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Why and how to apply FD online

Applying an FD online is extremely easy and comes with freebies as well.

Fixed deposits (FD) is the government job among the different saving and investment options. While other financial products come with risk, whether it is on their principal and interest, fixed deposits have zero risk.

Opening an FD is extremely easy, and now it is more comfortable with online banking, mobile banking. This means that you can easily open an FD online. Need a good reason to open an FD online, here are a few.

Applying for a fixed deposit online is extremely easy. You don’t have to fill forms. You need to log into your net banking or open your bank app. You can select the tenure and amount according to your choice. When you enter the tenure, many banks offer the facility to see the interest rate. Once you are satisfied with the tenure and interest rate, you can click on the ‘submit’ or ‘open now’ button. As your FD is linked with your savings account, the amount will be automatically deducted from your savings account.

And not just the ease, opening an FD online also comes with freebies. Many banks want their customers to do online transactions like opening a bank FD online, and they are pushing it through with the help of freebies.

Now, that you are well aware of the benefits, here’s how you can open an FD online:

How to apply for FDs online?

We will look at how to open online FDs in two of the most popular banks in the country: SBI and HDFC Bank.   

How To Open SBI Fixed Deposit (FD) Online

If you have an SBI savings account, you can easily open a fixed deposit online.

Here are the steps that you can follow to open an SBI FD online:

Step 1:  Go to and log in to your SBI net banking with your details.

Step 2: Click on the ‘Deposit Schemes’ option from the home page and click on ‘Term Deposits’. Then click on ‘e-fixed deposit’ on the top menu.

Step 3: Choose the type of FD of your choice and click on ‘Proceed’.

Step 4: Enter the principal amount and fill it in the ‘Amount’ column as well. If you are a senior citizen then tick on the ‘Senior Citizens’ tab.

Step 5: Now select the payout option. If you don’t want any payout, then select the payout option, and if you want a payout, then choose the frequency of the interest payout.    

Step 6: Choose what you want to do with the matured amount. Do you want it to be reinvested, or do you want it in your savings account? Select this and then accept the terms and conditions and hit submit.   

How to apply for HDFC Bank FD online

Here are the steps:

Step 1: Log into your HDFC savings account through the net banking portal.

Step 2: Hit the Transact section and select the Open Fixed Deposits option.

Step 3: Select the branch, enter the tenure and amount that you wish to invest. Also, you can appoint a nominee. Then, click on continue and then confirm.

So isn’t it easy to open fixed deposits online? These were just two banks. The procedure will be more or less similar to other banks as well. Hence, no matter which bank you have a savings account, you can easily open a fixed account online through internet banking.


Interest Rate
6%* p.a.
( 6.5% p.a. for Senior Citizens)(Open Kotak 811 and Book an FD to earn up to 7.00% interest)
Minimum Balance
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  • You can now avail the benefits of the banking solutions with a single touch
  • Kotak 811 offers a virtual debit card (VDC) for the ease of online banking
  • Ideal for all your daily needs such as shopping, groceries, cab payments, and various others
  • Earn 7.00% interest on fixed deposits and Senior Citizens can earn upto 6.5% p.a. To know more click
Interest Rate
4% p.a.
(Balance above Rs. 50 lac)
3.5% p.a.
(Balance of below Rs. 50 lac)
Minimum Balance
Show Details
  • Get the zero balance savings account number instantly
  • A free virtual debit card for online transactions
  • Transfer funds, get account statements, pay bills, and so more –free of charge

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