Whenever you invest in a scheme, such as a Fixed Deposit, it is important to store a receipt or proof of investment.
This can be helpful in case you face any hassle during the liquidation of your investment.
What is a Fixed Deposit?
A Fixed Deposit is an investment scheme where you can invest a specified sum of money for a predetermined period to
earn interest. The idea behind an FD is to provide a secured investment avenue so that you can safely park your
excess funds.
How to invest in Fixed Deposits?
1. Online investing
Open your mobile banking app or your Internet banking account, navigate to the 'Fixed
Deposit' section and follow the instructions to open an account. As the bank already has all your details, you don’t
need to provide additional paperwork. The FD account will be linked to your bank account and the investment amount
will get deducted from it automatically. Upon maturity, the money will get credited to your bank account.
2. Offline investing
Visit the bank where you wish to open the FD account. If you already have an account
in that bank, you don’t need to provide any additional paperwork. Otherwise, you need to provide your KYC
information and relevant documents while opening an FD.
Fixed Deposit receipt
After you open a Fixed Deposit, you will get a receipt from the bank. The bank may send it to you by post. The Fixed
Deposit receipt acts as a proof of investment, and you might need the same when your FD matures. The FD
receipt has important information, including:
- The deposit amount, date and rate of interest applicable
- Fixed Deposit account number
- Maturity details like maturity amount, date and tenure
- Details of the nominee or joint account holder, if any
- Your bank account details like the account number
- Information about important terms like premature withdrawals and penalty, if any
How to download the Fixed Deposit receipt?
Getting a Fixed Deposit receipt depends on how you applied for the FD. In case you applied offline by visiting the
bank branch, then you can get the FD receipt once it is created. In the case of online applications, each bank has
its own interface as to how you generate the receipt.
In the case of Axis Bank, you can download the Fixed Deposit receipt through Internet Banking -
- Log in to your Internet Banking account
- Click on 'Deposits' and select 'FD'
- Click on FD / RD advice
- Receipt gets downloaded in PDF format
Also Read: Unclaimed
deposits simplified: Know how to access your unused funds
In a nutshell
A Fixed Deposit receipt is crucial as it acts as a proof of your investment. It is important to store this document
as soon as you create your FD.
To start a Fixed Deposit conveniently online, Axis Bank's Fixed Deposit scheme offers interest rates of 7.2% p.a.,
and flexible tenures starting from as short as 7 days. It allows you to start small with a minimum deposit of just
₹5,000 via the mobile app. Start investing now!
Disclaimer: This article is for information purpose only. The views expressed in this article
are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd.
and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader
for taking any financial decisions based on the contents and information. Please consult your financial advisor
before making any financial decision.
