How to open fixed deposit in Yono SBI?

 

Hello friends, in this article we are discussing the topic how to open fixed deposit in Yono SBI. If you are a SBI customer and you are using Yono SBI mobile application then you can easily create a fixed deposit or close the fixed deposit online.

 

Many times we want to save some rupees for sometimes. But if it remains at savings account chances of spending this money is very much. On this conditions you we can open a fixed deposit in SBI. But we don’t want to go bank and want to do all the formalities and stand in long queues.  At that time we can use Yono SBI and can open a fixed deposit in just a minute. If you open a fixed deposit online in SBI then you can also close the FD at any times. The amount will be transferred to your savings bank account instantly.

 

If you are also searching for how to open FD in SBI online then read this article till end. In this article we are discussing the steps of opening a fixed deposit on Yono SBI.

 

How to open fixed deposit on Yono SBI:

Before going to open fixed deposit in SBI Yono, you should register in Yono SBI first. If you have registered already then follow the following steps.

 

STEP 1: Go to Yono SBI mobile app and login to your account.

 

STEP 2: After login to your account you will see some icons on the home page of your account. Click on the icon ‘Accounts’

 

STEP 3: Now you are at the accounts page. On the top bar of the page you will see your savings bank balance, deposit account balance (if any), loan account balance (if any) etc. Click on the ‘My deposit’ tab on the upper bar.

 

STEP 4: As you click on ‘My deposits’ option deposit calculator, fixed deposit, recurring deposit etc. options will be appeared on the screen. Click on ‘Fixed deposit’ here.

 

STEP 5: A link ‘open fixed deposit’ will be appeared on the screen. Click on this link.

 

STEP 6: In this page you are asked to enter the amount to be fixed. You can enter any amount in the range 1000-9999999. Enter your amount and click on ‘Next’.

 

STEP 7: On this step enter your fixed deposit tenure as year, month and days. You can also view fixed deposit internet rate by clicking on ‘view interest rates’ link. Click on ‘Next’ button on the bottom of the page.

 

STEP 8: You are redirected to interest pay out selection page. Here you are asked ‘how frequently do you want the interest payout? You can select as per your requirement. The options are monthly, quarterly, half yearly and at maturity. Select any one of them as per your choice and click on ‘next’.

 

STEP 9: In this page you are asked ‘what would you like to do at maturity?’ Auto renewal, credit to account or renewal principal and repay interest.

 

If you select auto renewal your principal amount and interest will be fixed for another tenure on maturity, if you select credit to account the maturity amount will be credited to your savings bank account and if you select renewal principal and repay interest, interest will be paid to your savings account and the principal amount will be fixed for another tenure.

 

After selecting your choice option, click on ‘next’.

 

STEP 10: The details you have selected on the above steps will be appeared on the screen. Check the details once and accept the terms and conditions and finally click on ‘Confirm’.

 

STEP 11: Now your fixed deposit account will be created. One pop up message will also be displayed on the screen. You can download your fixed deposit account details clicking on ‘download’ link displayed on the message.

 

This is the process how to create a fixed deposit using Yono SBI. You can also watch the following video on this topic.