Axis Bank launchs a short-term online fixed deposit product “Express FD”

Axis Bank has launched a short-term online fixed deposit product ‘Express FD’ that allows a customer to open a FD account in 3 minutes through the digital mode without opening a savings account with the bank. The new product offers a host of features like attractive interest rates, zero issuance fees and no penalty on pre-mature withdrawal (up to 25% of the amount). A customer can now open an Express FD account by investing a minimum Rs 5,000 up to Rs90,000, for a tenure of 6 to 12 months.