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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...
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.
How should I close the Fixed Deposit?
To close your Fixed Deposit, please contact Axis Bank customer service through this link.
What is the Interest Rate (ROI) of credit line?
The interest rate (ROI) for the Credit Line is 2% higher than the interest rate (ROI) for the fixed deposit.
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.
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.
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.
