New Delhi: The State Bank of India (SBI) allows its savings account holders to open a fixed deposit (FD) online through simple SBI net banking or SBI YONO app. If you already have a savings account with SBI, you can easily open a fixed deposit (FD) online from the comfort of your home.
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Once you’ve opened an FD online, you can conveniently renew or close it instantly without having to visit the bank. This online FD service by SBI is user-friendly, allowing you to make payments for the term deposit directly through net banking. It’s a hassle-free way to manage your fixed deposits without the need to physically go to the bank.
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Here Is How To Open An SBI Fixed Deposit (FD) Account Online:
Step 1: Start by visiting the SBI net banking website and logging in with your account details.
Step 2: Once logged in, click on the “e-TDR/e-STDR (FD)” option under fixed deposit and then click on “Proceed” (TDR refers to term deposit, and STDR stands for Special Term Deposit).
Step 3: Choose the type of fixed deposit you want and click on “Proceed.”
Step 4: If you have multiple bank accounts, select the account from which you want to deduct the money.
Step 5: Enter the fixed deposit principal amount in the ‘Amount’ column.
Step 6: Now, select the deposit tenure, whether in days, years/months/days or until the maturity date.
Step 7: Choose the maturity instruction for your fixed deposit account. Options include auto-renew principal and interest, auto-renew principal and repay interest or repay principal and interest.
Step 8: Click on “Terms and Conditions” and then submit to complete the process.
Note: Once you complete the process, your fixed deposit details, including your name, nominee, and other relevant information, will be displayed on the screen. Make sure to note down the transaction number for future reference. Additionally, consider taking a printout or saving the details as a PDF file for your records. On the subsequent page, you will find the specifics of your SBI tax-saving fixed deposit (FD).
