Monday, June 21, 2021

DEPOSIT PLUS

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The Deposit Plus strategy has been designed to provide better returns and flexibility in terms of deposits. The investment strategy is high value, and the minimum investment is Rs.15, 00,001.

Axis Bank’s Fixed Deposit Plus is a lump sum investment option. The future customers shall have the right among other criteria to select the form and type of deposit measurement.

FEATURES & BENEFITS

  • High-value investment: The minimum investment level is comparatively considerably higher than the standard time deposit scheme. In exchange, this just leads to higher returns on the investment, which gives you a profit-making maturity.
  • Choose deposit type: The investor is free to choose the form of deposit plus plan such as short-term bank statements, reinvestment plans, or quarterly and monthly options.
  • Select interest computation method: If the holder opts to retain the FD for more than 6 months, the interest shall be measured quarterly. For certain term deposits held for less than 6 months, a simple interest would be available.
  • Customized deposit plans: This type of FD plan permits the consumer to construct a tailor-made deposit scheme by selecting a comfortable tenure and deposit type according to individual financial needs and objectives.

DEPOSIT PLUS: ELIGIBILITY CRITERIA

  • Individuals.
  • Joint account but not exceeding 4 applicants.
  • Minor with a guardian.
  • Partnership.
  • Company (Limited).
  • Trusts.
  • NRIs.
  • Hindu Undivided Families (HUF)

DOCUMENTS REQUIRED TO OPEN A FD

  • Application Form.
  • Depositor’s photograph (2 copies).
  • Identity proof & Address proof as per KYC Norms.
  • PAN Card copy/ Form 60 or 61.
  • Aadhaar Card Details

OTHER HIGHLIGHTS OF DEPOSIT PLUS FD

  • Nomination facility.
  • Automatic renewal option after maturity.
  • Part withdrawal facility on the deposits.
  • Avail loan up to 90% of the deposit amount.
  • The online operation for the FD account.

 

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