FD & RD Made Easy: Open Yours in India Today

How to Open FD or RD (Online & Offline) – Complete Guide

Fixed Deposits (FD) and Recurring Deposits (RD) are some of the safest investment options in India. They are perfect for beginners and anyone who wants to earn guaranteed returns. Here’s how you can open an FD or RD account both online and offline.

 How to Open FD or RD Online

Log in to your bank’s internet banking or mobile app.

Choose the option “Open FD/RD”.

Enter the amount, tenure (duration), and select the interest payout option.

For RD, enable auto-debit to ensure monthly payments.

Confirm and complete the transaction. You’ll receive an e-receipt instantly.

How to Open FD or RD Offline

Visit your bank branch or nearest post office.

Fill out the FD/RD application form.

Submit your KYC documents and passport-size photograph.

Deposit money via cash, cheque, or debit from your account.

Collect the receipt (for FD) or passbook (for RD).

Required Documents for FD/RD

Aadhaar Card

PAN Card

Passport-size Photo

Address Proof (if required)

Existing bank account details

Best Banks & Post Office Plans

Top Banks: SBI, HDFC, ICICI, Axis, and Kotak offer flexible FD/RD schemes ranging from 6 months to 10 years. Senior citizens usually get an additional 0.25%–0.75% interest.

Post Office: The Post Office RD has a fixed tenure of 5 years with interest rates up to 7.4%. Post Office Time Deposit (TD) works similarly to an FD.

How to Use RD/FD Calculators

Visit your bank’s official website or mobile app.

Open the RD/FD calculator section.

Enter the deposit amount, interest rate, and tenure.

The calculator will display the maturity amount and total interest earned.

Compare different banks’ rates to choose the best plan.

 Important Note

Before opening an FD or RD, always check:

The penalty for premature withdrawal

Current interest rates (these can change quarterly)

Your financial goals to ensure the deposit period suits your needs.

✨ Start your FD or RD today to build a secure financial future!