Apply for a Fixed Deposit Online: Streamlining the Process

Posted on Tuesday, February 13th, 2024 | By IndusInd Bank

Fixed Deposits (FDs) are a secure way to grow your money with assured returns. Unlike market-linked investments, the appeal of an FD lies in its predictable growth. You know exactly how much you will receive at maturity. Such assurance makes FDs preferred by many, especially those who want to avoid risks.

However, it was not always smooth to open an FD. Earlier, you had to prepare yourself for multiple bank visits, lengthy paperwork, and long queues. The process was slow, requiring patience as you waited for the bank staff to handle your application and formalities. But this was the only option you had.

Today, technology has made this process quicker and more accessible to everyone. Digital platforms have replaced the piles of paperwork and long hours of waiting. With just a few clicks, you can complete banking tasks that once took hours. Let’s look at how IndusInd Bank has embraced this technological evolution, helping you apply for a fixed deposit online instantly.

How to Open a Fixed Deposit Account with IndusInd Bank: Quick steps

• Visit IndusInd Bank’s official website.
• Log in with your credentials.
• Look for the FD option.
• On the FD page, you will find an ‘Apply Now’ button. Clicking this will take you to the application form.
• Provide personal details like your name, address, contact details, etc.
• Decide how much you want to deposit and for how long. Options range from 7 days to 10 years.
• After entering all information, submit your application.
• Once done, the specified amount will be moved from your savings account to your FD account.

And that’s it. This is how you open an FD online with just a few clicks!

Can Those Who Aren’t IndusInd Bank Customers Open a Fixed Deposit with the Bank?

Yes, non-IndusInd Bank customers can also open an online fixed deposit with the bank. The steps are the same, with the added requirement of a video KYC process. This step is crucial for identity verification and is seamlessly integrated into the online application procedure.

Ensure you have a good internet connection and a device with a camera for this step. Also, keep your original PAN card, Aadhaar card, a pen, and a piece of paper ready. These preparations will facilitate a seamless and hassle-free FD opening experience.

Note that since you do not have an IndusInd Bank Savings account, the amount post-FD maturity will be disbursed to you through a demand draft issued in your name.

Why Should You Opt for an IndusInd Bank Fixed Deposit?

Choosing IndusInd Bank for your fixed deposit account means benefiting from:

• Best in-class interest rates: You get the best FD interest rates, which can lead to substantial growth of your savings over time.
• Flexible tenure options: You have the flexibility to choose a tenure that aligns with your financial goals. The tenure ranges from 7 days to 10 years.
• Convenient online process: You can complete the steps to open a fixed deposit online within a few minutes. The entire process is 100% paperless and digital.
• Loan facility: In case of financial emergencies or situations where you need immediate access to your funds, you can take a loan against your FD.
• Auto-renewal feature: Set up your FD to renew by itself when it matures. This means your money keeps growing without any breaks or interruptions.
• Payout options flexibility: Choose your preferred interest payout frequency, whether monthly, quarterly, half-yearly, or yearly. This option is ideal if you need regular interest income to meet your living expenses.

Over to you

Digitalisation has revolutionised the way people approach and handle fixed deposits. Now, you have the power to access all details, compare interest rates, receive regular updates, and manage your FD anytime, anywhere. This change brings valuable convenience right to your fingertips.

IndusInd Bank has not only adopted the digital process for fixed deposits but has also enhanced it with additional premium benefits. Thus, you make a decision that promises security and prosperity for your financial future.

So, why delay your savings growth? Open a fixed deposit online with IndusInd Bank today.

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.