mean compromising on
security. FDs are renowned for their stability and are a steadfast choice for investors who prioritise the safety of
their capital.
How to open an Axis Bank FD without a Savings or Current Account
Invest with ease and confidence, embracing the advantages of a Fixed Deposit tailored to your lifestyle needs. Open
an Axis Bank FD in these simple steps.
For customers with an existing Axis bank Cust ID: (customer has a loan or credit card with Axis Bank but no
Savings or Current Account)
1. On the Open app, go to the FD/RD option in quick links section
2. Click on new Deposit
3. Select the tenure and amount for your FD
4. Fill in the details of your nominee, the bank account for crediting the maturity proceeds, etc.
5. Select payment via UPI or net banking and complete the transaction for booking your Axis Bank FD
For customers who have no relation with Axis Bank:
1. Head to our website and choose Digital FD option
2. Verify yourself with PAN and Aadhar card
3. Enter your personal information as required
4. Choose the FD amount
5. Finish the process with a short KYC call from an authorized agent
Once your Digital FD is open, download Open App from Axis Bank, to access your Digital FD
Also Read: 7
Different types of fixed deposit in banking
Conclusion
The convenience of investing in a Fixed Deposit without the need for an existing Savings or Current Account
represents a significant shift towards simplicity and efficiency.
Digital Fixed Deposit by Axis Bank stands out by offering a quick setup with full KYC compliance without a bank
account. Coupled with the freedom to access up to 25% of your deposited funds without penalty, this investment
method marries the assurance of traditional FD returns with the modern need for flexibility, making it a compelling
option for those seeking to grow their savings with confidence and ease.
For booking FD via mobile banking app: Click Here.
Disclaimer: This article is for information purpose only. The views expressed in this article
are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd.
and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader
for taking any financial decisions based on the contents and information. Please consult your financial advisor
before making any financial decision.
