Can I Start an FD online?
- Posted:24th July, 2024
- Updated:24th July, 2024
Yes, most financial institutions allow you to open a Fixed Deposit (FD) online. This process typically involves the following process:
- Log in to Your Account: Access your bank's internet banking portal or mobile app.
- Navigate to the FD Section: Look for the ""Fixed Deposit"" option in the menu, usually under investments or deposits.
- Select FD Type: Choose the type of FD you wish to open.
- Enter Details: Provide the deposit amount, tenure, and other required details. You can also select the interest payout frequency (monthly, quarterly, etc.).
- Verify and Confirm: Review the details, verify them, and confirm to proceed.
- Fund the FD: The amount will be debited from your linked savings account, and your FD will be created instantly.
Note: While the process is generally online, some financial institutions may require physical documentation for larger deposits or specific customer types.
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