Money is the thing for which we all work day and night, it the basic necessity for us to survive in this world. We all have money with us and we all try to increase the amount of money which we have with us by investing it. And when it comes to invest our money somewhere there are number of place where you can invest and get your money almost doubled but the thing is the risk level which is very high these days. If you want to invest your money in Stock market, you can really make good amount of money but the risk level is very high in Stock market if you don’t invest in on the right stocks.
To open a Fixed Deposit with Axis Bank, you will have to submit a duly filled Fixed Deposit application form. Download the Fixed Deposit application form, below. Fixed Deposit Account Opening Form (For Existing Customers) Fixed Deposit Account Opening Form (For New Customers).
- Axis Bank provides its NRI customers with various options to park their money in fixed deposits. These schemes help customers fetch good returns at the prevailing Axis Bank NRI FD Rates. Let us understand the NRI fixed deposit schemes along with the rates at which interest is paid by the bank.
- The Axis Bank Fixed Deposit Calculator is an online calculator that helps the depositors in calculating the maturity value of the deposited amount. By this, the user can know the overall hike in the deposited amount that you will get at the completion of the investment period.
- For fixed deposits with tenure of 6 months and above, interest is calculated on a quarterly basis. Interest earned during the previous quarter is added to the Principal for calculation of interest. Fixed deposit interest rate on this amount is calculated every quarter.
- Axis bank provides loans against its fixed deposits. You can use your fixed deposits to fulfil your financial requirements, and also enjoy the following benefits: Get funds up to 85% of the value of your fixed deposits. Interest payable only on the amount used, and for the period of utilization.
But Fixed deposits is the only way where your money will grow with time with risk level which is almost equal to zero. So fixed deposits are very good for us to increase the money we have with us. But if you want to break Fixed deposit in Axis Bank which you have made there and searching online for an article online in which you will find information regarding how you can make premature withdrawal of your fixed deposit. Then you have landed on the right website. Because in this guide you will find information about this.
Contents
What is Premature Withdrawal of Fixed Deposit?
But before that I would like to tell you about what is Premature withdrawal actually is? So here is the answer. It is nothing but when you have made a Fixed Deposit for some tenure and you want to withdraw the amount before your fixed deposit gets matured. For example you have made a FD of 1 Lakh INR for a tenure of 12 months (1 Year) and now you want to withdraw your money which which is 1 Lakh INR before 1 year period. This process of withdrawal of money before the actual tenure of FD is called as Premature withdrawal of Fixed Deposit.
How to Break Fixed Deposit in Axis Bank?
So now lets get started with this guide and check out the procedure which you need to follow to break fixed deposit in Axis Bank. The process is very easy and you can do it with few steps, I have mentioned them below.
- The first thing you need to do is you have to write a application to your branch manager regarding the Premature withdrawal of your FD. You can refer the letter sample which I have mentioned below.
To:
Branch Manager,
Axis Bank,
Axis Bank Fixed Deposit Statement
Camp, Belgaum
Subject: Premature Withdrawal of Fixed Deposit.
Respected Sir,
I am Subhash Sharma and I had opened a FD in your branch on 01/06/2016 whose tenure was of 1 year but I want to withdraw the money now. My FD Number is 0000-0000-0000 I request you to break my FD and deposit the money to my Savings Bank account Number XXXX-XXXX-XXXX-XXXX.
I have attached the my PAN Card photocopy as my Identity proof with this application.
Regards,
Subhash Sharma
- As soon as you complete writing this application to your Axis Bank branch manager now you need to take a photocopy of your PAN Card and make your signature on the photocopy and attach it with the application form.
- Now at last you need to visit your home branch where you had opened your FD and submit your form. And you are done with it.
Note: When you break your FD before it tenure is completed, a penalty will be applied to you. You can ask for the penalty amount which is applied on you at your home branch. Some banks don’t apply penalty and some apply it.
Final Words.
So this was all about how you can break fixed deposit in Axis Bank. I hope you are clear with all the steps which I have mentioned in this guide. If you have any kind of doubts you can comment below.
Opening a fixed deposit is really good way to invest your money and get good amount of return for the money you have invested. We all want to be rich and to get rich we need to invest our money to increase the amount of money which we have with us. When it comes to investment there many places where you can invest your money where your money grows, but the main thing is when you invest your money anywhere the first thing you need to check is risk. How much risk are you taking with the money which you have invested there?
Axis Bank Fixed Deposit Form
We should always check the risk level while investing our money somewhere. And today I will tell you a complete new way where your money will grow with time i.e. you will get good amount of returns for your money which you are investing. But the risk level here is very less! Yes you heard it right the risk level is almost zero here. I am talking about Fixed Deposits. If you are searching online for an article in which you will find information about how to open Fixed deposit in Axis Bank. Then let me tell you that you have been landed on the right website here. Because in this guide on Online Indians you will find how you can open fixed deposit in Axis Bank.
Axis Bank Fixed Deposit Rate
Contents
Things you should know about Fixed Deposit.
But before we proceed to the further part of this guide I would like to tell you few things about Fixed Deposits before you open one for you.
- In this guide you will find the procedure which you need to follow to open fixed deposit in Axis Bank offline process and not online.
- The minimum tenure or term period for which you can make Fixed Deposit is 7 days.
- The maximum tenure or term period is 10 Years.
- When you open a FD and it gets matured, if you don’t visit your home branch where you had opened your FD, it will be automatically renewed.
- The name on the FD account should be exactly same as on the savings bank account to which you want your FD amount to be funded.
How to Open Fixed Deposit in Axis Bank?
So now let us get started with this guide and check out how you can open Fixed deposit in Axis Bank. I have mentioned all the steps which you need to follow, after reading this guide if you have any kind of doubts in your mind you can leave your comment below.
- The first thing you need to do is collecting the FD form, you can download this form online or else you can visit your Axis Bank home branch and ask them for the form. You will get it there.
- Filling FD form, now you need to fill the form with all the details which are asked to you in the form.
- After that you need to collect the documents which you need to submit to your bank.
- Documents: You need to submit photocopies of your PAN card and address proof documents.
- Make sure you make your signature on the photocopies of your documents. Because without your signature on them they will not be considered as valid documents.
- When you have completed filling the form and collecting your documents, visit your home branch.
- Talk with the bank officials and show your form and photocopies of your documents and verify with them if you have taken the right documents and filled the form correctly.
- Now deposit your the amount of which you are making FD.
- Once you have done with depositing your amount in Axis Bank, you are done with it.
Final Words.
So this was how you can open Fixed Deposit in Axis Bank, I hope you are clear with all the steps which I have mentioned in this guide. As I have already mentioned if you have any doubts you can comment below. I will respond to your comment as soon as possible. And if you want to get assisted quickly you can visit your Axis Bank home branch during working hours. They will assist your with the procedure.