What is it? FD can be broken anytime. The deposited principal amount will be paid as it is whereas the payable interest amount will be 1% lesser than the applicable interest rate.
Insured by the government covering both principal and interest amount
About Axis Bank
The bank was founded as UTI Bank in 1993 and later renamed to Axis Bank in 2007. It is the third largest bank among Indian private sector banks in terms of assets. It is headquartered in Mumbai. It sells financial services to large and mid-sized companies, SMEs and retail businesses. It provides banking services to a customer base of more than 9 million people over a network of 4500+ branches spread across the county and its state-of-the-art digital channels.