SBI: How to make ONLINE TERM DEPOSITS, RECURRING DEPOSITS?

SBI Savings Account Internet Banking Online Fixed Deposit
It is now extremely simple to make online fixed deposits (or term deposits) if you have 'transactions enabled' internet banking for your State Bank of India Savingws Account.

Step 1) Login to your SBI Account using your username and password.

Step 2) Click on "Requests" tab as shown below.

Step 3) Choose from an option of Term deposit (i.e fixed deposit) or Recurring Deposit or another saving Account. Then Click on Submit. Next page you see is something like this

Step 4) Enter your choices, make sure you have enough money in your account and hooray ! you are done. You will however have to visit your branch (after a day or two) to collect the 'advice' or the fixed deposit or recurring deposit certificate.

The request takes one or two days to process. After being processed, you will see a 'separate entry' of your term deposit account on the main page after logging in on your internet banking page. This process avoids the trouble of having to stand in queues or sometimes having to visit your branch twice, once for opening the term deposit account and then for collecting the certificate.

Dec 23, 2008

5 comments:

Sunil Kumar Rawat June 4, 2009 at 11:48 AM  

After this process, how much time they will take to create a separate entity @ main page for Term Deposit. Because after apply amount has been deducted from my account. and In enquiry status is saying Transaction Logged

Ajit June 30, 2010 at 11:03 PM  

how can we cancel online fix deposit done online.

arvind August 29, 2010 at 7:56 PM  

I was able to open fix deposit account instantly and got the receipt online. I was surprised to see the account opened was available in account summary. Everything was completed in less than a minute. Great services.

Ankita October 18, 2010 at 2:02 PM  

how to close a SBI fix deposite account online?

Anonymous October 22, 2010 at 12:20 PM  

I would like to open recurring deposit in SBI bank.
What is the process.

Gangmei Lungthanpou Rongmei

M.no.8802268153


Email ID: jgangmei@yahoo.com

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