How to Invest in Fixed Deposit (FD)?
By Opening an FD Account Offline:
- Visit your nearest bank or the bank in which you already have a saving account along with valid ID proof like PAN card, AADHAR card, voter ID card, etc.
- Ask the bank representatives about opening FD account, and collect FD form.
- Select the investment tenure and also check the applicable interest rates, as interest rates differ as per the investment tenure.
- Deposit the form and bank will check the details and on verification of details and completing KYC, you can chose either to deposit the amount via cash or cheque at time of depositing FD from or you can direct bank to deduct amount from the bank account already available with them.
- On competition of formalities, bank will create a FD and will issue a FD certificate which is to be safely kept will the maturity of tenure.
By Opening an FD Account Online:
- Browse to the web portal or mobile application of the bank partner with which you want to open FD account, now-a-days almost every bank provides the facility of providing FD account opening online.
- Login with your credentials and navigate to “Open FD“
- Select the best FD plan suitable to you
- Proceed to video KYC and fill up the required verification details using TPIN or MPIN
- Your FD will be opened and details shall be communicated on your email and postal address.
(It is important to note that every bank has there own set of online facility and the above steps might differ.)
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