Digital Fixed Deposits

A Fixed deposit is an investment option offered by the banks where an investor can deposit a lump sum of money for a fixed period of time and earn a guaranteed return as interest. The fixed deposit tenure can range from a few days to several years and the interest are typically higher that Savings Account

Fixed deposits are considered to be a safe investment option as they are backed by the deposit insurance guarantee scheme of the Reserve Bank of India, which provides insurance coverage of up to INR 5 lakhs per depositor per bank.

A digital fixed deposit is a type of fixed deposit that can be opened online through a digital platform provided by the bank. It is a paperless alternative to traditional fixed deposits, which require physical documents and in-person visits to the bank.

Digital FDs are great for anyone who wants a safe and secure avenue of investment that they access from anywhere through any device - their laptop or their mobile!

They are non-market-linked instruments and are ideal for risk-averse investors who want to build a corpus for their future, beat inflation, and keep their money safe from market fluctuations.

Fixed Deposits are one of the safest and most reliable investment options. Digital FDs are non-market-linked instruments, which means the returns they provide do not depend on any capital market involvement. Since the interest rates on Digital FD is pre-fixed, there is no element of surprise or risk.

You can open a Digital FD as long as

• You are a resident Indian of 18 years of age or above.
• You have a valid Aadhaar and PAN Number
• You have a working mobile number linked to Aadhaar

Ujjivan Bank offers additional benefits to Senior Citizens, i.e. those who are 60 years of age or older. If you are a Senior Citizen you can earn an additional interest rate with our Digital Fixed Deposits!

No, you can open a digital FD without having a Ujjivan Bank savings account. You may use your existing savings bank account from any other bank to fund your Digital FD.

The minimum amount needed to open a digital fixed deposit with Ujjivan Bank is ₹1,000.

The maturity range for Digital Fixed Deposits is very flexible. Investors can choose from maturity periods as less as 6 months and as high as 10 years.

The interest rates depend on the tenure of the Digital Fixed Deposit.
Go to our Latest Interest Rates section to check out the interest rates that are applicable for various tenures.

With our Digital Fixed Deposits, you can choose from the following interest payout options -

• Monthly
• Quarterly
• At Maturity (Quarterly Compounded)

Yes, premature withdrawal is allowed in Digital FDs through our branches with penalty as applicable. For more details on premature withdrawal you can connect with us on Toll Free Number - 1800 208 2121

The workings of a Digital FD are simple. When your Digital FD matures, the principal deposit amount and the interest accumulated (if any) will be credited to your chosen savings account.

Opening a Digital Fixed Deposit is very easy! Follow the below steps:

• Click on "Invest now"
• Register using your mobile number
• Verify using PAN and Aadhaar
• Enter your Personal Details
• Enter Deposit details and complete your payment
• Receive Digital Fixed Deposit receipt and maximize your returns!

No, currently only one Digital FD can be booked using OTP-based KYC

No. As you have a Digital Savings Account you will not be able to book a Digital Fixed Deposit. After full KYC, you can use Our Mobile Banking, Internet Banking Service or give us a call at our Toll Free number – 1800 208 2121 for future FDs

To open a Digital Fixed Deposit account, you can pull funds from other banks via Debit Card and Net Banking.

To open online fixed deposit account, you can pull funds from other bank accounts via debit card and Net Banking.