Miscellaneous

What is meant by Flexi deposit?

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What is meant by Flexi deposit?

A Flexi-Fixed deposit is a special kind of deposit offered by banks in India and other countries. It is a combination of a demand deposit and a fixed deposit. The depositor is able to enjoy both the liquidity of savings and current accounts and the high returns of fixed deposits.

What is flexible bank account?

Your flexi bank account allows you to set a limit on your Savings Account based on your regular cash needs and transfer any excess money to your Fixed Deposit for higher interest.

What is the minimum amount to deposit in Axis Bank?

Open a Fixed Deposit online with Axis Bank and save a minimum of Rs. 5,000 for a flexible tenure starting from a minimum of 7 days to a maximum of 10 years.

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What is Axis Bank Flexi?

Encash 24 Flexi Deposit from Axis Bank is a dual benefit fixed deposit (FD) account that provides the account holder the advantages of holding a savings account as well as that of an FD account. This will allow the customer to withdraw money from the term deposits account in case of a cash crunch.

What is the minimum period of deposit in Flexi deposit account?

5 years
Penalty for default in payment of minimum deposit will be Rs. 50/- per financial year. What is the minimum and maximum period of deposit? The minimum period of deposit is 5 years and maximum is 7 years.

What is axis flexi?

Is there any charges for cash deposit in Axis Bank?

1- Fees on cash deposits and withdrawals above limits is INR 5/1000 or INR 150, whichever is higher. Above monthly transaction count limit of 30 transactions (Financial + Non-Financial) on Axis Bank or other bank ATMs, a fees of flat INR. 20 per transaction would be charged.

How many years will it take to double my FD?

To know the time duration in which your FD amount will get doubled, you have to divide 72 with the highest rate. For example, if the highest rate on FD is 7.05\%, then the number of years in which your FD will get doubled is 72/7.05= 10.21. Thus, it will take 10 years for your FD to get doubled.

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How do I open a flexi account?

To open a Flexi FD account, you need to have a minimum balance of Rs. 100 in your Savings Account. However, if you have a Current account in Axis Bank, you need to maintain a minimum balance of ₹ 20,000 in your accounts. Also, account holders can deposit a maximum balance of Rs.

How can I break my fixed deposit in Axis Bank Online?

Closing an Axis Bank FD Account on Maturity

  1. Via Axis Bank Mobile App.
  2. Via Axis Bank Internet Banking.
  3. 1: Log into the internet banking portal and click on ‘Accounts’
  4. 2: Click on ‘Deposits’
  5. 3: Choose the FD.
  6. 4: Choose ‘Break FD’
  7. 5: Click on the account that needs to be credited.
  8. 6: Key in your NetSecure Code & Submit.

What is encencash 24 flexi deposit from Axis Bank?

Encash 24 Flexi Deposit from Axis Bank is a dual benefit fixed deposit (FD) account that provides the account holder the advantages of holding a savings account as well as that of an FD account. This is nothing but a type of savings-linked FD account.

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What is the tenure of a flexi deposit in Axis Bank?

The tenure for a Flexi Deposit account ranges from a minimum of 15 days to 91 days. Axis Bank: Axis Bank’s Flexi Fixed Deposit scheme, named ‘Encash 24 Flexi Deposit’, ensures liquidity that is typical to a Savings Account along with the benefit of interest like Fixed Deposit. The scheme term varies between 6 months and 5 years.

What is auto fixed deposit in Axis Bank?

Axis Bank’s Auto Fixed Deposit links the existing Savings Account to the Fixed Deposit. This facilitates automatic transfer of money in multiples of Rs. 5,000 to a Fixed Deposit when the balance in the Savings Account crosses Rs. 25,000.

What are the special offers of Axis Bank?

Get the best out of your wealth with Axis Bank’s special offers on Fixed and Recurring Deposits that come with competitive rates of interest. Avail added benefits and tax savings on your money with the Tax Saver Fixed Deposit. The Encash 24 Flexi Deposit scheme offers you the liquidity of a savings account and the high returns of a Fixed Deposit.

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