I’ve been thinking about opening a fixed deposit online instead of visiting the branch. How do I open an FD using the HDFC Mobile Banking app?
I wanted to check this out myself when I was looking to open a Fixed Deposit (FD) online. I found the process through the HDFC Mobile Banking app to be convenient.
How to Open an FD Online Using the HDFC Mobile Banking App
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Download the App: Make sure you have the HDFC Mobile Banking app on your phone.
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Log In: Open the app and log in with your HDFC Bank details.
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Find the FD Option: Tap on the “Menu” button at the top left corner. Then, go to “Save” and pick “Deposits.” Finally, click on “Open Fixed Deposit.”
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Fill in Details: On the FD page, put in how much money you want to deposit, how long you want to keep it there, how often you want interest paid out, and what should happen when it matures.
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Review and Confirm: Click on “Continue” and double-check everything. If it looks good, accept the terms and conditions, then click “Confirm.”
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Verify with OTP: You’ll get an OTP on your phone. Enter it to finish setting up your FD.
HDFC Bank Fixed Deposits
| Feature | Details |
|---|---|
| Minimum Amount | ₹5,000 |
| Time Period | 7 days to 10 years |
| Interest Rate | Depends on tenure and senior citizen status |
| Interest Payout | Monthly, quarterly, half-yearly, or on maturity |
| Early Withdrawal | Allowed but with a penalty |
| Taxes | TDS applies if interest earned is above ₹5,000 |