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Updated 29 Aug 2023
Knowing robust investment options is essential for navigating the financial landscape, and fixed deposits (FDs) have repeatedly been shown to be a shelter for investors. With its long history and dedication to providing excellent customer service, Federal Bank should be on your radar if you wish to diversify your investment portfolio with a reliable organisation.
This blog provides a detailed walkthrough for opening an FD account with Federal Bank, ensuring a simple and hassle-free process. Understanding the complexities of Federal Bank's FD procedure will give you an additional financial tool for your future pursuits, whether you are an experienced investor or a novice. Jump in!
A Federal Bank FD account can be opened through mobile apps, Internet Banking, and offline.
1) Internet Banking
Follow the below-mentioned steps for opening a Federal Bank FD account via Internet banking-
2) Through Mobile App - Federal Bank App
Follow the steps mentioned ahead to open an FD account via Federal Bank App-
3) Opening Federal Bank FD Offline
To open a Federal Bank FD account offline, one must visit the nearest Federal Bank branch. Fill out the Federal Bank FD application form and present all the necessary documents with the deposit amount. On successful processing of the application, an FD receipt will be provided by the Federal bank.
The following individuals and entities are eligible to apply for a regular Fixed Deposit online:
Identity Proof
Address Proof
Can you withdraw FD before its maturity?
Yes. If you need funds urgently, you can avail of premature withdrawal of your Fixed Deposit.
Will I be notified that my deposit has matured?
Yes, you will be notified when your deposit is about to mature and again on the date it matures through SMS and E-mail.
Is the ₹ 5 lakh DICGC insurance cover applicable separately for every bank?
The deposit insurance scheme of RBI covers all Federal Bank deposits of up to ₹ 5,00,000 at the customer level. If an individual's deposit exceeds ₹ 5 lakhs in a single bank, only ₹ 5 lakhs, including the principal and interest, will be paid by DICGC if the bank becomes bankrupt.
Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.
