Scribd
Upload
60 views4 pages

Fixed Deposit Faqs

Fixed Deposits (FDs) are a safe investment option with guaranteed returns and higher interest rates than savings accounts, offered by banks and RBI-approved NBFCs. Upon maturity, the amount is automatically transferred to the initial payment account, and early withdrawals can be made after a lock-in period with proper documentation. Tax is applicable on interest exceeding ₹40,000, and no physical documents are needed for investment, only Aadhaar and email verification.

Uploaded by

djblendchintu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
60 views4 pages

Fixed Deposit Faqs

Fixed Deposits (FDs) are a safe investment option with guaranteed returns and higher interest rates than savings accounts, offered by banks and RBI-approved NBFCs. Upon maturity, the amount is automatically transferred to the initial payment account, and early withdrawals can be made after a lock-in period with proper documentation. Tax is applicable on interest exceeding ₹40,000, and no physical documents are needed for investment, only Aadhaar and email verification.

Uploaded by

djblendchintu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Fixed Deposit FAQs

1. Are FDs a safe investment?

FDs are a safe investment option with guaranteed returns,


offering higher interest than savings accounts. They are
offered by both banks and RBI-approved NBFCs, which are
regulated by the RBI and the Ministry of Corporate Affairs.

2. How will I get my money once the FD matures?

Your maturity amount will be automatically transferred to


the bank account used for the initial payment.

3. What if I need to withdraw my FD before it matures?

You can withdraw after the lock-in period (usually 3


months). Select 'Break FD' in the app, attach a signed copy
of the FD receipt and provide a reason. The money will
reach your account in 5-10 working days.

4. How long does it take for my FD to be confirmed, and


how can I track it?
It takes 30 minutes for payment confirmation and 3-5 days
for FD confirmation. You can track the status in the app
and through notifications.

5. Will I have to pay tax on the interest earned from my


FD?

Yes, if your interest exceeds ₹40,000 (₹50,000 for senior


citizens) in a year, tax will be deducted automatically.

6. What documents do I need to invest in a digital FD?

No physical documents are needed. Only Aadhaar and


email verification via OTP.

7. Can I nominate someone to receive my FD amount?

Yes, it’s highly recommended. adding a nominee ensures


that your FD amount will go to the person you choose in
case of any unfortunate event.

8. What happens if my payment for the FD fails?

If payment fails and the money is deducted, it will be


refunded within 7 working days. Track the status under
"Pending Investments" in the app.

9. Can I pay with someone else's bank account for my


FD?

No, you must use your own bank account, verified with
your PAN and Aadhaar.

10. Can an FD fail even when payment is collected?


When will I get my money back?

Yes, the FD can fail if the name on the bank account


doesn't match the name on your PAN or Aadhaar. Your
money will be refunded within 7 working days.

11. What if I lose my mobile number or email ID?

Raise a ticket under "FD Related Issues," and Fixerra will


help update your contact details.

12. Where can I download the FDR, interest certificate,


and account statement?
Check your email or visit the issuer bank's portal.

You might also like