Axis Bank revolutionizes fixed deposit creation by enabling users to invest directly from other bank accounts via UPI and net banking without prior fund transfers.
Kochi: Axis Bank has introduced a simplified process for initiating fixed deposits (FDs) using funds from other bank accounts, making investments more convenient for customers. One of India’s leading private sector banks, Axis Bank now allows users to open FDs via UPI and net banking through its mobile banking app, eliminating the need for prior fund transfers between accounts.
With this innovation, Axis Bank becomes the first private sector bank to leverage the Account Aggregator framework for next-generation banking services. Sameer Shetty, President and Head of Digital Business & Transformation at Axis Bank, highlighted that this feature aims to provide a seamless banking experience, enabling customers to invest in FDs effortlessly. He emphasized that this eliminates the traditional hassle of transferring funds before initiating a fixed deposit, making the process more user-friendly and efficient.
By integrating digital payment solutions with investment products, Axis Bank continues to enhance accessibility and ease of banking, reinforcing its commitment to customer-centric financial solutions.
