For most people, opening a fixed deposit has always felt like a trip to the bank. But things have changed. Today, you can set up an FD online from wherever you are — no forms, no queues, just a few clicks.

If you're new to this, here's a simple guide to walk you through the process. It’s easy, secure and doesn’t take much time.

Step 1: Choose your bank or platform

Start by deciding where you want to open your fixed deposit. You can go with your existing bank or try a financial platform that offers better interest rates. Many apps also let you compare different FD options side by side.

If you already have a savings account, opening an FD online with the same bank is usually quicker since your KYC is already done.

Step 2: Log in to your account

Once you pick a bank or platform, log in to your net banking or mobile banking app. Most apps have a separate section for fixed deposits. It might say “Open FD” or “Book FD” — just tap on that.

You’ll usually be asked to enter the deposit amount and the term you want.

Step 3: Select the tenure and interest option

This is where you decide how long you want to keep the money invested. It could be anything from a few months to several years. Some banks show a chart of different rates based on the tenure. Go through it and pick what suits your goal.

Next, you choose whether to receive the interest at maturity or as regular payouts. If you want income every month or quarter, select the non-cumulative option. Otherwise, go with cumulative for compounding benefits.

Step 4: Confirm and submit

After reviewing all the details, you’ll be asked to confirm. Some platforms also show a summary — amount, interest rate, maturity value and date.

Once you submit, your FD gets booked instantly. You’ll receive a confirmation on your email or phone with all the details.

Step 5: Track your FD easily

After booking, you can see your FD anytime in your app or net banking. It will show you the amount, rate, start date and maturity date. You don’t need to call the bank or visit a branch.

Some platforms even let you set reminders for maturity or renew your FD online with one click.

Why this matters

Opening an FD online isn’t just about convenience. It gives you the freedom to compare rates, avoid paperwork and manage your money better. And for many, it’s a good first step toward building financial discipline.

It also pairs well with other secure options like Bonds in India, especially if you're building a low-risk portfolio.

FDs may be traditional, but they’ve kept up with the times. Doing it online just makes it better.