Fixed Deposit for Higher Education

Every parent would like to send their children to the best university for higher education in India or abroad. In either case, higher education can get expensive and requires careful financial planning much in advance. Your fixed deposit can easily take care of expenses like tuition, travel, additional coursework, living expenditures, or housing.

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VISAS AND TRAVEL

A significant portion of the costs of attending college is application fees, even more so if you account for the price of the travel expenses, visa fees, and other paperwork required for an international course.

CLASS FEES

Class fee accounts for a significant portion of the higher education. This expense along with any unanticipated cost can be easily taken care of with a fixed deposit.

HOUSING COSTS

Your living expenses go well beyond rent. The costs of groceries, transportation, cellphone, internet, and other products are included in your total outlays. These could cost you a significant sum of money.

SUBJECT MATTER

You could require books, equipment, specialised software, and other materials throughout your course. These costs frequently arise out of the blue and may be incurred whenever needed.

INSURANCE FUND

It is critical to budget for unanticipated circumstances like accidents or illnesses. Insurance cannot always cover all costs, even though it may be helpful in some cases.

How to Invest in a fixed deposit

A step-by-step guide to invest in a fixed deposit

1. Click on ‘Open FD’ at the top of this page to open our online application form.
2. Enter your 10-digit mobile number and verify the OTP sent to your phone.
3. Fill in the investment amount and choose the investment tenure and payout frequency.
4. Enter your PAN card and date of birth.
5. Complete your KYC: If you are an existing number, confirm the details available with us, or edit to make any changes.
For new customers, complete your KYC using Aadhaar. You can also upload documents through DigiLocker or manually.
6. Enter additional details like occupation, annual income, and marital status.
7. A declaration will be displayed. Please read it carefully and agree to the terms and conditions. Enter your bank details and proceed to pay.
8. Complete your investment using NetBanking/ UPI or Debit Card

Once your fixed deposit is booked, you will receive the Fixed Deposit Acknowledgement (FDA) on your registered email address and as a link on your mobile number. An Electronic Fixed Deposit Receipt (e-FDR) will also be sent to your email ID within 3 working days (subject to documents being in the correct order).

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