My questions on Axis Bank Encash 24 FD

POSTED BY deepesh_150 ON January 5, 2015 10:43 am ONE COMMENT

Hi,

I have  enrolled for Axis bank Encash 24 Linked FD .

Anyone who is using same facility in Axis bank can guide/clarify as this scheme doesnt look transparent.Even Bank doesn’t provide clarity

1.Is there any particular space where my Encash 24 FD’s (Total nos, of FD,Date of creation/Maturity,Interest, etc etc) will be displaced on Net banking?

2.How will i keep track or ensure Autosweep & Interest payment are working as per banks committments as there will be regular transaction such as EMI,ATM withdrawals etc?

3. Is it worth to have these linked FD’s as system doesnot look transparent in Axis bank?

4.if my saving account is used for regular EMI deductions and threshold balance will keep getting less than 25,000 ..then each time Encash 24 FD’s will get broken..!!

Regards

Deepesh

One reply on this article “My questions on Axis Bank Encash 24 FD”

  1. Its nothing but auto sweep facility in Axis Bank with this name .. Read more about this here

    https://www.jagoinvestor.com/2011/03/auto-sweep-bank-account.html

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