Fixed Deposit Account Management Premature Withdrawal, Claims
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In summary
A fixed deposit (FD) app allows individuals to open, monitor and manage fixed deposits through a smartphone. It provides access to deposit booking, interest rate details, tenure selection, maturity information and other account-related services without requiring a branch visit.
The Bajaj Finance App enables eligible customers to book fixed deposits digitally by entering their investment details, completing the required Know Your Customer (KYC) verification and making the payment through an available payment method. Before booking an FD, it is useful to compare the applicable interest rates, deposit tenure, payout options and premature withdrawal conditions.
Key takeaways:
- Online FD booking: Open a fixed deposit through a mobile application.
- Flexible tenure: Select an available deposit period based on financial requirements.
- Digital KYC: Complete identity verification using the required details and documents.
- Investment tracking: Check deposit details, interest rates and maturity information.
- Return estimation: Use an FD calculator to estimate maturity proceeds or interest payouts.
- Tax considerations: FD interest may be taxable, and tax deducted at source (TDS) may apply as per the applicable rules.
What is a fixed deposit app?
Avoid these mistakes while booking FD
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A fixed deposit app is a mobile application that enables users to open and manage fixed deposits online. It allows depositors to view available interest rates, choose an investment tenure, select an interest payout frequency and access deposit-related information from their smartphones.
Depending on the financial institution and its app features, users may also be able to complete KYC verification, download deposit documents, track maturity dates and initiate renewal requests digitally.
The Bajaj Finance App provides an online facility to book fixed deposits and access related financial services. The availability of specific features may depend on the user's account and the applicable terms.
How to download the Bajaj Finance App?
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The app can be downloaded from the official app store supported by the user's smartphone.
How to download the app on an Android phone?
- Open the Google Play Store.
- Search for the official Bajaj Finance App.
- Check the publisher details to confirm that the app is genuine.
- Tap Install and wait for the download to finish.
- Open the app, accept the applicable terms and follow the on-screen instructions to get started.
How to download the app on an iPhone?
- Open the Apple App Store.
- Search for the official Bajaj Finance App.
- Verify the app's publisher details.
- Tap the download icon to install the app.
- Open the app, select the preferred language if prompted and follow the login instructions.
Users may need their registered mobile number and a one-time password (OTP) to sign in or verify their identity.
How to open a fixed deposit through the Bajaj Finance App?
A fixed deposit can be booked online by completing the following steps:
Step 1: Open the app
Launch the Bajaj Finance App and sign in using the required verification details.
Step 2: Select fixed deposits
Navigate to the investments section, select Fixed Deposit and choose the option to open a new deposit.
Step 3: Enter investment details
Provide the deposit amount, preferred tenure and interest payout frequency. Enter your PAN details and date of birth where requested.
Step 4: Complete KYC verification
Review your existing KYC details if you are an existing customer. New customers may need to complete the prescribed digital verification process and provide the required identity information.
Step 5: Review and make payment
Check the deposit amount, interest rate, tenure, payout instructions and applicable terms. Enter the required bank details and pay using an available method, such as UPI, net banking or NEFT/RTGS.
Step 6: Check the booking confirmation
Follow the on-screen instructions and check for confirmation once the payment and document verification are complete. Retain the fixed deposit receipt and other relevant records.
What are the features of the Bajaj Finance FD app?
The app offers digital facilities that help users book fixed deposits and access investment-related information. Key features include the following.
1. Online FD booking
Users can complete the deposit booking process digitally by entering the required details, selecting a tenure and making the payment through an available payment method.
2. Digital KYC verification
The app supports digital customer verification, subject to the applicable requirements. Users may need to provide PAN details and valid identity documents to complete the process.
3. Deposit tracking
Users can access relevant information about their fixed deposits, including investment details, interest rates and maturity information, through the available account services.
4. FD calculator
An FD calculator helps estimate the interest earned and the maturity amount based on the deposit amount, tenure, interest rate and payout option selected.
5. Interest payout options
Eligible depositors can choose an available interest payout frequency, such as monthly, quarterly, half-yearly, yearly or at maturity. The options and applicable rates may vary by tenure and deposit scheme.
6. Online account services
Depending on the service available for the account, users may be able to access deposit receipts, interest certificates and statements or initiate eligible renewal-related requests online.
Check out different FD Rates
What are the benefits of using an FD app?
Using an FD app can simplify the process of opening and monitoring a fixed deposit. Its key benefits include:
- Convenience: Complete eligible deposit-related activities from a smartphone without visiting a branch.
- Time savings: Submit information and complete the booking process digitally.
- Access to information: Review available interest rates, tenure options and deposit details before making a decision.
- Better investment planning: Estimate potential returns using an FD calculator.
- Easy record management: Access available deposit documents and account information online.
- Flexible interest payouts: Choose from the payout options available for the selected deposit.
- Access to senior citizen rates: Eligible senior citizens may qualify for additional interest, subject to the applicable deposit terms.
What documents are required to open an FD through the app?
The documents and information required may depend on the applicant's customer status and the KYC verification method.
| Document or detail | Purpose |
|---|---|
| PAN card or Form 60, where permitted | Tax identification and applicable financial verification requirements |
| Aadhaar or another accepted officially valid document | Identity and address verification, as applicable |
| Registered mobile number | OTP-based verification and account communication |
| Bank account details | Processing the deposit payment and applicable payouts |
| Date of birth and personal details | Customer verification and eligibility assessment |
Applicants should provide the documents requested during the application process. Additional information may be required depending on the type of applicant and the verification process.
Fixed Deposit variants
Get ROI up to
8.15% p.a.
Senior citizen
Starting with just Rs. 15,000
Get ROI up to
7.75% p.a.
Age below 60 years
Starting with just Rs. 15,000
Get ROI up to
7.75% p.a.
Minor
Starting with just Rs. 15,000
Get ROI up to
7.75% p.a.
HUF
Starting with just Rs. 15,000
Get ROI up to
7.75% p.a.
Sole proprietor
Starting with just Rs. 15,000
How can users calculate returns using an FD calculator?
An FD calculator estimates the interest income and maturity proceeds for a proposed deposit. It helps users compare different investment amounts, tenures and interest payout options before booking an FD.
To use an FD calculator:
- Enter the amount intended for investment.
- Select the available deposit tenure.
- Enter or select the applicable interest rate.
- Choose the interest payout option.
- Review the estimated interest and maturity amount.
The actual proceeds may differ from the estimate depending on the selected scheme, compounding method, payout frequency and applicable terms.
Locate to your nearest FD branch
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Frequently Asked Questions
Overview
Are FD apps safe?
FD apps can be safe when downloaded from official app stores and provided by recognised financial institutions. Never share your OTP, password, or banking information.
Are there any fees associated with using an FD app?
The Bajaj Finance App is free to download, although internet charges may apply. Bajaj Finance Limited does not charge processing fees for Fixed Deposit bookings.
Are FD apps free to download?
FD apps offered by banks and financial institutions are generally free to download. You won’t incur any charges for installing or using these apps, although data charges from your internet provider may apply.
How do I download an FD app in India?
Search for the official application on the Apple App Store or Google Play Store. Verify the developer before selecting ‘Download’ or ‘Install’.
Can I open a Fixed Deposit through the FD app?
Yes, you can open a Bajaj Finance Fixed Deposit online through the app. Choose your amount and tenure, complete KYC, and make payment.
What do I need for the FD app installation?
You need a compatible smartphone, an active internet connection, and access to the Google Play Store or Apple App Store. After installation, use your registered mobile number and the OTP received to log in to the Bajaj Finance app.
Disclaimer
1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (BAJAJ FINANCE) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.
2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.