Axis Bank Ltd.

Axis Bank has reportedly removed penalty on premature closure of all new retail term deposits booked on or after December 15, 2020 for tenure of 2 years or more. The objective of this customer-friendly feature is to inculcate and encourage retail customers to go for long-term savings without worrying about the sudden need for liquidity. The new feature will be applicable on all new fixed deposits and recurring deposits.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.