Digital Fixed Deposit
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Open a Full KYC Fixed Deposit within minutes
Open FD online without any bank savings account
Extended amount and extended tenure
No penalty on pre-mature FD withdrawal up to 25% of the deposit amount on first withdrawal
Digital Fixed Deposit
No Savings Account Required
You don’t need Sky Fundindia Bank’s Savings Account to open Digital. Fund your FD with savings account of any bank in India.
Attractive interest rates
You can get the best interest rates offered in Sky Fundindia Bank based on your tenure. Check the rates here.
Low minimum investment
You can start with an investment amount as low as ₹5,000 and can enjoy a tenure as high as 10 years.
Pre-mature withdrawal benefits
No penalty for pre-mature withdrawal (up to 25%)
You are an Indian
resident with 18+ years of age- You are located in India
while opening the account
- You should have a valid
Pan and Aadhar card
- You are not an existing
Axis Bank customer
By logging into and providing his/her details, customer agrees to the terms and conditions of the Bank. for detailed Terms & Conditions related to Digital Fixed Deposit account
Flexible
Online Loan Calculator
Estimate your loan payments quickly & easily with our calculator.
Loan Questions? Check Our Faq’s Page.
Loan Amount
$500000
Loan Term (Years)
20
Interest Rate
8.5%
Interest Amount
$541,388Interest Amount
$541,388Advantages of Digital Fixed Deposit
The Digital Fixed Deposit offers the same interest rates as a regular FD, but it scores over the regular FD in terms of convenience and ease of operation. Here are some benefits of Digital Fixed Deposits:
- You can open a Digital Fixed Deposit with Sky
Fundindia Bank in less than 7 minutes! (That is lesser time than it takes to get food delivered to
your house!)
- The entire process of opening a Digital Fixed
Deposit is seamless and hassle-free. All you need in terms of documentation are your Aadhaar card
and PAN card
- The best part of opening a Digital Fixed Deposit
with Sky Fundindia bank is that you do not need a Savings Account with us. You can have a Savings
Account with any other bank and still open a Digital Fixed Deposit with us
- Most banks levy a penalty charge for
pre-withdrawal. But not us – we charge no penalty for first withdrawal up to 25% of your deposit
amount
- You can invest as low as ₹5,000 with our Digital
Fixed Deposit
How to open a Digital Fixed Deposit?
It is easy to open Digital Fixed Deposits with us at Sky Fundindia Bank. All you have to do is:
- 1. Head to our website and choose the Digital Fixed Deposit option.
- 2. Then, verify yourself with your Aadhaar and PAN card.
- 3. Next, enter the requested personal information like name, address, email-id, and the like.
- 4. Then, choose the Digital FD fund amount.
- 5. Finish the process with a short Know Your Customer (KYC) video call with our authorised agent.
Once you open your Digital FD, download the Sky Fundindia Bank mobile banking app from Google or Apple Play store and:
- 1. Log in with your customer ID
- 2. Verify your mobile number
- 3. Create an mPIN that will work for future logins
- 4. Enter the OTP we send on your mobile number
- 5. Track your digital FD
Digital Fixed Deposits Interest Rates
The Digital Fixed Deposit interest rates do not vary from the standard . However, Sky Fundindia Bank offers a higher rate of interest, especially for senior citizens. Senior citizens get higher interest rates upto0.75% than non-seniors. The interest rates depend on the tenure of the Fixed Deposit and the type.
Factors that affect Digital Fixed Deposit Interest Rates
Several factors affect Digital Fixed Deposit rates. These include:
-
The Digital Fixed Deposits eligibility criteria. You must have basic documents like your Aadhaar and
PAN card in place. Moreover, your mobile number must be linked to your Aadhaar.
- The tenure of your Fixed Deposit is a crucial
factor that affects Digital Fixed Deposit rates. The standard rule is that the longer the tenure,
the higher interest you accumulate. For instance, a 6-month Digital FD
can have an interest rate of 3%, but a 5-year FD would have an interest rate of 5%-6%.
- The amount you invest in the Digital FD will also
affect the interest rate payable. Again, the standard rule here is that the higher the amount
invested, the better returns you can accrue.
- Your age will also influence the Digital Fixed
Deposit rates. For example, senior citizens (usually above 60 years) always get a higher interest
rate than non-seniors.
Taxation of interest on a Digital Fixed Deposit
You can save tax with forms 15G and 15H of the income tax act if your income is less than ₹2.5 lakh per year. You must also note that interest earned on Digital or tax saver fixed deposit