Sunday, August 09, 2009

online fixed deposit

Long ago, i remember standing in front of the bank manager to get a Fixed deposit (FD) made. Now with Internet banking you could do this online. But it seems different banks follow different processes:

ICICI Bank
You can start online and the FD receipt is mailed to you. Though u have option to terminate and deposit back the money to savings account, it always renew it.

SBI Bank
You can start it as explained here. But after this you have to go to the corresponding branch to collect the FD receipt. Still it is better as now you can go any day and collect it in few minutes as every other process is done. It is also automatically renewed.