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How Digital Technology Has Revolutionised the Online FD Opening Process
Posted on Wednesday, September 27th, 2023 | By IndusInd Bank
From hassle-free online booking and document submission to instant approvals, the adoption of digital technology has transformed the online FD opening process and made financial planning convenient for customers.
Opening a fixed deposit FD account at a bank was once considered tedious and time-consuming. It involved multiple visits to the bank, a tonne of paperwork, enduring long queues, and waiting for the bank personnel to process the application. However, the advent of digital technology has brought on a significant transformation in the financial world. This digital shift has enhanced the online FD opening process, offering speed, convenience and a wider reach while streamlining operations for banks and financial institutions. IndusInd Bank provides a seamless and instant online FD booking process to help you meet your short-term and long-term financial goals. Keep reading for a comprehensive understanding of fixed deposits, and the steps to book an FD with IndusInd Bank.
What Is a Fixed Deposit?
A fixed deposit is a financial investment option offered by banks and financial institutions. It enables individuals to deposit a sum of money for a predetermined period, typically ranging from a few days to several years, at a fixed interest rate. The principal remains fixed for the specified period, and interest is normally paid out on a regular basis or at maturity. Fixed deposits are known for their safety, stability and guaranteed yields, which make them a popular option for risk-averse investors looking to preserve capital and generate a consistent income.
How to Book an IndusInd Bank Fixed Deposit Instantly?
You can book an instant FD with IndusInd Bank in three ways:
| 1. Through Web Application Applicable for Non-IndusInd Bank customers as well – Verify your PAN and Aadhaar number – Provide your personal information and FD Details – Complete the Video-KYC process – Add funds to your fixed deposit | 2. Through IndusMobile – Use your internet banking ID to log in to the IndusMobile app and choose the deposit option – Choose Create Fixed Deposit and fill out the required information accurately – Upon successful submission, your savings account will be debited for the desired amount | 3. Through IndusNet – Choose the deposit option on your IndusNet online banking account – Select Open FD and provide the required information – Choose the amount you want to add to your fixed deposit from your savings account |
Features of IndusInd Bank’s Fixed Deposit
Let us take a closer look at the key features of IndusInd Bank’s fixed deposit:
- Hassle-free instant online booking in three simple steps
- Best-in-class interest rates starting at 7.50% 8.25% for senior citizens
- Flexible tenure ranging from seven days to ten years
- A minimal deposit requirement of INR 10,000
- Auto-renewal option upon maturity
- Flexible interest payment options, such as monthly, quarterly, half-yearly, yearly or at maturity
- Instant video-KYC facility for seamless FD booking
- A 5-year FD option for tax-saving benefits
IndusInd Bank also provides you with a convenient fixed deposit calculator tool to assist you in determining the accrued interest and the maturity amount for your fixed deposit. All you need to do is enter the desired deposit amount and the chosen tenure. This tool will provide insights into the potential returns on your fixed deposit.
Secure your financial future with IndusInd Bank’s fixed deposit. Book yours 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.
