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Credit Line on Fixed Deposit
Credit Line on Fixed Deposit
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.
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.
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 Credit line account?
You can close your credit line account by clearing all outstanding dues and submitting a request at any Axis Bank branch.
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.
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.
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.
