Last Updated:June 16, 2025, 15:01 IST
With an FD, you deposit a lump sum for a fixed tenure at a predetermined interest rate.
Compare interest rates, tenure options and benefits to find the best plan. (Representative Image)
Fixed Deposit (FD) accounts are a reliable way to grow your savings. With an FD, you deposit a lump sum for a fixed tenure at a predetermined interest rate. Upon maturity, you receive the principal amount along with compound interest. In India, FDs are widely considered one of the safest and most effective savings options. If you’re wondering how to skip the queue at the bank and open an FD from the comfort of your home, here are a few simple steps to get started online:
How to Open a Fixed Deposit (FD) Online in India: A Step-by-Step Guide
Step 1: Research And Compare Options
Before opening an FD, explore different banks and financial institutions. Compare interest rates, tenure options and benefits to find the plan that best aligns with your financial goals.
Step 2: Log In Or Create An Account
If you’re an existing customer, log in to your bank’s internet banking portal. New users will need to create an account by providing personal details and completing the registration process.
If you’re not an existing customer, visit the bank’s website or app, open a new account by submitting your details and documents, and complete the video KYC.
Step 3: Navigate To The FD Section
Once logged in, locate the “Fixed Deposit” or “Digital FD” section on the bank’s dashboard. The exact name may vary depending on the bank.
Step 4: Fill Out The FD Application
Select the type of FD you wish to open—cumulative, non-cumulative or tax-saving. Enter necessary details such as your Aadhaar number, PAN, nominee information, and the amount you wish to invest. A video KYC (Know Your Customer) verification is usually required to complete the process.
Step 5: Make the Payment
After verifying your details, proceed to make the payment via net banking, UPI, or any other supported online method. Once completed, your FD will be officially booked, and you’ll receive a confirmation.
Before completing the FD application, please review the terms and conditions. Pay attention to early withdrawal penalties, interest payment frequency and renewal alternatives. After you’ve opened your FD account, you must successfully manage it. Keep track of key dates, including maturity, interest payment deadlines, and renewal possibilities. Setting maturity date reminders will allow you to take timely action to renew or remove money.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
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