Mumbai: Axis Bank today announced the introduction of Digital US dollar Fixed Deposit for NRI customers at Axis Bank IBU- GIFT City.

NRI customers of Axis Bank can now open US dollar Fixed Deposits at GIFT City through ‘Open by Axis Bank’; the mobile banking application of Axis Bank. This offering simplifies the process of booking US dollar Fixed Deposit for NRI customers, by providing them end-to-end digital paperless solution and eliminating the need for physical documentation. Besides opening an FD account anytime from anywhere, customers can also track and manage their FD digitally, the bank said in an official statement.

The US Dollar fixed deposit also offers a wide range of investment tenures from seven days up to ten years Customers can also request partial or full pre-mature closure of the FD from the Axis Bank mobile application.

Vivek Gupta, President & Head – Wholesale Banking Products, Axis Bank said, “Axis Bank as a leading Bank at GIFT City, is committed to supporting the Government’s vision for developing GIFT City as a preferred financial services destination for global investors – both Corporate and Retail. We are excited by the opportunity to now attract retail NRI customers with our GIFT City IFSC Banking Unit (IBU)’s digital FD value proposition. The IBU’s digital US Dollar FD will enable NRI customer’s multiple options of tenure and interest rates to choose from and they can be assured of high-quality service from the IBU’s dedicated team.” DeshGujarat