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How to Close Axis Bank FD Online

Updated 12 Dec 2023

Having an account in Axis Bank can be very beneficial as a customer, given their reputation for great service and facilities. Closing an FD can be due to a variety of reasons.

 

Premature withdrawal because of immediate need of funds, death of the account holder following which you’d want to remove the money out, and the maturity period completion, which leads to the money being deposited into your account. Let’s look at how to break an Axis Bank FD through different modes.

Premature withdrawal of Axis Bank FD Account (Before Maturity)

Through Internet Banking

  • Access the online banking portal and choose 'Accounts'.
  • Select 'Deposits'.
  • Choose your FD.
  • Opt for 'Break FD'.
  • Choose the account to receive the funds.
  • Enter your NetSecure Code and Submit.
  • Your request for FD closure will be processed immediately.

 

Axis Mobile App

  • Launch the Axis mobile app and select 'FD/RD'.
  • Choose your FD number.
  • Choose 'Close Fixed Deposit'.
  • Enter your MPIN.
  • Click 'Submit'.

 

By Visiting an Axis Bank Branch

  • Head to any Axis Bank branch, provide a photo ID and give them a signed Fixed Deposit Advice to close your FD account.

 

Scheduled FD (Post Maturity) Through the Axis Bank Mobile Application

  • Start the Axis Bank app on your phone.
  • Select 'FD/RD'.
  • Pick the FD number that you want to shut down.
  • Opt for 'Close Fixed Deposit'.
  • Enter your MPIN, and send it to your registered mobile number.
  • Hit 'Submit' to close your FD.

 

Using Axis Bank Internet Banking

  • Access the Axis Bank online banking portal.
  • Choose 'Accounts' and then select 'Deposits'.
  • Go to 'More Services' and opt for 'Break FD'.
  • Choose the account to receive the funds.
  • Enter your Axis Bank NetSecure Code.
  • Click 'Submit'.

FAQs

Is there a penalty for prematurely breaking my Axis Bank FD?

There may be a penalty for breaking your FD before its maturity. The penalty rate can vary, so it's best to consult the bank or check the terms when you create the FD.

After breaking the FD, how soon will I receive the funds?

Typically, the funds, which include the principal amount and the interest earned till that date (minus any penalty, if applicable), will be credited to your linked bank account immediately.

Can I break my Tax Saver FD with Axis Bank before its maturity?

No, Tax Saver FDs have a lock-in period of 5 years, so they cannot be broken before this period ends.

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