How to Open a Fixed Deposit Account Online

How to Open a Fixed Deposit Account Online

09 April 2024 | By INDIE

In the world of savings and investments, one of the most reliable options is your humble fixed deposit. Whether you are a newbie to investments or a seasoned investor, a fixed deposit offers a secure way of putting idle funds to work. Opening a fixed deposit is no longer a time-consuming and lengthy process. With technology taking over every aspect of human life as well as businesses, you can open fixed deposits online in the comfort of your home. Banks and financial institutions have introduced mobile apps where all you need is your phone number to get started!


INDIE Fixed Deposit

INDIE is an all-in-one revolutionary banking app that offers you a wide range of financial services to meet all your financial needs. One of the popular financial products is the INDIE Fixed Deposit which is offered at incredible interest rates. 



Completely digital

INDIE offers you a “You-first” digital saving experience. You can download the mobile app and open FD in a matter of minutes.

High-interest rate

You can earn up to 7.75% p.a. on your INDIE fixed deposit, which is amongst the highest offered in the industry.

Auto sweep FD

You can opt for an auto sweep FD wherein your savings account balance above ₹20,000 can be converted into a fixed deposit (in multiples of ₹10,000).

Customize your savings

To open a fixed deposit with INDIE, all you need is a minimum deposit of ₹1000 and benefit from flexible payout options.

Pay directly from the FD

You have the option to link your fixed deposit to your savings account. This enables you to make payments directly from the fixed deposit when your savings account is low on funds.


Step-By-Step Guide to Open Fixed Deposit Online

Fixed deposits can be easily opened via mobile application. INDIE offers a completely digital process to open FD online. All you need to do is follow the steps mentioned below to get started with your investment journey.

Step 1: Download and install the INDIE app either on Google Play or the App Store. You can also scan the QR code on the website to get the app.

Step 2: Click ‘Start Now’ and agree to the terms. 

Step 3: Enter your 10-digit phone number. You can also share the referral code (if any) of any family member or friend in this step.

Step 4: Enter the OTP that is sent to your mobile number.

Step 5: Enter the MPIN of your choice to protect your account from any unauthorized access. You can also enable biometric authorization in this step.

Step 6: Click on Fixed Deposits and get started with the process of opening a fixed deposit online.

Step 7: Enter your PAN number.

Step 8: Enter your Aadhaar number and verify with OTP.

Step 9: Verify your address and you can add a new address (if any) in this step.

Step 10: Fill in the personal details and email ID.

Step 11: Select details related to your occupation and annual income. You can choose to add a nominee in this step or do it at a later stage.

Step 12: Your savings account is created, and you get access to your account details.

Step 13: Complete your video KYC to open FD with INDIE.

Note: You can fund your account once the account has been opened. However, to open a fixed deposit, you must complete your video KYC.

Also Read: Tax Implications on Fixed Deposit Interest: A Comprehensive Guide


Benefits of Investing in Fixed Deposits

Fixed deposits are a popular investment option if you are on the lookout for an investment that is safe and offers steady returns. Some of the advantages of FDs are:

1. Guaranteed Return

The interest rate is fixed when you open FD, thereby offering safety and stability.


2. Flexible Investment Tenure

Flexible tenures are available, and you can choose the one that matches your goals and liquidity requirements.


3. Convenient Process

Online banking services have made it easy to open FDs. You can open fixed deposits online through the online banking platform or through the bank's mobile application.


4. Diversification

FDs help in portfolio diversification and help balance your investment’s risk-return profile.


5. Compound Interest

Some banks offer the option of compounding interest on their FDs. You can benefit from the power of compounding.


6. Liquidity

Many banks allow you to withdraw FD before maturity, though you might have to lose out on interest or pay a penalty. This helps you get access to funds in case of emergencies.



Opening a fixed deposit online is a very efficient and convenient way to start your journey of investment and grow your savings. By following the step-by-step process of opening FD online, you can confidently open your FD account with a few clicks! Whether you wish to save for a particular goal or are looking for a stable return on your investments.

Embrace the power of online banking and open a fixed deposit with INDIE to build a secure financial future.


Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.