Axis Bank on Tuesday announced the introduction of digital US dollar fixed deposit (FD) for NRI customers at the IFSC Banking Unit (IBU) at GIFT City, Gujarat.

With this introduction, Axis Bank becomes the first bank to offer a digital journey for GIFT City Deposits, the bank said in a statement.

NRI customers of the bank can now open US dollar fixed deposits at GIFT City through 'Open by Axis Bank'; the mobile banking application of the lender, it said.

This offering simplifies the process of booking US dollar Fixed Deposit for NRI customers, by providing them an end-to-end digital paperless solution and eliminating the need for physical documentation, it said.

Besides seamlessly opening an FD account anytime from anywhere, customers can also track and manage their FD digitally, it said.

With attractive interest rates, Axis Bank provides NRIs with one of the best investment opportunities, it said.

The US Dollar fixed deposit also offers a wide range of investment tenures from seven days up to ten years, it said, adding customers can also request partial or full premature closure of the FD from the Axis Bank mobile application.

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