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Overview
Wouldn’t you like a facility that lets you have access to funds as and when you require them, even as you pay interest only on the amount you utilize? Enjoy this benefit through 24x7 Overdraft by Axis Bank. An overdraft is a quick and convenient option when you need funds urgently - be it for your business requirements or individual needs. Since it is an overdraft facility, interest is charged on the amount that is drawn or utilised, and not the entire limit available. For instance, if you have an overdraft limit of Rs. 50,000, but you withdraw or utilise only Rs. 25,000, the interest will be applicable on Rs. 25,000 and not on the entire limit of Rs. 50,000.
24x7 Overdraft Against Fixed Deposit
Use this facility to get funds online and instantly against your fixed deposit with Axis Bank, without breaking it before maturity. This ensures your savings are not liquidated while you get instant access to funds* as and when required. It is available for both business and salaried customers who have Fixed Deposits with Axis Bank.
How to Apply
- 01
Log in to Internet Banking Apply Now > Loans > Loan against Fixed Deposit
- 02
Log in to Mobile Loans > Loan against Fixed Deposit
Features & Benefits
Instant access to funds
Apply online and get access to funds in just few seconds
Overdraft of up to 85% of the fixed deposit amount
If you have a fixed deposit of ₹1 lakh, under the overdraft facility you are eligible to borrow up to ₹85,000
Pay interest on the amount utilised
If you are eligible to access funds of up to ₹85,000 but you withdraw only Rs 50,000 then you will be charged interest only for ₹50,000
Frequently Asked Questions
24x7 Quick Overdraft
24x7 Quick Overdraft is a paperless option for an instantly accessible credit facility, to help you with your day-to-day business needs. It can be accessed through Axis Mobile and Internet Banking. Further, this facility grants you customised offers and provides you the option of instantly utilising your funds post creation of the overdraft. You also have the choice of keeping the funds in readiness for any future need that could come up. 24x7 Quick Overdraft is for self-employed individuals/business owners.
How to Apply
- 01
Step 1
Log in to Internet Banking Apply Now > Loans > Loan against Fixed Deposit
- 02
Step 2
Log in to Mobile Loans > Loan against Fixed Deposit
Features & Benefits
Instant access to funds
Apply online and get access to funds in just few seconds
Overdraft of up to 85% of the fixed deposit amount
If you have a fixed deposit of Rs 1 lakh, under the overdraft facility you are eligible to borrow up to Rs 85,000
Pay interest on the amount utilised
If you are eligible to access funds of up to Rs 85,000 but you withdraw only Rs 50,000 then you will be charged interest only for Rs 50,000
Frequently Asked Questions
24x7 Quick Overdraft is an overdraft facility that allows business owners to avail an overdraft instantly and anytime through our digital channels such as Axis Internet Banking or Axis Mobile. It is ideal to fund your day to day business requirements.
Yes. In case, you wish to apply for a higher limit than your pre-qualified offer amount, you can do so by visiting the nearest Axis Bank branch or call your dedicated relationship manager
Auto renewal facility is available for select Axis Bank customers. In case you do not find the auto renewal option online, you can contact your dedicated relationship manager.
24x7 Overdraft Against Fixed Deposit is an instant overdraft facility which you can avail of against your Axis Bank Fixed Deposits. With this facility you can now meet your immediate fund requirements without liquidating your existing Fixed Deposits.
24x7 Overdraft Against Fixed Deposit is a secured loan since a lien is marked on the fixed deposits against which the overdraft facility is availed.
The funds will be immediately accessible once the overdraft account number is generated by completing the digital application via Axis Mobile or Internet Banking.
24x7 Overdraft Against Fixed Deposit cannot be availed for more that the pre-qualified amount. You may check other offerings under 24x7 Loans for any of your additional fund requirements.
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