FD Without a Savings Account: Step-by-Step Guide

Fixed deposits (FDs) are one of the safest and most reliable ways to grow your savings, offering guaranteed returns and flexibility in tenure. But did you know that you can open an FD even if you do not have a savings account? 

Whether you are new to investing or looking for a secure option to park your funds, Bajaj Finance Fixed Deposits provide a seamless process to start your FD journey without requiring a savings account. Check rates!
 

Opening an FD without a savings account simply means that you do not need to maintain a bank account to invest in a fixed deposit. Traditionally, FDs are linked to savings accounts for convenience, but many financial institutions, including Bajaj Finance, allow you to open an FD directly. This process is especially beneficial for individuals who do not have a savings account or prefer to manage their finances differently.

Key features of FD without a savings account:

• Eligibility: Anyone with valid KYC documents can open an FD without a savings account.
• Convenience: You can invest directly via online or offline channels without linking a bank account.
• Flexibility: Bajaj Finance Fixed Deposits offer flexible tenure options ranging from 12 months to 60 months.
• Product Uniqueness: Earn assured returns without the need for a linked account, making the process simple and accessible.

Opening an FD without a savings account is straightforward and can be done through both online and offline methods. Here is a step-by-step guide:

Online FD booking process

1. Visit the Bajaj Finance FD website: Go to the official Bajaj Finance Fixed Deposit page.
2. Open the application form: Click on the ‘Open FD’ button to access the form. 
3. Enter your mobile number: Provide your mobile number and verify it using the OTP sent to your phone.
4. Fill in investment details: Specify the deposit amount, tenure, and payout preferences (monthly, quarterly, or on maturity).
5. Complete KYC: Upload your KYC documents, including PAN card and Aadhaar card, passport, or voter ID.
6. Make payment: Transfer the deposit amount through NEFT, RTGS, or UPI.
7. Receive FD receipt: Once your payment is processed, you will receive your FD receipt within three working days.

Offline FD Booking Process

1. Visit the nearest Bajaj Finance branch: Locate a branch near you and visit during working hours.
2. Submit the application form: Fill out the FD application form and provide valid KYC documents.
3. Deposit the amount: Pay the deposit amount via cheque or NEFT.

With Bajaj Finance Fixed Deposits, the process is simple, ensuring that you can start earning assured returns without the need for a savings account.

While it is possible to open an FD without a savings account, there are scenarios where having one can simplify certain aspects of fixed deposit management.

Seamless online booking

A savings account allows real-time payments and auto-verification during the FD booking process, making it quicker and more convenient.

Auto-credit of interest and maturity proceeds

With a savings account, periodic interest payouts and maturity proceeds can be credited directly, eliminating the need for manual intervention.

Easy renewal and withdrawal

Linked savings accounts enable automated FD renewals and faster transfer of withdrawal proceeds, ensuring a hassle-free experience.

Benefits of opening an FD without a savings account (with Bajaj Finance)

Investing in an FD without a savings account comes with several advantages, particularly for individuals who prefer a direct and simplified process.

Accessibility

You do not need to open or maintain a savings account, making FDs accessible to everyone, including those who do not actively use banking services.

Guaranteed returns

Bajaj Finance Fixed Deposits offer fixed interest rates, ensuring that your returns are predictable and unaffected by market fluctuations.

Flexible tenure options

Choose a tenure that suits your financial goals, ranging from 12 months to 60 months.

Secure investment

FDs are a low-risk investment option, ideal for individuals seeking capital preservation and steady growth. 

So what are you waiting for?
Check out the latest rates offered by Bajaj Finance and book your FD now!

Opening an FD without a savings account is an excellent option for those looking for a secure and straightforward investment avenue. Bajaj Finance Fixed Deposits provide unmatched flexibility, guaranteed returns, and a seamless process, ensuring that you can start investing effortlessly. While having a savings account adds convenience in certain scenarios, it is not a requirement for opening an FD.

Take the first step towards financial growth with Bajaj Finance Fixed Deposits. Enjoy assured returns, flexible tenures, and a secure investment experience tailored to your needs. Open FD.