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Axis Bank Recently Launches New Mobile App Feature for Easy FD Booking.

App and Web Portal | Dated: 14 Feb 2025

On February 11, 2025, Mumbai (Maharashtra)-based Axis Bank Limited, one of India's largest private sector banks, recently launched a first-of-its-kind feature enabling customers to open Fixed Deposits (FDs) through its mobile application.

🎯 Key Highlights:

  • - Axis Bank is the first private sector bank to recently introduce this new-age banking feature powered by the Account Aggregator (AA) system, enabling users to seamlessly transfer funds from non-Axis bank accounts using Unified Payments Interface (UPI) and Internet Banking (IB).
  • - It allows customers to digitally invest in Fixed Deposits (FDs) with Axis Bank, offering attractive interest rates and better returns.

💡 Other Important Facts:

  • (i) Axis Bank's Existing-to-Bank (ETB) customers with valid Know Your Customer (KYC) can open FD accounts even if their primary funds are held in another bank, eliminating the need to first transfer funds to an Axis Bank savings account.
  • (ii) The Fixed Deposit (FD) will be processed once the payment is successfully completed and the funds are received from the payment gateway service provider.
  • (iii) The Account Aggregator (AA) ecosystem is a digital framework that enables individuals to securely access and share their financial information between institutions within the AA network.

📚 Test Your Knowledge:

Which private sector bank recently launched a new mobile app feature for easy Fixed Deposit (FD) booking?

Correct Answer: Axis Bank

🚀 Quick Recap:

About Axis Bank

  • CEO : Amitabh Chaudhry
  • Headquarter : Mumbai