365telugu.com online news,Mumbai, August 5, 2025: Axis Bank, one of India’s leading private sector banks, has introduced an industry-first feature called ‘Lock FD’, aimed at enhancing the security of customers’ term deposits amid the growing threat of digital fraud. This new feature, available on the Axis Mobile App and at all Axis Bank branches, allows customers to block premature closure of their Fixed Deposits (FDs) through digital channels such as Internet and Mobile Banking.
Once the ‘Lock FD’ feature is activated, customers will only be able to close their FDs prematurely by visiting a branch in person. This branch-only closure, which includes stringent identity verification, adds a robust layer of protection against unauthorized digital access. It is particularly beneficial for individuals who are less familiar with digital banking and more vulnerable to online fraud.
Sameer Shetty, Group Executive – Digital Business, Transformation & Strategic Programs, Axis Bank, said:
“At Axis Bank, we remain committed to building a secure and seamless digital banking environment. The launch of ‘Lock FD’ is a proactive step to address the rising instances of digital frauds. By limiting FD closure to in-branch channels, we are empowering customers to take control of their financial safety while ensuring their funds remain protected from digital threats.”
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The ‘Lock FD’ feature is now available to all Axis Bank customers and can be easily activated via the Axis Bank mobile app or by visiting any Axis Bank branch.
This initiative is part of Axis Bank’s broader digital safety strategy. Recently, the bank also rolled out the ‘In-App Mobile OTP’ feature to enhance security around authentication processes and protect users from OTP-related fraud and scams.
By continuously innovating on the security front, Axis Bank reinforces its commitment to delivering a safer and more trustworthy digital banking experience for its customers.