How to Open a Fixed Deposit Account Online

How to Open a Fixed Deposit Account through Retail Internet Banking and iMobile Pay

Saving money is like planting a tree - you nurture it today and it grows into a strong foundation for a fruitful future. If you want to make the most of your savings and watch them grow steadily, opening a Fixed Deposit (FD) Account is a wise choice. And here's the cherry on top - ICICI Bank offers not one but two user-friendly options to open an FD Account: iMobile Pay and Retail Internet Banking.

So, let's dive into the step-by-step guide to explore how to make the most of these innovative and user-friendly methods to grow your savings.

Why Choose an FD Account?

Before we learn How to Open a Fixed Deposit Account using ICICI Bank's services, let's quickly understand why FDs are such a popular choice among investors in India.

FDs provide several benefits that make them an attractive investment option:

• Safety: FDs are considered as one of the safest investment options available. The capital invested in an FD is secure, with minimal risk of losing your principal amount.

• Stability: Unlike other investment avenues subject to market fluctuations, FDs offer stability. The interest rates for FDs remain constant throughout the tenure, ensuring a predictable return on your investment.

• Assured Returns: FDs allow you to calculate your returns in advance, making financial planning easier. The predetermined interest rates and maturity periods give you a clear picture of the amount you'll receive upon maturity.

• Flexible Tenure: ICICI Bank offers FDs with varying tenures, ranging from a few months to several years. This flexibility allows you to align your investment with your financial goals and liquidity needs.

• Competitive Interest Rates: ICICI Bank offers attractive interest rates on FDs which can go as high as 7.2% (7.75% for senior citizens). These rates are designed to ensure that your money grows steadily.

Now that you understand the benefits of opening an FD Account, let's explore the step-by-step process through ICICI Bank's iMobile Pay app and Retail Internet Banking.

Opening an FD Account with iMobile Pay

iMobile Pay is ICICI Bank's innovative mobile app to simplify your banking experience. Opening an FD Account through iMobile Pay is quick and effortless. Here's how you can do it:

Step 1: Download and instal iMobile Pay 

Begin by downloading the iMobile Pay app on your smartphone. You can find it on the Google Play Store for Android devices or the Apple App Store for iOS devices. Instal the app and proceed to the next step.

Step 2: Log in or Register 

If you're an existing ICICI Bank customer, log in to the app using mobile number authentication (registered with the Bank) and then providing your credentials. If you're new to ICICI Bank, complete the registration process by providing the necessary details.

Step 3: Access the FD Section 

Once logged in, navigate to the FD section within the app. Look for the 'Accounts and Deposits’ under the ‘Transact’ tab or ‘Insta FD’ under the ‘Invest & Insure’ tab and then click on 'Open FD'.

Step 4: Provide Necessary Details 

Fill in the required details, such as the deposit amount, tenure and nominee information. Take your time to ensure the accuracy of the entered information.

Step 5: Confirm and Deposit 

Review your application, verify the Terms and Conditions and proceed to confirm. Once confirmed, your FD account will be opened and you'll receive a confirmation message

Opening an FD Account with Retail Internet Banking

If you prefer to manage your finances through a web-based platform, ICICI Bank's Retail Internet Banking is ideal. Here's how to open an FD account using this method:

Step 1: Access the ICICI Bank Website 

To begin, visit the official ICICI Bank website and log in to your Retail Internet Banking account using your credentials.

Step 2: Navigate to the FD Section 

Once logged in, locate 'Bank Accounts' section > 'Create FD' > ‘Open a Fixed Deposit’ or 'Invest & Insurance' section > 'Online Investments' > 'Open a Fixed Deposit' on the website.

Step 3: Fill in the Required Details 

Enter the necessary information, including the deposit amount, tenure and nominee details. Double-check the accuracy of the information entered.

Step 4: Choose FD Type ;

Select the type of Fixed Deposit Account you want - regular FD, Tax-saving FD or any other special scheme available.

Step 5: Confirm and Deposit 

Review all the details you've provided, accept the Terms and Conditions and proceed to confirm your deposit. Upon confirmation, your FD Account will be opened and you'll receive a confirmation message.

Wrapping Up 

Thanks to ICICI Bank's convenient and user-friendly services, opening an FD Account has never been easier. ICICI Bank provides two seamless options to grow your savings - iMobile Pay and Retail Internet Banking. Choose the tenure and deposit amount wisely to maximise the competitive interest rates. So, start your financial journey towards a secure future by opening an FD account today!