How to Open KVB Fixed Deposit (FD) Online
Karur Vysya Bank (KFB) offers the option of opening a fixed deposit account both offline and online. You can open an account from the comfort of your home on your laptop or smartphone or by just walking into the bank's branch that is nearest to you.
KVB FDs offer attractive interest rates and convenient interest payout options along with a host of other benefits that help you get guaranteed returns for your hard-earned money. Here's what you need to know about how to apply for a KVB FD.
How to Open KVB Fixed Deposit Online
Here are the steps you need to follow to get an FD opened with Karur Vysya Bank:
- Step 1: Visit the official website of KVB
- Step 2: Navigate to the ''Personal'' tab
- Step 3: From the menu, click on ''Fixed Deposit''
- Step 4: On the FD page, click on ''Apply Now''
- Step 5: On the page that pops up, enter the details requested
- Step 6: Tick on the box to authorise the bank's representative to get in touch with you
- Step 7: Click on Submit
- Step 8: You will be contacted by the bank to complete the procedure for opening an FD account
Details of KVB FD
You can apply for a KVB FD with a minimum amount that is as little as Rs.100 with no maximum amount set. The period of deposit is also very variable and stretches from 15 days up to 10 years.
The interest pay-out options are also varied and range from monthly and quarterly to half-yearly. You can also avail a loan on your deposit up to a certain percentage of the deposit amount. Nomination facility is also available.
If in need of funds on an emergency basis, you can either take out a loan against the FD or close the account prematurely with a nominal penalty involved for premature closure.
FD Calculator
Using an FD calculator has many benefits. It can help you compare different FD tenures and interest rates within the same bank or even among different banks. It can help you decide how much to invest and for how long. It can help you choose the investment tenure that will yield the maximum returns for your FD.
The FD calculator is an online tool that is free to use. It is also easy and quick to display the accurate maturity amount. All you have to do is enter the data required, which is the FD amount you wish to invest, the investment tenure you would like, and the current interest rate for that tenure.
For example, if you want to invest Rs.1 lakh in a KVB FD and want to find out which tenure is best for the maximum returns, just enter the data required and choose among the different tenures that are available with KVB.
Taking the example of two different tenures such as one year and above 5 years, you will be able to see that the one-year tenure, with an interest rate of 5.00% p.a.,
will fetch you a maximum amount on maturity of Rs.1.1 lakh, with an interest rate of Rs.1000, whereas for a tenure of 5 years with an interest rate of 5.75%, you will get a maturity amount of Rs.1.3 lakh with an interest rate of Rs.30,000.
Benefits of opening a KVB FD account
Some of the benefits of opening a KVB FD account are:
- Encourages savings as you can start an FD with any amount that exceeds Rs.100
- The different interest pay-outs ranging from monthly to quarterly and half-yearly ensure a regular source of income
- You get an assured rate of return no matter what the market conditions might be
- You don't have to pay tax on your FD unless your interest income from all your fixed deposits together exceeds Rs.40,000 per year (and Rs.50,000 for senior citizens)
- Senior citizens get additional interest rate which is often up to 0.50% more than that for regular citizens
- You can easily liquidate your FD both online and offline when in need of urgent cash
- You can also avail a loan against your FD
- Tax-saver FDs have a higher rate of interest and also get you tax deductions of up to Rs.1.5 lakh per year although they do have a lock-in period of 5 years
- You have a wide range of tenures to choose from
- Nomination facility is available
- The FD can be viewed and managed using your internet banking account
- The FD is easily renewable
The KVB fixed deposit is a smart investment choice for the discerning person who wants both assured returns and safety of their capital.
Apply for Other Banks FD
- Apply for SBI FD
- Apply for HDFC FD
- Apply for Axis Bank FD
- Apply for Post Office FD
- Apply for Canara Bank FD
- Apply for IDBI Bank FD
- Apply for Bank of India FD
- Apply for Bank of Maharashtra FD
- Apply for Union Bank FD
- Apply for Indian Bank FD
- Apply for Central Bank of India FD
- Apply for IOB FD
- Apply for Abhyudaya Bank FD
- Apply for Oriental Bank FD
- Apply for IndusInd Bank FD
- Apply for Standard Chartered Bank FD
- Apply for Yes Bank FD
- Apply for Kotak Bank FD
- Apply for PNB FD
- Apply for RBL Bank FD
- Apply for HSBC Bank FD
- Apply for Bank of Baroda FD
- Apply for Federal Bank FD
FAQs on How to Open KVB FD Online
- What are the documents required to open an FD account?
The documents that are required to be submitted to open an FD account are PAN card, Aadhar card, driving license, voter ID, passport, two passport size photographs, and utility bills.
- What are the different types of KVB FD schemes?
Some of the popular KVB FD Schemes are KVB Fixed Deposit Scheme, KVB Senior Citizen Deposit Scheme, KVB Tax Saving Deposits, and Thirumagal Thirumana Thittam (TTT).
- Can I open Karur Vysya Bank FD account offline?
Yes, you can open Karur Vysya Bank FD account offline. For this, you need to visit your nearest branch of KVB Bank and submit the duly filled FD account opening form. The bank’s officials will verify your details and get in touch with you for the further process.
- Is KVB safe for FD?
Yes, KVB is safe for opening an FD account.
- Can I get loan against loan against KVB FD?
Yes, Karur Vysya Bank provides loan against its FDs.
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