Archive · 10 Aug 2025
Axis Bank Rolls Out 'Lock FD' to Combat Online Scams
Axis Bank introduced 'Lock FD' to keep your fixed deposits safe.
It stops thieves from taking your money online.
You can turn it on in the bank's app or at a branch.
Once locked, you can't withdraw the money early online.
To get it early, you must go to a branch and prove who you are.
This makes it much harder for hackers to steal your money by using your stolen login details or doing SIM swap scams.
It's like adding an extra lock to your savings to make them extra secure!
Axis Bank has launched 'Lock FD' to protect fixed deposits from online scams.
The feature prevents unauthorized digital access to fixed deposit accounts.
Customers can activate the feature through the Axis Bank mobile app or at a branch.
Premature withdrawals from digital channels are disabled once the FD is locked.
To withdraw early, customers must visit a branch for in-person verification.
- Who
- Axis Bank customers
- What
- Axis Bank launched 'Lock FD' to protect fixed deposits.
- When
- August 10, 2025
- Where
- Axis Bank branches and mobile app
- Why
- To protect fixed deposits from online scams and unauthorized access.
Customers
Bank
Security vs. Convenience
Customers
Enhanced security for fixed deposits.
Bank
Potentially more difficult access to funds.
- Feature Name
- Lock FD
- Purpose
- Protect fixed deposits from cybercrime and scams
- Activation Methods
- Mobile app or branch visit
- Effect of Locking
- Disables premature withdrawals via digital channels
- Premature Withdrawal Process
- Branch visit with in-person verification
- Added Security
- Reduces risk of unauthorized access