Fixed deposits are one of the most widely used forms of saving and investing money in India. This is mainly because they give a fixed and steady income on the money which is invested. The rate of interest received on Fixed Deposits is higher than the amount of interest given by banks on all their other types of accounts. The term of a fixed deposit would depend on the schemes offered by the bank. If you are looking to open a Fixed Deposit account, there are many options available to you. All reputed banks offer some really good FD schemes. It is always a wise idea to compare your options in order to choose one which would be the most feasible to you.
|Apply FD Online|
Thanks to the internet, opening a Fixed Deposit account is much easier than it was before. You can now open your Fixed Deposit account by completing most of the work online. You will have to provide a few important details. Here is a simple step-by-step method on how to easily open a fixed deposit account online:
1) Bank Bazaar is the one stop place where you can compare Fixed Deposit Schemes online and apply for one which you find most convenient to you. They have tie-ups with the best of banks across India. You can find details city-wise or even on a national basis.
2) Once you open Bank Bazaar’s website, you can click on the fixed deposit tab. From the drop down, you can choose to see details of a specific bank, or you can even take a look at the best rates offered on Fixed Deposits.
3) You have to customize your search by filling in details of the amount and the number of years or days. You will be provided with details of the rates offered by various banks in accordance with the tenure and amount of fixed deposit you chose.
4) If you already have in mind a specific bank, there is no need for you to compare the rates offered. What you could do, to save time, is directly check the specified bank’s fixed deposit details.
5) Once you make your choice, you need to choose the option ‘Apply Now’. You will be provided with a fixed deposit account application for a specific bank’s scheme which you had chosen. You need to fill up the form and hand it in, in the nearest branch office of the bank you chose to open your account it.
6) Along with the application form which you fill up online you will have to provide identity proof and some other documentation.
You will need one of the following for ID proof:
● PAN card
● Voter ID card
● Driving licence
● Government ID card
● Photo ration card
● Senior citizen ID card
For Address Proof you are required to provide any of the following documents as per the bank’s satisfaction:
● Telephone bill
● Electricity bill
● Bank Statement with Cheque
● Certificate/ ID card issued by Post office
The documentation which has to be provided might slightly vary depending on the requirements of the bank you carry out your dealings with.