Flexi Fixed Deposit Axis Bank

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What is an Axis Bank Flexi Deposit?

Flexi Deposit Axis Bank (Encash 24) is a financial product that allows surplus funds to earn fixed deposit interest while keeping the remaining amount accessible. When your savings exceed a threshold of ₹25,000, the extra amount is swept into the Flexi Fixed Deposit (sweep-in) in multiples of ₹5,000. If your balance falls, funds are automatically reversed (sweep-out), offering ease without penalties.

Axis Bank Flexi Deposit Interest Rates

The Flexi Fixed Deposit interest rates are linked to Axis Bank FD rates. Here’s how they vary for both general customers and senior citizens, based on the maturity period:

For Deposits Less Than 3 Crore

*Axis Bank FD interest rates w.e.f. June 12, 2025

Key Features of Axis Bank Flexi Fixed Deposit

Flexi Fixed Deposit Axis Bank has several customer-friendly features. Some of these include:

• Attractive Interest Earnings: The withdrawn portion of your FD earns interest based on its actual duration, while the rest continues at contracted FD rates.
• LIFO Withdrawal Mechanism: In case of multiple Flexi FDs, Axis Bank uses the Last-In-First-Out method, sweeping funds first from the most recently opened FD.
• Flexible Tenure Options: Axis Bank Flexi Deposits are available with tenures ranging from a minimum of 6 months to a maximum of 5 years.
• Simple and Transparent Process: Opening a Flexi Deposit account is easy and requires only basic details. You can do this through internet banking, mobile app, or by visiting your nearest branch.
• Premature Withdrawal Terms: If a Flexi Deposit is withdrawn before maturity, the applicable interest will be 1% lower than the card rate or contracted rate, whichever is lower. For closures within 14 days, interest is paid based on the actual holding period.
• Loan Against Fixed Deposit: You can avail of a loan or overdraft facility against your Flexi Fixed Deposit for up to 90% of its value, providing liquidity without the need for premature withdrawal.

How to Open an Axis Bank Flexi Fixed Deposit?

You can open a Flexi Deposit at Axis Bank either online or by visiting a branch. If you're an existing customer, simply complete the Flexi Deposit booking process through internet or mobile banking. Axis Bank's new customers need to open a savings account first and then link the Flexi Deposit to that account.

1. Online FD Account Opening

   You can book an Axis Bank FD online. Just log in, fill out the form, and book the FD from your savings account.

   • NetBanking or Mobile App: Log in to Axis Bank NetBanking or the Axis Mobile App with your credentials.
   • Go to ‘Fixed Deposits’: Navigate to the 'Deposits' section and select 'Encash 24 FD'.
   • Select FD Amount: Select your account and enter the amount, starting from ₹5,000.
   • Select FD Type: The Encash 24 FD is automatically linked to your savings account for liquidity.
   • Maturity Instructions: Choose options like auto-renewal, interest payout frequency, or payout at maturity.
   • Review & Confirm: Check all details, accept the terms & conditions, and submit.
   • FD Receipt: An e-receipt for your Fixed Deposit will be generated instantly.

2. Offline FD Account Opening

   If you prefer a more traditional process, you can visit your nearest Axis Bank branch to book an FD.

   • Visit Axis Bank Branch: Visit a branch with your PAN/Aadhaar and cheque/cash.
   • FD Form: Fill out the Fixed Deposit application form at the branch.
   • Submit Documents: Submit the required KYC proofs for your Axis Savings Account, especially if you are a new customer.
   • Fund Transfer/Deposit: Deposit the FD amount (minimum ₹5,000) digitally, via cheque, or cash.
   • Tenure & Interest Options: Choose the tenure (6 months to 5 years) and interest payout frequency.
   • Get the FD Receipt: Axis Bank will issue a Term Deposit Receipt (TDR) as confirmation.

Difference Between Flexi Fixed Deposits and Regular Fixed Deposits

To better understand the value of a Flexi Deposit, here’s a comparison with regular fixed deposits:

Key Takeaways

The Axis Bank Flexi Deposit allows automatic transfers based on your balance and spending needs. It offers higher FD interest rates than regular FDs while keeping your money accessible. To activate and continue using the Flexi Deposit facility, you must maintain a minimum balance of ₹25,000 in your Axis Bank savings account. It is suitable for individuals with surplus funds who want better returns without compromising liquidity.