Axis Bank launched digital US Dollar Fixed Deposits for NRIs at GIFT City

Axis Bank launched digital US dollar fixed deposits for NRI customers at IBU, GIFT City, offering a paperless solution

On Tuesday, Axis Bank unveiled the launch of digital US dollar fixed deposits (FD) designed specifically for non-resident Indian (NRI) clients at the IFSC Banking Unit (IBU) located in GIFT City, Gujarat. By introducing this service, Axis Bank claims the distinction of being the pioneer in offering a digital pathway for GIFT City Deposits, as per the bank's statement. NRI customers of the bank can now establish US dollar fixed deposits at GIFT City via 'Open by Axis Bank,' the mobile banking application provided by the institution. This innovation simplifies the process of securing US dollar fixed deposits for NRI clients, presenting them with a fully digital, paperless solution and eliminating the need for physical documentation.

Additionally, besides the convenience of initiating an FD account anytime and from anywhere, customers can efficiently monitor and manage their FD digitally, states the bank. With competitive interest rates, Axis Bank offers NRIs one of the most attractive investment opportunities, it further mentions. The US dollar fixed deposit scheme offers a range of investment periods spanning from seven days to a maximum of ten years, according to the bank. Furthermore, customers have the flexibility to request partial or complete premature closure of their FDs through the Axis Bank mobile application, thereby enhancing their control and convenience over their investments.