Organisation : AXIS Bank
Facility :Apply For Open Recurring/Fixed Deposit Account
Home Page :http://www.axisbank.com/personal/deposits/fixed-deposits/fixed-deposit-how-to-open.aspx
Download here :https://www.statusin.in/uploads/1511-FDrdform.pdf
Apply here : https://www.axisbank.com/retail/cards
Apply For Open Recurring/Fixed Deposit Account :
In a reinvestment fixed deposit scheme, the interest accrued on your deposit at the end of each quarter is invested along with the principal. The tenure of your deposit must be a minimum of 6 months.
Related : Axis Bank Apply for Demat Account : www.statusin.in/4013.html
At the end of the quarter, the interest and the principal are both rolled over, and the interest is calculated on the total sum net of Tax Deducted at Source (TDS)
Automatic Rollover :
As a Fixed Deposit holder, you can avail of the facility for automatic rollovers on maturity (for both the principal and interest). You can select this option in the Account Opening Document (AOD).
Withdrawals of Fixed Deposits
All encashment or withdrawals of Fixed Deposits can only be made at the branch where the deposit was booked.
Benefits
** Hassle free opening of a fixed deposit from the comfort of your home/office
** Seamless transfer of funds from your savings account to higher interest earning fixed deposits
** Flexibility in deciding the amount, tenure, interest payment and maturity of your deposit
** Open a fixed deposit at any branch of your choice
Prerequisites
** You would need to have a savings account with Axis Bank
** You would require an i-connect id and password to open a fixed deposit online. (In case you do not have an I-connect id and would like to apply for the same, please contact your nearest branch)
** Clear Funds should be available in the account at the time of booking the fixed deposit.
Steps involved for opening a term deposit online :
Step I :
Please log into your account through I-connect and select the option Fixed Deposit Request under the Fixed Deposits Menu on the left hand side panel. To login, click here.
Step II :
Fill in the details with respect to the account to be debited, amount of Fixed Deposit, tenure, mode of repayment, and the type of Fixed Deposit etc. as per the options provided. Nomination facility for the Fixed Deposit has also been provided for and it is advisable that you name a nominee for the Fixed Deposit that you intend to create.
Step III :
On confirming the transaction by clicking on ‘Submit’, the amount mentioned will be debited from your savings account selected and you would get a web receipt of the Fixed Deposit booked. The value date for opening of the deposit and the rate applicable will be as per the date of request i.e the day on which the savings account is debited.
Step IV :
Post FD creation the Fixed Deposit receipt will be dispatched to your communication address and you will be able to view the Fixed deposit in I-connect after 4 working days.
Note :
For preferential & Senior citizen fixed deposits, kindly contact your nearest Axis Bank Branch.