How to Open a Digital FD Without a Savings Account: Step-by-Step Process
Disclaimer: The information is shared in good faith and for general informational purposes only. Ujjivan SFB does not make any representations or warranties regarding the accuracy, completeness, or reliability of the content.
April 06, 2026
Opening a fixed deposit (FD) has become significantly more convenient with the rise of digital banking. Today, banks like Ujjivan allow you to open a fixed deposit online without requiring to open a new savings account, making the process more flexible and accessible.
In this blog, we will learn how to open a Digital Fixed Deposit with Ujjivan.
What is a Digital Fixed Deposit?
As the name suggests, a Digital Fixed Deposit allows you to open an FD online. It’s a 100% paperless process that allows you to open an account from anywhere, anytime – no branch visits required.
Ujjivan’s Digital Fixed Deposit can be opened without opening a Savings Account with the bank. That said, managing your deposit can often be smoother when it is supported by a savings account.
Who May Find This Option Useful?
This option is useful for:
How to Open a Digital Fixed Deposit?
Step 01: Enter your mobile number, PAN, and Aadhaar details.
Step 02: Add your deposit details and complete the payment.
Step 03: Fill in your personal information.
Step 04: Complete your Video KYC with original PAN between 08:00 AM and 08:00 PM.
Step 05: Receive your FD receipt and start earning better returns.
*Please ensure your mobile number is linked to Aadhar for OTP (One-Time Password) verification.
Factors to Consider While Opening a Fixed Deposit
1. Interest Rate Offered
The interest rate is one of the most important factors to consider before opening an FD because it directly impacts the returns you earn on your investment. Even a slight difference in interest rates can significantly affect the maturity amount, especially if you are investing a larger sum or choosing a longer tenure. You can check the latest interest rates here.
For better understanding, use our Fixed Deposit Calculator to compare your returns and plan your investments accordingly.
2. Deposit Tenure Selection
Selecting the right tenure is essential when opening a Digital FD, as it helps align your investment with your financial goals. While you can invest for a tenure ranging from 7 days to 10 years, the interest rates may vary based on the tenure you select.
3. Premature Withdrawal Rules
Before investing, it is important to understand the premature withdrawal terms of the FD. Although Fixed Deposits are designed to be held until maturity, you may need access to your funds in case of an emergency or unforeseen financial need. That said, Ujjivan does not charge any penalty for withdrawals made after 6 months from the time of deposit.
4. Add Nominee
While adding a nominee is not mandatory, it is an important feature to consider when opening an FD. A nominee is the person who can claim the deposit amount in the event of the depositor’s demise, making the process smoother for the family or legal heir. Including a nominee helps provide clarity and can reduce potential complications during claim settlement. Even though it is optional, adding a nominee is a practical step that can offer added convenience and peace of mind for the future.
5. Choose Interest Pay-out Option
Another important factor to consider is the interest pay-out option that best suits your financial needs. Digital FDs generally offer flexibility in how interest is received, such as periodic payouts at regular intervals or cumulative payouts where the interest is paid along with the principal at maturity. If you are looking for a regular income stream, a periodic pay-out option may be more suitable. On the other hand, if your goal is to maximize returns over time, a cumulative option may work better. Choosing the right pay-out structure ensures that your FD supports your financial planning effectively.
Final Thoughts
Digital Fixed Deposit or online FD is designed to make account openings convenient and accessible. You don’t need to open a separate savings account to open a Digital FD with Ujjivan. Additionally, Ujjivan offers higher FD interest rates helping you grow steadily.
Open a Digital Fixed Deposit with Ujjivan today and enjoy stable and assured returns.
Disclaimer:
The contents herein are only for informational purposes and generic in nature. The content does not amount to an offer, invitation or solicitation of any kind to buy or sell, and are not intended to create any legal rights or obligations. This information is subject to updation, completion, amendment and verification without notice. The contents herein are also subject to other product-specific terms and conditions, as well as any applicable third-party terms and conditions, for which Ujjivan Small Finance Bank assumes no responsibility or liability.
Nothing contained herein is intended to constitute financial, investment, legal, tax, or any other professional advice or opinion. Please obtain professional advice before making investment or any other decisions. Any investment decisions that may be made by the you shall be at your own sole discretion, independent analysis and evaluation of the risks involved. The use of any information set out in this document is entirely at the user’s own risk. Ujjivan Small Finance Bank Limited makes no representation or warranty, express or implied, as to the accuracy and completeness for any information herein. The Bank disclaims any and all liability for any loss or damage (direct, indirect, consequential, or otherwise) incurred by you due to use of or due to investment, product application decisions made by you on the basis of the contents herein. While the information is prepared in good faith from sources deemed reliable (including public sources), the Bank disclaims any liability with respect to accuracy of information or any error or omission or any loss or damage incurred by anyone in reliance on the contents herein, in any manner whatsoever.
To know more about Ujjivan Small Finance Bank Products Visit:"https://www.ujjivansfb.bank.in"
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FAQs
1. How is the deposit amount transferred if there is no savings account with the same bank?
In such cases, the deposit is usually funded through an existing account held with another bank, using the payment method supported by the institution.
2. Is nomination available for a digital fixed deposit?
Though not mandatory, adding a nominee ensures seamless transfer of funds upon account holder’s demise.
3. What documents do I need during Video KYC?
You would need your original PAN card to complete your Video KYC. For signature capturing purposes, you would need a blank paper with a blue or black pen. The entire process is safe & secure.
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