Open a Digital FD in minutes

5 MinsMay 12, 2022

Arun, an interior designer by profession had just got a sizeable pending payment from one of his clients. This meant that he could finally make the down payment on the new flat he was planning to buy. But he was also worried that he would end up spending the money before the deadline to make the down payment. He needed to invest the money somewhere safe and quickly. 

Open a Digital FD in minutes

He walked into a café and ordered a coffee. He decided to look for some options to invest in and opened his laptop to do some research. It was then that he chanced upon Axis Bank’s Digital FD. But since he didn’t have an Axis Bank Savings Account he was hesitant to proceed. However, when he read through the details, he discovered that he didn’t need one to invest in the Digital FD. It was tailor-made for him!

All he had to do was fill in his details, and provide his Aadhar, PAN and mobile number for opening the FD.

The entire process was completed in seven minutes, and his money was now safe in an Axis Bank Digital FD. It was done before his coffee arrived. 

Delighted with the quick resolution of his problem, Arun resolved to invest in FDs regularly. By selecting the FD tenure to match the timeframe of his various financial goals, he could easily plan for his future needs.

If like Arun, you too are looking for a safe and secure investment that is hassle-free and can be done in minutes, Axis Bank’s Digital FD is the solution for you. Let’s see what the features are:

  • Digital FD is an industry-first kind of Fixed Deposit scheme launched by Axis Bank.
  • You do not need an Axis Bank Savings Account to open a Digital FD. 
  • You can fund it using accounts from any other bank.
  • It offers competitive interest rates
  • No penalty for a premature withdrawal of up to 25% of the FD amount. 
  • Zero penalties on 100% premature withdrawal after 15 months provided the FD tenure is two years or more

Also, draw up a budget to find out how much you are spending and where. This will help curtail unnecessary expenses. 

[Also ReadBuild a corpus through Fixed Deposit laddering]

Why should you invest in Digital FDs?

  • It is easy and quick to invest. Do it from the comfort of your home or office in a hassle-free manner with minimum documentation. 
  • FDs offer fixed and secure returns. At the time of opening the FD, you know exactly how much amount you will get at maturity. It is a risk-free investment
  • You can match the tenure of your investment with your goal so that the money is readily available when you need it
  • It is highly liquid, and you can redeem it as and when you need funds.
  • You can invest any amount, as per your income and budget.
  • Since Fixed Deposit Interest Rates are fixed, they offer protection against volatility in the equity market, making them a must-have in your investment portfolio

So, like Arun, you too can open your Digital FD faster than you make your cup of instant coffee! 

Disclaimer: The Source, a content creation and curation firm has authored this article. Axis Bank does not influence the views of the author in any way. Axis Bank and The Source 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. Names mentioned in this article are fictitious in nature and only for explanatory purposes