State Bank of India has this feature of making online Fixed Deposit, however based on my expereince it isnot as efficient as other banks like HSBC. It seems it depnds on which branch you are opening this FD and how efficient that branch is. They have tried to make it quite simple. Firstly, you need to have 'transactions enabled' in your SBI account. Sometimes, when we get online access, it just gives us access to view mode, so we need to make sure that we have 'transactions enabled' for our account which is just a one time affair.
Now follow these steps:
Step 1. Login to SBI account using your SBI account login Id and Password.
Step 2. Click on requests tab at top
Step 3. Choose the option of Term Deposit (Fixed Deposit). Then click on Submit.
Step 4. Enter your desired information including amount and duration of FD.
Thats All. Now as per the instructions which I understood, you request will be there with the branch and someone from branch will open this FD for you. That is what I have expereinced and in my case no one from that branch responded on this. So My request shows ' Request Logged' as the status but neither the money is deducted from my account nor I see the new FD accoint in my Accounts Summary which should have been done. Many people see their FD account in Account Summary after follwoing these steps. To my surprise, some people saw their FD account right after filling these details as if this was done electrnically and no manual interbention was required which is something opposite to message that I received.
Please comment on this post with your experience while opening your FD account with SBI.
Now follow these steps:
Step 1. Login to SBI account using your SBI account login Id and Password.
Step 2. Click on requests tab at top
Step 3. Choose the option of Term Deposit (Fixed Deposit). Then click on Submit.
Step 4. Enter your desired information including amount and duration of FD.
Thats All. Now as per the instructions which I understood, you request will be there with the branch and someone from branch will open this FD for you. That is what I have expereinced and in my case no one from that branch responded on this. So My request shows ' Request Logged' as the status but neither the money is deducted from my account nor I see the new FD accoint in my Accounts Summary which should have been done. Many people see their FD account in Account Summary after follwoing these steps. To my surprise, some people saw their FD account right after filling these details as if this was done electrnically and no manual interbention was required which is something opposite to message that I received.
Please comment on this post with your experience while opening your FD account with SBI.
My requests shows 'request logged' even after several months!
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