• Loan against Fixed Deposit Axis Bank

    It is very beneficial to open a fixed deposit with Axis Bank. The bank’s term deposits come with assured investment returns with attractive interest rates, as compared to regular savings account. Now customers can also avail a loan against the fixed deposit account opened with Axis Bank. The loan amount can be used in time of financial emergency, without the need of liquidating the fixed deposit.

    Eligibility criteria for applying for Axis Bank Loan against Fixed Deposit

    In order to apply for a loan against the fixed deposit offered by Axis Bank, the customer should fulfil the following eligibility criteria:

    • Must be a citizen of India
    • Customers with valid Axis Bank FD can avail the ODFD facility provided by the bank

    Key Features of Loan against Axis Bank Fixed Deposit

    Listed below are the main feature of Axis Bank Loan against Fixed Deposit:

    Loan Type Overdraft
    Loan/overdraft amount

    Minimum – Rs. 25,000

    Maximum – No ceiling

    Rate of Interest

    2% for loan up to 1 crore

    3% for loan above 1 crore

    4% for third party customers irrespective of amount

    Period of Deposit Minimum: 3 months
    Premature withdrawal Allowed
    Facility for Nomination Available

    Benefits of Loan against Axis Bank FD

    There are a number of perks of availing a loan against your term deposit from Axis Bank. Here are some of the benefits:

    • The customer can get up to 85% of the value of the FD as a loan.
    • Interest is charged only on the amount utilized for the specific tenure. No EMIs or post-dated checks required.
    • Premature withdrawal of deposit can be done. There are no prepayment charges levied.
    • ATM card, check book, and Internet banking facilities are available for the overdraft account.
    • Loan against your Axis Bank Fixed Deposit can be availed online without undergoing the trouble of visiting the bank physically.
    • The overdraft account tenure can be renewed on the basis of the remaining tenure of the fixed deposit.

    Loan against Axis Bank Fixed Deposit interest rates

    The bank charges competitive rates of interest on its loan against fixed deposits.  Here are the rate of interests that are charged on different amounts loaned:

    • For loan amount up to Rs. 1 crore, 2% interest is charged over term deposit rate
    • 3% rate of interest is charged for loan amount above Rs. 1 crore, over term deposit rate.
    • In case of third party customers, 4% interest rate is levied, irrespective of the loan amount.

    There are no other charges applied on the overdraft account, apart from the rate of interest. The interest rates charged by the bank on loans against fixed deposits can be changed on the bank’s discretion.

    Loan against Axis Bank Fixed Deposit FAQs

    1. Can I avail a loan against my fixed deposit, in case I’m a third party customer?

      Yes, Axis Bank accepts loan requests from third party customers as well. Around 4% interest rate will be charged, no matter what the loan amount is.

    2. What is the maximum loan amount that can be availed from Axis Bank’s loan against fixed deposit?

      There is no cap on the maximum amount to be availed as loan. However, the bank will not approve the loan in case it is lower than Rs. 25,000.

    3. In case I have a medical emergency or economic urgency, will Axis Bank allow premature withdrawal?

      Yes. The banks allows premature withdrawal fixed deposits, provided the customer doesn’t have any overdrafts against the deposit.

    4. In case I want to close my fixed deposit before the tenure is over, will the bank levy any penalty or charges?

      No. The bank does not charge any penalty for early closure of the account.

    5. What documents will be required by the bank?

      In order to avail loan against fixed deposit from Axis Bank, the following documents are required:

      • Properly filled application form
      • Agreement duly signed
      • Term deposit receipts discharged in favour of Axis Bank

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    Loan against FD Axis Bank Reviews

    • Axis Bank Fixed Deposit
      "Interest should be increased for FD"
      0.5 3.0/5 "Satisfactory"
      I have opt for fixed deposit for the tax saving purpose because I have chosen five years tenure with AXIS Bank, still its going on. Only once I Invested my money it has the locking period of five years. I have option to check my transactions through mobile app. But I have concern about the interest rate is very lesser for this FD.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Sep 19, 2019
    • Axis Bank
      Axis Bank Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have a Fixed deposit account with Axis Bank. I have not faced any difficulties so far on using this account. The customer service is also good so far. Each and every transaction will be safe and secure .There was no drawbacks faced so far. I am very much comfortable in using this account.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Jun 06, 2019
    • Axis Bank Fixed Deposit
      "Convenient fixed deposit"
      0.5 4.0/5 "Great!"
      My fixed deposit was opened with Axis bank, I invested around Rs. 1 lakh for one year. If I want I can also extend the tenure. I believe the rate of interest is more than 7% for per annum. I can also track the fixed deposit through online banking its more simple.
      Was this review helpful? 8
      , thane
      Reviewed on May 04, 2019
    • Axis Bank Fixed Deposit
      "Very Assured Fixed deposit"
      0.5 5.0/5 "Blown Away!"
      I opened a Fixed deposit in Axis bank for one year of term period . They sent a physical copy for my fixed deposit which gives a good assurance about that bank . So that my nominee can be aware of my FD and can approach them very easily if something happens to me . I can check the status of my FD through on line itself .
      Was this review helpful? 3
      , hyderabad
      Reviewed on Apr 23, 2019
    • Axis Bank Fixed Deposit
      "Convenient"
      0.5 4.5/5 "Excellent!"
      I have a Fixed Deposit with Axis Bank because they have offered more interest than ICICI BANK and its been more than 1.5 years. Their customer service is always good. The interest rate is around 7.6% which am not sure. I can manage the account online. I opted for 18 months.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Mar 26, 2019
    • Axis Bank Fixed Deposit
      "Services are good"
      0.5 5.0/5 "Blown Away!"
      I also bank with Axis Bank for the fixed deposit. The customer support and response is good. There are no hassles in the process. I could open this account online. The lock in period is for one year. The rate of interest they provide on my savings is also satisfactory.
      Was this review helpful? 11
      , pune
      Reviewed on Feb 15, 2019
    • Axis Bank Fixed Deposit
      "Average bank to avail fixed deposit"
      0.5 4.5/5 "Excellent!"
      I have chosen the Axis bank for my fixed deposit. I have deposited around of Rs. 50000. Since they are providing very good services in their branch. They have offered me a interest rate of 6.5%. I put the money in 2015. I have visited their branch many times and the service is very much prompt. I had no issues with them.
      Was this review helpful? 11
      , hyderabad
      Reviewed on Dec 11, 2018
    • Axis Bank Fixed Deposit
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have done with the fixed deposit with the AXIS BANK where the mobile application is easy and user friendly to access. It is easy to do the fixed deposit through the application which is paperless approval. The service is good with this bank.
      Was this review helpful? 8
      , chennai
      Reviewed on Dec 01, 2018
    • Axis Bank Fixed Deposit
      "Hassle Free FD account"
      0.5 4.0/5 "Great!"
      I have saving account hence in an application I can track and maintain the FD account. The bank is providing the interest rate around 6 to 8% for per annum. Its convenient I can open the FD account through app and I close the FD without any hassles. The amount also gets credited immediately to my bank account.
      Was this review helpful? 4
      , bangalore
      Reviewed on Nov 23, 2018
    • Axis Bank Fixed Deposit
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I've another fixed deposit with the Axis bank under my wife's name. I've deposited 21 lacs in this deposit. The interest rate is good and they disburse the interest quarterly. So far there hasn't been any issues with their services.
      Was this review helpful? 25
      , ahmedabad
      Reviewed on Jul 28, 2018
    • Axis Bank Fixed Deposit
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I've two fixed deposits with the Axis bank, one is under my name and the second one is under wife's name. I've deposited 7 lacs, the interest rate is very good. They disburse the cumulated interest quarterly and the tenure of the FD is 5 years.
      Was this review helpful? 10
      , ahmedabad
      Reviewed on Jul 28, 2018
    • Axis Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I have a Fixed Deposit with AXIS bank from last 3 months, i am happy with the service they provide. I get good returns on investments. Customer service was very good, they gave all the right information and guided me well. I will get 6.99% on returns after the maturity period.
      Was this review helpful? 7
      , ahmedabad
      Reviewed on May 08, 2018
    • Axis Bank Fixed Deposit
      "Very Poor Response by BRANCH EMPLOYEE"
      0.5 0.5/5 "Unacceptable"
      Its waste of time & money with axis bank. Don't have enough knowledge, lack of experience, and poor support. I opened a FD ACCOUNT AT AXIS BANK ON 13TH, and still they are unable to update my contact number in my account & cc. Wait....wait and waiting.. Nd branch is located in DELHI. NOW YOU CAN IMAGINE, how they will operate in rural area...
      Was this review helpful? 2
      , new delhi
      Reviewed on Feb 23, 2018
    • Axis Bank Fixed Deposit
      "Overall good"
      0.5 4.0/5 "Great!"
      I have a two lakh fixed deposit at Axis Bank. The bank is good in this process and the rate of interest is the same when compared to other banks. There is no lock in period and anytime I an withdraw the funds. There are no charges related to this account.
      Was this review helpful? 2
      , new delhi
      Reviewed on Feb 19, 2018
    • Axis Bank Fixed Deposit
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      Axis Bank is overall good in the banking process. I bank for a fixed deposit and there are no charges taken for this account. The customer support is good and the online banking is very convenient to open and close this account. The rate of interest is also good.
      Was this review helpful? 3
      , ahmedabad
      Reviewed on Feb 09, 2018
    • Axis Bank Fixed Deposit
      "Good Return"
      0.5 3.0/5 "Satisfactory"
      I had a good investment made an investment in Axis Bank through my Fixed Deposit Account with them. They gave me an interest rate of 8.25%, which I feel is one of the best in the Industry. I took it for a 2 years period and had the option of closing it even before the maturity.
      Was this review helpful? 9
      , mumbai
      Reviewed on Dec 26, 2017
    • Axis Bank Fixed Deposit
      "Need to improve"
      0.5 1.0/5 "Really Bad"
      I am having the fixed deposit account with the Axis bank and the customer service was not really good like they have to be get improved. I would like to say that the online banking system could be get improved. I have not faced any issues with them till now.
      Was this review helpful? 5
      , bangalore
      Reviewed on Nov 25, 2017
    • Axis Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      Even though I don't like the saving account with Axis bank as there is a minimum balance of Rs. 10000 has to be maintained I like the fixed deposit account with Axis bank as that process is simple and smooth and I have it for 2.5 years and also they pay good interests rates of 7.5%.
      Was this review helpful? 7
      , faridabad
      Reviewed on Nov 17, 2017
    • Axis Bank Fixed Deposit
      "Best"
      0.5 5.0/5 "Blown Away!"
      I am using Axis FD service for last 15 years. The amount differs for a fixed deposit. The interest rate was vey high than other nationalized banks. They providing more benefits to the customers. There is no issues with Axis and am completely satisfied with the service. The most interesting feature is they auto renew the policy or they pay extra charges for late 15 days.
      Was this review helpful? 7
      , kolkata
      Reviewed on Nov 16, 2017
    • Axis Bank Fixed Deposit
      "Its good investment"
      0.5 4.5/5 "Excellent!"
      I have invested one lakh in fixed deposit with AXIS bank. Its going to matured in this august, Then I would be getting around Rs.1.12,000. I have opened this FD through online and I will be getting the amount same to my account. AXIS gave me premature withdrawal, I can close whenever I want.
      Was this review helpful? 6
      , mumbai
      Reviewed on Jun 13, 2017
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