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  • Fixed Deposit BYTES FROM OUR KITCHEN

    Online Fixed Deposit

    In today’s society, where there is a dearth of jobs that assure you stability in income except in Government jobs, a fixed deposit is more than a necessary personal investment. All the leading banks in India offer fixed deposit schemes to help people make a saving for the future. With so many options and products, in the fixed deposit category one can be confused and clueless unless you have access to ample information on the same. One way of insuring that, is by opening a fixed deposit account online and maintaining it online. Not only does it allow you to compare products and gain access to kinds of information as well as helps clear queries but make the application and maintenance processes easier for the account holder.

    Types of Fixed Deposit Schemes You Can Choose From Online

    There are 3 main types of fixed deposits available from a bank online:

    1. Simple Fixed Deposit:

      The interest rates vary depending on the bank but generally the tenures for simple fixed deposits are anywhere between a 7 days to 10 years.
    2. Special Fixed Deposits:

      These fixed deposits have a different calculation when it comes to tenures and are generally in denominations of days such as 300 days, 700 day or 1000 days.
    3. Tax Saving Fixed Deposits:

      As the name suggests, these financial products help you gain benefits on taxes under Section 80C, however keep in mind that the interest that you earn from a fixed deposit is fully taxable.

    Top 5 Things You Need To Know Before You Make an Online Fixed Deposit

    Here are 5 things you need to know and make sure of, before you opt for an online fixed deposit scheme from a bank:

    1. Go for A Fixed Deposit with a Long Tenure:

      The longer your tenure for fixed deposit, the more interest the bank is going to reward you with. So, make sure that, even if the amount payable every month is small, you pay them over a long tenure. Banks that are often well-known come up with special deposit periods to help enhance their ratio of deposit by offering special returns on specific tenures. Do look out for them.
    2. Choose A Bank with High Credit Ratings:

      When you want to get a fixed deposit from a bank make sure the bank has high credit ratings. This will ensure the safety of your bank and a rewarding experience when it comes to dealing with a bank. You can research that when researching fixed deposits online.
    3. Look out for Additional Benefits:

      A lot of banks give you the advantage of getting a loan facility on fixed deposits when you are in urgent need of cash. Some banks may even offer insurances such as Personal Accident Cover as a free product for the customers.
    4. Liquidity or Premature Withdrawal of Fixed Deposit:

      You have to check the premature withdrawal clause of the FD as banks provide higher rates of interest generally, but the withdrawal fee may not be revealed. It is important to negotiate exit load on premature withdrawals and compromise the liquidity aspect. You can check out this clause online from the bank and then make your decision.
    5. Makes Sure Your Fixed Deposit Helps Your TDS Look Good:

      Once you have made an FD, you will declare the income through FD in the section Income from other Sources when you fill your tax returns. Under the Form 26AS the TDS payments deducted on your FD will be listed. This helps to make sure you save a little more on your taxes by treating your FD like a regular income.

    Top 5 Reasons to Invest in a Fixed Deposit Online

    Yet with so many things to ensure fixed deposit is a safe and secured personal investment method especially when you have it online. Here are the reasons, why:

    1. Online Advantage to Choose:

      It is very easy to apply for an FD online and one can do this through net banking or fill out an online application form. Many banks provide the facility to customers to open a term deposit online.

    2. Easy Payment Options:

      You can apply with the help of any digital payment options, be it credit card, ATM/ Debit Card and net banking. You can also link your bank account where the funds are pulled out automatically and you are simply notified about the payment.

    3. Additional Freebies:

      Some banks offer extra benefits when you apply for a fixed deposit online. This includes loan facilities in case of emergencies and insurance aids like personal accidental cover etc.

    4. Save On Taxes:

      Under the Section 80C of the Income Tax Act, of India, a fixed deposit investment of up to a maximum of Rs.100,000 for up to 5 years have eligibility for tax deductions. You can file the tax deduction information in your income tax returns portfolio online. The tax saving fixed deposits are especially good for saving money and tax at the same time.

    5. Safest Personal Investment:

      Though the returns or rates of interest that you are paid are not very high, it is safe against other options such as Gold or company equities. Banks offer enough security of your money if they institution is old and has a high credit rating.

    So, what are you waiting for? Check out the wide variety of fixed deposit schemes offered on BankBazaar from different banks and financial institutions and choose the fixed deposit that suits your need, the best.

    Monthly Interest Payout Fixed Deposit Reviews

    • SBI Fixed Deposit
      "Good FD account"
      0.5 5.0/5 "Blown Away!"
      I have invested the fixed deposit with State bank of India. Since the branch is nearest by my home and they have given me a locker facility hence i have chosen the fixed deposit with SBI. Overall, I'm very much satisfied with the services with SBI.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 18, 2019
    • YES Bank Fixed Deposit
      "Fraud by Yes Bank"
      0.5 1.0/5 "Really Bad"
      Yes Bank has not credited Interest for my Fixed Deposit. On enquiring they gave me a story that the interest amount has been adjusted towards TDS. They have not provided credit entry for the interest and the debit entry for the TDS respectively.
      Was this review helpful? 2
      , bhopal
      Reviewed on Jan 11, 2019
    • ICICI Bank Fixed Deposit
      "Smart Investment"
      0.5 5.0/5 "Blown Away!"
      In ICICI fixed deposit interest rate is around 6.75% per annum, I opened the FD through online. I have invested Rs. 1 lakh they wont take any charges for the pre matured fixed interest. I believe the interest rate is good compared to the government bank.
      Was this review helpful? 2
      , yamuna nagar
      Reviewed on Jan 10, 2019
    • Kotak Fixed Deposit
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I am having a Fixed Deposit account with Kotak Mahindra bank, they provide good services when compared to other banks. I get good interest rate in returns after the maturity period which is after 3 years. Customer support is average with Kotak Mahindra bank.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 10, 2019
    • HDFC Bank Fixed Deposit
      "Hassle free"
      0.5 5.0/5 "Blown Away!"
      I also have a fixed deposit account with HDFC Bank. The process to open this account is easy. I can do it online. They also offer a good rate of interest on the account. The bank has always been up to the mark to ban with. It is very convenient and easy.
      Was this review helpful? 3
      , noida
      Reviewed on Jan 09, 2019
    • IOB Fixed Deposit
      "Better Banking Experience"
      0.5 4.0/5 "Great!"
      I have invested a fixed deposit with Indian Overseas Bank. My wife has recommended me about this bank since she is working over there. I invested the money of Rs. 50000. I don't remember about the tenure period. Before 1 years, i have invested the money with them.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Jan 09, 2019
    • ICICI Bank Fixed Deposit
      "Good Deposit"
      0.5 5.0/5 "Blown Away!"
      I have invested a fixed deposit with ICICI. There is no reason for selected this bank. They have offered me a interest rate of 6.5% and there is no processing fee. I have invested the money 8 months before. This is a one year plan. I'm happy about the services provided by the ICICI for this account
      Was this review helpful? 1
      , thane
      Reviewed on Jan 04, 2019
    • Corporation Bank Fixed Deposit
      "Average"
      0.5 4.0/5 "Great!"
      I had account with Corporation Bank and its very old one. I put fixed deposit before 3 to 4 years. The interest rate was around 7% which was minimum compared to others but am satisfied. I have deposited for 5 years. Actually have not taken any benefits, just have invested. The customer service was okay.
      Was this review helpful? 3
      , pune
      Reviewed on Jan 04, 2019
    • HDFC Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I do have a fixed deposit account with HDFC Bank. They are giving good interest. I can manage this account on line. I have chosen HDFC because of bank financial is good. I have just started long time, The process was very quick and it was done through on line.
      Was this review helpful? 4
      , thane
      Reviewed on Jan 02, 2019
    • SBI Fixed Deposit
      "Best Investment plan"
      0.5 5.0/5 "Blown Away!"
      I have taken fixed deposit account in State Bank Of India . They are not charging any charges for the account . I used to get income tax benefits . Am satisfied with the customer service and response.They are giving good rate of interest . Overall am happy with my account .
      Was this review helpful? 4
      , ahmedabad
      Reviewed on Dec 29, 2018
    • review Fixed Deposit
      "Good online features on FD"
      0.5 5.0/5 "Blown Away!"
      In Saraswat bank they are providing the interest around 7% per annum, the minimum amount Rs. 5000 to max, still my FD is running with this bank. The online options are excellent without visiting I can track the interest and deposit amount through online.
      Was this review helpful? 1
      , pune
      Reviewed on Dec 17, 2018
    • HDFC Bank Fixed Deposit
      "Convenient FD with HDFC"
      0.5 5.0/5 "Blown Away!"
      In HDFC I can deposit for minimum of Rs. 5000 to max amount. I done the investment of one time payment around Rs.6 lakhs. I can chose the tenure period based on the convenient, it gives the interest of 7% its maximum. I can open and close the account through online.
      Was this review helpful? 6
      , pune
      Reviewed on Dec 17, 2018
    • SBI Fixed Deposit
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had made this investment pretty long time back and the services which they had provided so far has been good. The interest rate with them has been good and the growth with the investment has also been good. Their customer support has been helpful in guiding with everything.
      Was this review helpful? 9
      , bangalore
      Reviewed on Dec 14, 2018
    • YES Bank Fixed Deposit
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a good service which they had been providing so far and i had started this investment a log time back. Their customer support has been helpful in guiding me in the investment plans and explaining with the growth of the investment. The interest rate with them has also been good.
      Was this review helpful? 4
      , bangalore
      Reviewed on Dec 14, 2018
    • Citibank Fixed Deposit
      "Not satisfied with the service"
      0.5 1.0/5 "Really Bad"
      I had started this investment a pretty long time back and they had been providing a good service. Their customer support has not been responsive and i do not suggest any one to make an investment through them. There has not been a good growth with the investment.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 14, 2018
    • SBI Fixed Deposit
      "Good Investment Plan"
      0.5 4.0/5 "Great!"
      I have taken fixed deposit account in STATE BANK OF INDIA . They are not charging any charges for the account . I used to get income tax benefits . Am satisfied with the customer service and response.They are giving good rate of interest . Overall am happy with my account .
      Was this review helpful? 4
      , mumbai
      Reviewed on Dec 12, 2018
    • Post Office Fixed Deposit
      "Good investment plan"
      0.5 5.0/5 "Blown Away!"
      I have started investing in the fixed deposit almost more than 5 years. I have invested a variable amount in different times. They have offered me a interest rate of 7.5%. The response was good. I have chosen the post office because of the safe and security.
      Was this review helpful? 14
      , guwahati
      Reviewed on Dec 12, 2018
    • YES Bank Fixed Deposit
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have the fixed deposit account with the Yes bank and the interest rate they have given me is good, also the customer service is good too they have co-ordinated with me well they time to time update me about there date of pay my next fixed deposit date.On line banking services are fine one too and am really happy with them.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Dec 11, 2018
    • Axis Bank Fixed Deposit
      "Average bank to avail fixed deposit"
      0.5 4.5/5 "Excellent!"
      I have chosen the Axis bank for my fixed deposit. I have deposited around of Rs. 50000. Since they are providing very good services in their branch. They have offered me a interest rate of 6.5%. I put the money in 2015. I have visited their branch many times and the service is very much prompt. I had no issues with them.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 11, 2018
    • ICICI Bank Fixed Deposit
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      My fixed deposit is with ICICI Bank. I had to go to the bank and meet the executive and open the account. I can close the account online. There is a lock in period for 12 to 13 months. The interest I earn is satisfactory. I have a deposit of 70K. Overall good.
      Was this review helpful? 1
      , new delhi
      Reviewed on Dec 07, 2018
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