The bank has steadily increased interest rates on its loans. Due to the steady increase in deposit rates, investors are choosing FD in banks. The State Bank hiked interest rates on its FDs of less than Rs 2 crore by 80 basis points on October 22nd.
If you want to open an FD account at the bank after this hike, you don’t need to go to the branch in this situation. You can open an SBI FD account online while sitting at home.
All you need is online banking from the bank. We will walk you through the steps if you wish to open an FD account with State Bank of India while you are at home.
Here are details on how to create an SBI online FD account in 10 easy steps:
Step 1. First click on the SBI website to open an FD account.
Step 2. Log in to net banking by entering your username and password here.
Step 3. Then select the Deposit Schemes option under the Home option.
step 4 After that, click on the term deposit option and then select e-FD.
Step: 5. Select the type of FD account you want to start after. After that select the option Continue.
Step: 6. Next, decide which account the funds will be withdrawn from and deposited into the FD account.
Step: 7. After that, fill in the NPV of FD. Choose this option if you are a senior citizen.
Step: 8. Next, decide when the FD is due; the due date.
Step: 9. You finally select all the terms and conditions.
Step: 10. Once you click the Submit button, your online FD will open