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Credit Line on Fixed Deposit
Credit Line on Fixed Deposit
What is creditline on Fixed Deposit?
A credit line on a Fixed Deposit from Axis Bank allows you to meet your cash requirements without liquidating your fixed deposits. You can avail up to 85% of the value of your fixed deposit as a loan, ensuring you continue to earn interest on the full amount and avoid any penalti...
How do I make repayments towards my OD account?
To make repayments towards your OD accounts you could use any of the following methods: a. Mobile Banking: The amount will get credited within 2 working days. b. Through any other bank account: Raise an NEFT with below mentioned details: c. By Cheque: Drop boxes are available at...
Are there any charges for Credit Line on UPI?
For credit disbursement and charges, refer Key Fact Statement (KFS) issued at the time of credit onboarding.
Are P2P (Person to Person) transactions allowed via Credit Line?
Only P2M (Person to Merchants) transactions are allowed. Transactions with high-risk vendors (like gambling / gold purchase / bitcoin / trading apps) through UPI is restricted.
How should I close the Credit line account?
You can close your credit line account by clearing all outstanding dues and submitting a request at any Axis Bank branch.
Is there any risk in Digital FD?
No, there is no risk in Digital FDs, as these are non market-linked instruments, which means that the returns they provide do not depend on movement in the capital market. Since intrest rate on digital FD is pre-fixed there is no element of surprise or risk. In other words, what...
Can the repayment to the Credit Line UPI ID be done via any other UPI ID?
Yes, the repayment to the Credit Line UPI ID be done via any other UPI ID. Other modes of transfer includes NEFT, RTGS, IMPS etc.
Can I foreclose or repay my overdraftamount in Secured Creditline on UPI?
Yes, by clearing all outstanding dues and submitting a request at any Axis Bank branch.
What is the date of interest repayment of the Credit Line account?
The interest of the Credit Line account should be paid on the first day of every month.
Are there any penalty charges if the due date of the interest payment is missed?
No, there is no penalty if the due date of the interest payment is missed.
