Archive · 19 Aug 2026
Why More Indians Are Opening Fixed Deposits Digitally
A fixed deposit lets people keep money with an institution for a chosen time at a known interest rate.
Many people like FDs because they can plan how much money they will receive.
Digital platforms make it easier to compare different FD choices in one place.
JioFinance shows options from several partner banks and NBFCs.
Eligible users can complete paperwork, payment and confirmation online.
Bank deposits and NBFC deposits have different safety and insurance rules.
Investors should check the issuer, time period, payout method and withdrawal conditions.
They should also remember that FD interest may be taxable.
Digital platforms let users compare FD rates, tenures, issuers and payout options before investing.
JioFinance lists options from partner institutions including Unity Small Finance Bank, Suryoday Small Finance Bank, Bajaj Finance, Shriram Finance and Mahindra Finance.
Eligible users can complete KYC, pay online and receive digital confirmation through the JioFinance App.
Bank FDs may carry DICGC insurance up to ₹5 lakh per depositor per bank, while NBFC deposits are not covered by DICGC insurance.
Investors should review premature withdrawal rules, issuer conditions and the tax treatment of FD interest before investing.
- Who
- Indian residents aged 18 and above who meet the applicable requirements, along with partner banks and NBFCs listed on JioFinance.
- What
- More investors are using digital platforms such as JioFinance to compare and open fixed deposits online.
- When
- The article describes this as a current shift, with JioFinance currently listing partner institutions.
- Where
- Through the JioFinance App and other online processes in India.
- Why
- Online platforms bring rates, tenures and issuer information together and can reduce paperwork and branch visits.
- Product
- Fixed Deposit, with cumulative and non-cumulative payout options.
- Digital platform
- JioFinance allows eligible users to compare and book selected partner FDs online.
- Listed institutions
- Unity Small Finance Bank, Suryoday Small Finance Bank, Bajaj Finance, Shriram Finance and Mahindra Finance.
- Available tenures
- Depending on the institution and product, tenures can range from seven days to longer periods.
- Bank deposit insurance
- Insured bank deposits are covered by DICGC up to ₹5 lakh per depositor per bank, including principal and interest, subject to applicable rules.
- NBFC deposits
- NBFC deposits do not come under DICGC insurance, so investors should review issuer ratings and deposit conditions.
- Tax and withdrawal considerations
- FD interest is taxable under applicable income-tax rules, and premature withdrawal may lead to a lower interest rate or penalty.