Process To Make FD(Fixed Deposit) in SBI
In the computer world every thing is possible online. So for the customer help and satisfaction every bank have internet banking. By the use of the internet banking a customer make and break fixed deposit(FD) online at any time. State bank of India has also made banking easier and now you can transfer money or create FD while sitting at your home. It is very simple to create an FD in state bank of India and also you would be saved from long wait in the bank. We have provided steps on how to make Fixed deposit in SBI Online.
Step 1: Go to link and you will see this screen. Basically you need to go to personal banking login
Step 2: After clicking on Personal banking login you will see below screen which tells about some of the safety measure that everyone should take while using online banking
Step 3: Click on continue to Login and you will see the login page
Step 4: Than enter your Internet banking username and password and click on login button
Step 5: After open the account click the e- fixed deposit tab which is present on top of the screen and you will get the following screen
Select the e-TDR / e-STDR (Fixed Deposit) option, basically e-TDR is electronic Term deposit and is same as Fixed deposits. click on proceed button which will open the below page
than fill the amount which you want to make FD and if you are senior citizen so select the option otherwise left it and you will see two option
- STDR(Cumulative – Interest paid at maturity)
In STDR you will get the interest at the time of maturity of the FD so select this option.
- TDR(Non-Cumulative – Interest paid at selected intervals)
In TDR you will get the interest at selected interval of time. This option will pay you the interest periodically and is good for the one who require money in certain intervals
After that select the check box of the term and condition and than click on submit button. when you click the submit button it ask once again for confirmation with all filled entry so check all entry and if all entry are correct so click on confirm button. If you have lost your password then you can get it online and to know step by step process read our article on how to reset password online
Benefits of Making Online SBI FDs
This is my personal experience. I had made some traditional hard copied SBI Fds, I had made then when I was posted in Mumbai. My job made me to shift to Gurgaon. One day I need to encash those SBI Mumbai Fds to my nearest Gurgaon SBI Branch. To my shock the bank employee said that I will have to submit these FDs and they will courier it to Mumbai SBI branch in which I had originally made these Fds and then they would encash it and deposit the money in my account. Since I needed money urgently so this process was not viable for me.
If I had made these FDs online anywhere in the word. I would have broke then in a few clicks. Thus making Online SBI Fds reduces your time to make and brake FDs.