As online banking becomes more widespread, concerns over digital fraud are also rising. To address these worries, Axis Bank has launched a new security tool called ‘Lock FD’, aimed at safeguarding customers' fixed deposits (FDs) from unauthorized digital withdrawals.
The ‘Lock FD’ feature is a safety mechanism that prevents premature withdrawals of fixed deposits through digital channels such as internet and mobile banking. Once activated, the only way to break the FD before maturity is by visiting an Axis Bank branch and completing an in-person identity verification process.
This feature is available through the Axis Bank mobile app and at all bank branches, ensuring both digital-savvy users and traditional customers can access it conveniently.
With increasing cases of online scams and identity theft, financial institutions are under pressure to improve security for their customers. Axis Bank’s ‘Lock FD’ feature is a proactive measure designed to help customers — especially senior citizens or those less comfortable with digital platforms — feel more confident about their savings.
It creates a safety net by ensuring that fixed deposit funds can’t be withdrawn digitally without the account holder’s physical presence and authentication.
The Lock FD feature is available to all Axis Bank customers, including:
Existing FD holders who want to protect their deposits
New customers who can enable the feature while opening a new FD
Senior citizens or individuals who prefer in-person banking for added peace of mind
Activating the Lock FD feature is easy through the Axis Bank mobile banking app. Here’s a step-by-step guide:
Log in to the Axis Bank mobile app using your mPIN.
Navigate to the FD/RD section on the homepage.
Tap on the ‘Lock FD’ banner visible within this section.
If you have multiple fixed deposits, select the one you want to lock.
Confirm your selection by entering your mPIN.
The chosen fixed deposit is now protected from digital premature withdrawals.
Customers who prefer face-to-face interaction or are not comfortable using mobile apps can also visit any Axis Bank branch to activate the Lock FD feature. For new fixed deposit accounts, the option to enable this security can be selected during the account opening process.
Once activated, the Lock FD setting disables digital access to break your fixed deposit early. That means even if someone gains access to your banking credentials, they cannot withdraw FD funds online.
To withdraw the FD prematurely, you must visit a branch physically and provide valid identity proof. This drastically reduces the risk of fraud and helps customers feel more in control of their savings.
Enhanced Protection Against Online Fraud: Even if your digital banking login is compromised, your FD stays secure.
Better Control Over Savings: The feature discourages impulsive early withdrawals, helping you stick to long-term financial goals.
Ideal for Senior Citizens: Offers added safety for older customers who may be more vulnerable to online scams.
Easy Setup: Available through both the Axis Bank app and physical branches.
Axis Bank offers competitive interest rates on fixed deposits, ranging between 3.5% and 7.75%, depending on the amount and tenure. With the Lock FD feature, customers are encouraged to hold their investments for longer periods, thus enabling them to maximize interest earnings while staying protected.
In a time where cybersecurity concerns are rising, Axis Bank’s Lock FD feature is a welcome solution. It offers peace of mind, financial discipline, and stronger protection for depositors. Whether you're opening a new FD or securing an existing one, activating this feature could be a smart step toward safe and responsible saving.