022 6899 7777
040 6815 7777

The Online Fixed Deposit: Convenient and Quick!

10 Apr 2024

You will find many financial product options that offer decent returns on savings. However, an online fixed deposit is one of the most reliable options in today's times. Over the years, Fixed Deposits have been the accepted financial savings product with Indian families. Individuals consider Fixed Deposits or FD as a trusted source for financial growth. It has to do with the predictability, transparency, and stable returns features of the bank FD. The high Fixed Deposit interest rate that DCB Bank offers, makes it an ideal choice to save and grow your precious money. Moreover, the Bank allows you to open Fixed Deposit online.

Read on to understand how FDs work and why it is convenient to open an online FD.

How does a fixed deposit work?

Saving some of your income is necessary to accumulate funds for emergencies and plan for a brighter financial future. If you want an opportunity for financial growth with assured returns, an online FD can multiply your funds steadily over time.

A Fixed Deposit is a smart option that helps save a substantial amount and earns guaranteed returns at maturity. You can put money in an FD with DCB Bank for a fixed tenure ranging from seven days to ten years with high fixed deposit interest rates and withdraw the FD amount with interest upon maturity of the FD. The Bank also offers auto-renewal facility to ensure that your money does not remain idle even for a day. You can also withdraw your FD pre-maturely in the event of an emergency.

Reasons to open the DCB Zippi Online Fixed Deposit:

You can enjoy the multi-faceted benefits of a fixed deposit by opening it online. Some major reasons to open the DCB Zippi Online Fixed Deposit include the following:

  • Online Advantage: Technologically advanced financial institutions like DCB Bank let you open a fixed deposit online without visiting the bank branch even once. You can easily apply for the DCB Zippi Online Fixed Deposit through the Bank’s website or DCB Mobile Banking app and pay using your internet banking account. For any queries, simply submit your contact mobile number on the DCB Zippi Online Fixed Deposit webpage, and the Bank’s customer service representative will contact you.
  • Steady Financial Growth: Compared to the volatile market options, Fixed Deposits are steady and stable. The money saved and deposited with DCB Zippi Online Fixed Deposit, one can be sure that the corpus will steadily grow thanks to the high fixed deposit interest rate applicable on the deposited amount, and to this, the added benefit of quarterly compounding results in superior growth. Senior citizens, by opening a fixed deposit, receive additional 0.75% p.a. from DCB Zippi Online Fixed Deposit interest rate over that of regular customers. Therefore, it is a great way to put your surplus funds to work and earn money via the benefits of fixed deposit.
  • Flexibility: DCB Zippi Online Fixed Deposit is really flexible and suits your requirements and preferences. Open the FD with an amount as low as Rupees 10,000. Moreover, select the FD maturity period from seven days to ten years, according to your financial need. When you need urgent funds before the FD maturity, simply withdraw it pre-mature and earn the applicable interest rate prevailing at the time of breaking the deposit. Furthermore, you may choose an interest payout that is monthly, quarterly, half-yearly, or yearly, based on your desired income earning frequency.
  • Loan Facility: If you need urgent funds but don’t want to withdraw the deposit, you can obtain a loan or Overdraft (OD) against the FD with Loan amount To FD Value (LTV) ratio up to 80%. The Overdraft facility, enables you to raise a loan against the said FD and there is no need to withdraw the FD pre-maturely and sacrifice the interest earnings. Such loans have affordable interest rates, ensuring you do not face difficulty repaying the borrowed loan amount. However, the loan facility is not available for tax-saving Fixed Deposits.
  • Tax Advantage: Some fixed deposits provide tax benefits. When you open a Tax-Saver Fixed Deposit, you must hold the FD for at least five years. During this period, you cannot withdraw the funds before maturity. Furthermore, you cannot obtain a loan against tax-saving FDs. However, they offer tax exemptions that range up to Rupees 1.5 Lakh under Section 80C of the Income Tax Act, 1961. It is recommended that the tax exemption details are confirmed by a tax consultant or your Chartered Accountant or qualified professional.

Types of Fixed Deposits You Can Open with DCB Bank:

You can open different types of FDs through DCB Zippi Online Fixed Deposit:

  • Regular DCB Fixed Deposit: Deposit a minimum amount of Rupees 10,000 for thirty days to five years and earn quarterly compounding interest.
  • DCB Suraksha Fixed Deposit: In addition to attractive fixed deposit interest rates, this Suraksha FD also provides free life insurance benefit up to the FD value for the family without any medical tests. The maximum insurance amount is Rupees 10 lakh or equal to the FD amount, whichever is lower.
  • DCB Health Plus Fixed Deposit: Another attractive FD, it provides free emergency services and medical benefits which are offered under a Group Insurance Plan.

Things to Consider When Opening an Online Fixed Deposit

Here are a few things to consider when opening an online fixed deposit:

  • Choose a longer tenure: A longer FD tenure delivers higher returns at maturity due to more instances of quarterly compounding interests.
  • Open at a reputable bank: Check the bank’s reputation before choosing a bank for opening an online FD.
  • Explore additional benefits: Loan facilities, tax benefits, overdraft facilities, life insurance, medical cover, etc., are some sought-after features you must look for in an FD scheme.
  • Premature Withdrawal: Tax-saver FDs have a lock-in period of five years. However, other FDs must offer the facility of premature withdrawal to tackle financial emergencies.

So, what are you waiting for? Check out the wide variety of fixed deposit offerings at DCB Bank and choose a product that best suits your needs. Open the DCB Zippi Online Fixed Deposit in minutes without any branch visits or paperwork and get convenience at your fingertips!

Open your Online Fixed Deposit Today!


Information on the website is for informational purposes only and does not constitute financial advice. Readers are advised to consult financial professionals for personalized advice before making decisions. The information on this blog is subject to change without notice and may become obsolete. DCB Bank reserves the right to modify, update, or remove content at any time. Savings Account and Fixed Deposit Interest rates are subject to change without prior notice. DCB Bank shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decision based on the contents and information mentioned in this blog. By accessing and using this blog, users agree to adhere to these terms and conditions. To read the complete disclaimer of DCB Bank, please visit: https://www.dcbbank.com/disclaimer

facebook Instagram linkedin twitter