Guide to open AU fixed deposit Online

Fixed deposit (FD) is a financial instrument where an individual deposits a lump sum of money with a bank for a fixed period. The bank offers a fixed interest rate on the deposit, which is higher than a regular savings account. The interest rate offered on fixed deposits varies depending on the bank, tenure, and the amount deposited. The tenure of fixed deposits usually ranges from 7 days to 10 years, and the interest rate offered is higher for longer tenures. Fixed deposits are a popular investment option among risk-averse investors looking to earn higher returns than traditional savings accounts. They offer a fixed rate of interest for a specified period, making them an attractive investment option for those looking to earn a guaranteed return. AU Small Finance Bank, a leading small finance bank in India, offers customers the option to open fixed deposits online. In this blog post, we will walk you through the process of opening an AU Bank fixed deposit online.

Fixed deposits come with a host of features that make them an attractive investment option for those looking to earn a fixed return.

1. Guaranteed Returns: One of the key advantages of fixed deposits is that they offer a guaranteed return. FD interest rate offered is fixed at the time of investment and remains the same throughout the tenure of the deposit.              

2. Flexible Tenure: Fixed deposits come with a range of tenure options, ranging from 7 days to 10 years. Investors can choose the tenure that best suits their financial goals and investment objective     

3. High Liquidity: Fixed deposits offer high liquidity, allowing investors to withdraw their funds before the maturity date. However, premature withdrawal usually attracts a penalty fee     

4. Nomination Facility: Fixed deposits offer a nomination facility, allowing investors to nominate a beneficiary who will receive the deposit amount in case of the investor's demise.

AU Small Finance Bank offers customers the option to open fixed deposits online and offline.

 The process for opening a fixed deposit through both channels is explained below:         

1. Online:

Step 1: Visit the AU Small Finance Bank website and click on the ‘Fixed Deposit’ option under the ‘Deposit’ section.

Step 2: Choose the type of fixed deposit you want to open (regular or tax saver) and select the tenure and deposit amount.

Step 3: Enter your personal details, such as name, address, and contact information.

Step 4: Choose the mode of payment and transfer the deposit amount to the bank account.

Step 5: Once the deposit amount is credited, the fixed deposit account will be opened, and the bank will send a confirmation message to the registered mobile number.

2. Offline:

Step 1: Visit the nearest AU Small Finance Bank branch and fill in the fixed deposit application form.

Step 2: Submit the filled application form along with the required documents, such as identity proof, address proof, and PAN card.

Step 3: Transfer the deposit amount to the bank account.

Step 4: Once the deposit amount is credited, the fixed deposit account will be opened, and the bank will send a confirmation message to the registered mobile number.

To open a fixed deposit account with AU Small Finance Bank, the following eligibility criteria must be met:            

• Applicant must be a resident of India.

• The applicant must be above the age of 18 years.

• The applicant must have a valid identity proof, such as a PAN card or Aadhaar card.

Conclusion:

Fixed deposits are a safe and reliable investment option for those looking to earn a guaranteed return. AU Small Finance Bank offers customers the option to open fixed deposits online, making the process quick