How to Open a Fixed Deposit Online: Eligibility and Process

A fixed deposit lets you keep money invested for a chosen time at a fixed interest rate.

You can often open one online without visiting a bank branch.

First, check whether you are eligible and gather the required documents.

These may include identity proof, PAN details, bank information and nominee details.

Then choose how much money to deposit and how long to invest it.

You may also choose whether to receive interest regularly or at maturity.

The bank or platform will verify your identity through digital KYC.

After you transfer the money, you receive confirmation or a deposit receipt.

You should also check tax requirements and renewal instructions.