Lock FD! New Feature from AXIS Bank to save Customers from Fraud

The digital frauds are on the rise. To save customers from Digital Fraud, Axis Bank has launched a new feature – ‘Lock FD’.

You can use the ‘Lock FD’ feature either through the Axis Bank mobile app or by visiting a branch. It lets you stop premature withdrawals from your fixed deposit through online channels. Once you turn it on, the only way to break your FD before maturity is to go to an Axis Bank branch in person. This extra step helps protect your money from online fraudsters who might steal your login details or use SIM swap scams to take money from your FD before it matures.

When a customer enables the feature, online and mobile banking options for early FD withdrawal are completely blocked. If the customer later wishes to close the deposit before maturity, they must physically visit a branch, where staff will perform face-to-face verification and strict identity checks before processing the request. This in-branch process makes it much harder for fraudsters to misuse stolen details to access funds.

How to activate ‘Lock FD’ in Axis Bank:

1. Log into the Axis Bank mobile app, open the FD details section, and turn on the ‘Lock FD’ option.
2. Visit any Axis Bank branch and request a staff member to enable it for you.

Sameer Shetty, Group Executive – Digital Business, Transformation & Strategic Programs at Axis Bank, explained that the feature not only protects term deposits from unauthorized access but also blocks alternative fraud methods, giving customers peace of mind about the safety of their savings.

In addition to ‘Lock FD’, Axis Bank has also launched an in-app mobile OTP system. This generates one-time passwords directly inside the mobile banking app instead of sending them via SMS. By removing dependence on text messages, the bank reduces the risk of OTP theft, further boosting transaction security.

Interest Rates on Domestic Deposits

Axis Bank Deposits – Less than ₹ 5 crores* w.e.f 06th August 2025**
Maturity Period	Interest Rates (percent per annum)
	General		Senior Citizens
	Less than ₹ 3 Cr	₹ 3 Cr to less than ₹ 5 Cr	Less than ₹ 3 Cr	₹ 3 Cr to less than ₹ 5 Cr
7 – 14 days	3.00	4.00	3.50	4.50
15 – 29 days	3.00	4.00	3.50	4.50
30 – 45 days	3.25	4.80	3.75	5.30
46 – 60 days	4.00	5.05	4.50	5.55
61 days – 87 days	4.00	5.30	4.50	5.80
88 days – 3 months 24 days	4.50	5.80	5.00	6.30
3 months 25 days < 4 months	4.50	4.25	5.00	4.75
4 months < 6 months	4.50	5.80	5.00	6.30
6 months < 9 months	5.50	5.95	6.00	6.45
9 months < 1 year	5.75	6.05	6.25	6.55
1 year – 1 year 10 days	6.25	6.30	6.75	6.80
1 year 11 days < 13 months	6.25	6.30	6.75	6.80
13 months < 15 months	6.25	6.30	6.75	6.80
15 months < 18 months	6.50	6.50	7.00	7.00
18 Months < 2 years	6.60	6.60	7.10	7.10
2 years < 3 years	6.60	6.65	7.10	7.15
3 years < 5 years	6.60	6.65	7.10	7.15
5 years to 10 years	6.60	6.60	7.35	7.35