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Credit Line on Fixed Deposit
Credit Line on Fixed Deposit
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...
What is the eligibility of the Credit Line?
Below are the eligbility criteria for availing a Secured FIxed Deposit based credit line on UPI You are an Indian resident with 18+ years of age You reside in India while opening the account You should have a valid Pan and Aadhaar card Your mobile number is linked to Aadhaar car...
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.
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.
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...
How should I close the Fixed Deposit?
To close your Fixed Deposit, please contact Axis Bank customer service through this link.
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.
What is minimum and maximum Credit Line limit?
The minimum Credit Line limit is Rs.25000 and the maximum Credit Line limit is Rs.500000.
Why am I not eligible for the Credit Line?
Eligibility for the Credit Line is determined by Axis Bank. For further details, please contact Axis Bank customer service through this link.
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.
