Axis Bank Launches Seamless Fixed Deposit Feature via Mobile App

Axis Bank has introduced an innovative feature on its mobile app, enabling customers to open Fixed Deposits (FDs) using funds from non-Axis Bank accounts. By leveraging the Account Aggregator ecosystem and UPI/Net Banking, this feature eliminates traditional barriers like fund transfers and payee addition. Existing-To-Bank (ETB) customers with valid KYC can now enjoy a hassle-free FD creation process with competitive interest rates. Sameer Shetty, Axis Bank’s President of Digital Business, called it a transformational step towards open banking, enhancing convenience and accessibility for users.
Source: Axis Bank Press Release, Business Standard, CNBC TV18.