If I opt for a fixed deposit online will I be getting a physical copy or just a digital one?
It will depend on your bank and their policy but overall the online banking system automatically generates a term deposit receipt containing all your relevant details including interest rate, tenure, fixed deposit amount and other details. Some banks also send a physical copy of
the FD receipt to your communication address.
As per RBI guidelines, banks are required to provide FD account holders with physical proof of their deposit, regardless of whether the FD was opened online or in person at the branch. However, if you prefer not getting a physical copy you can speak to your branch and ask them to send you correspondence via email. But remember, to open a Fixed Deposit online, you need to have your netbanking facility up and running with the bank you’re opening the FD with.
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