Meet Riya. She recently got her incentive, which she wants to put to work. She wants a safe and steady return (more than her savings bank interest!), but the mutual funds require a monthly commitment, and the stock market seems too volatile for her taste. She knows her parents prefer investing in fixed deposits (FDs), a secure way to earn guaranteed returns on her money. However, she does not have a savings account with the bank she prefers—the one with the highest FD interest rates.

Can she still benefit from FDs? Absolutely! This article will guide Riya, and of course, you, through FDs and the convenient process of opening a fixed deposit online, entirely without a savings account.

Fixed deposits and their benefits
 

Looking for a safe and reliable way to grow your savings? Then, opening a fixed depositmight be the right choice for you! The process of FD opening is as follows:

• Offered by banks and some non-banking financial institutions (NBFCs), FDs are a type of investment where you deposit a lump sum of money for a fixed period.
• During this time, your money will earn a predetermined interest rate higher than regular savings accounts.
• Upon maturity, you will receive this interest along with your initial deposit.

Here is what makes opening a fixed deposit so interesting –

• Stable and predictable growth –

Unlike stocks and shares that jump and jive, FDs are not affected by market volatilities. You will receive a steady interest rate on your investment, come rain or shine.

• Minimal risk –

Since your money is locked in for a fixed term, it is safe from market fluctuations. It makes FDs a great option for those prioritising security for their savings.

• Earn more than savings accounts –

FDs offer a higher interest rate than regular ones, so your money multiplies faster.

• Flexible options to fit your needs –

Banks offer FDs with various terms, so you can choose a time limit that aligns with your financial goals. Need money for a trip in a year? There is an FD for that. Saving up for a down payment on a house? FDs can help you get there, too!

• Customised income –

Looking for a regular income stream? FDs can be your solution. Depending on your needs, you can receive interest payouts periodically, like monthly or annually.

• Easy to open –

Opening a fixed deposit is a breeze. You can visit your bank branch or use their online banking facilities. Minimal paperwork, maximum convenience.

Why can opening a fixed deposit traditionally be inconvenient?
 

While opening a fixed deposit online sounds convenient now, traditionally, it required a connected savings account. This account would function as the source and destination for the deposited funds. However, this requirement is a barrier for individuals like Riya, who may not have a savings account with a particular bank and want to invest in their fixed deposits. To do so, she would need to open a savings account with the bank first.

Introducing Metra Trust Digital Fixed Deposit
 

Metra Trust has introduced a revolutionary way to invest in FDs—completely online without needing a savings account. Their digital FD solution provides a seamless experience with industry-leading interest rates and unmatched convenience.

Here is what makes Metra Trust Digital FD the perfect choice for you –

• Superior returns –

Earn attractive FD interest rates on your deposits, up to 7.75% p.a., for a steady and predictable income.

• Multiple and flexible interest payout options –

Choose how you receive your interest—monthly or quarterly—as per your financial needs. You can also enjoy compounding with monthly or quarterly options for maximised returns.

• Senior citizen benefits –

Enjoy no penalty on premature withdrawal and an additional 0.5% interest rate for better growth and a comfortable retirement.

• Flexible tenure options –

Choose a tenure that aligns with your short-term or long-term goals. You can select a period starting from 7 days to 10 years.

• Low minimum investment –

Start your investment journey with a minimum deposit of just ₹ 5,000. 

How to open a fixed deposit account online?
 

Opening a fixed deposit account online is a quick and effortless process. Here is how you can open an Metra Trust Digital FD in just three simple steps –

• Step 1 –

Visit the Metra Trust website and navigate to the Digital FD section.

• Step 2 –

Provide your basic KYC details and verify with OTP.

• Step 3 –

Select your desired amount, tenure, interest payout option, and transfer funds to create the FD.

Once funded, your FD will be activated, and you will start earning interest on your investment.

Advantages of opting for online fixed deposits
 

Here is why opening a fixed deposit online, without linking a savings account, might be perfect for you –

• Convenience at your fingertips –

Open an FD anytime, anywhere - during your lunch break or phone while commuting home. No need to wait in line or squeeze into a bank’s schedule.

• Competitive interest rates –

Opening a fixed deposit online often delivers higher interest rates, sometimes even higher than those on traditional FDs. This is because online platforms have lower operating costs, which can translate into better returns for you.

• Faster and simpler –

The online application process is quick and easy. No complicated forms or stacks of documents. Just fill in some basic details, and you are good to go!

• Flexibility you crave –

Some online FDs do not require a linked savings account, giving you more control over your money. Deposit the specific amount you want to invest and forget about it!

• 24X7 Access and management –

Monitor your FD, track its growth, or even consider premature closure (if allowed)—all from the comfort of your online banking portal. Manage your investment on your terms!

So, if you are looking for a secure and hassle-free way to grow your savings, consider opening an online FD today. It’s a smart and convenient option that fits your busy lifestyle.

Open a fixed deposit online today!
 

Metra Trust Digital FDs simplify the process of opening a fixed deposit by removing the need for a linked savings account. This way, you can enjoy the security and predictability of FDs from the convenience of your home. So, what are you waiting for? Open a Digital FD today and start earning guaranteed returns on your hard-earned money!