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In Early days to open a Fixed Deposit you will have to go to Bank directly, then ask Bank staff about the best Fixed Deposit scheme and its tenure. Fill up an application form for Fixed Deposit. Stand in the queue to pay cash and wait till your Fixed Deposit receipt (FD receipt) is printed in a beautiful hard paper and given to you in Bank’s plastic envelope.
Times have changed now. You can now open a New FD from your home using your Computer, tablet or even a smartphone. Its that simple and fast.
Steps for Online Fixed Deposit in State Bank
Login to your Net banking account. (Details of Logging to Net Banking in State Bank Group website is shown in the this page)
After logging in you will get the following screen.
Click on E-fixed deposit tab as shown in the picture below.
If you are having multiple accounts in the same bank (which have been linked to one net banking account), select the account from where you want to invest to Fixed Deposit. Click as shown below
Fill in the Amount on the Given space as shown below. Make sure that you have sufficient balance in your account.
Click on the Senior Citizen check box, if you are a Senior Citizen (Senior Citizens will get higher interest rate for Fixed Deposits). Then select STDR or TDR based on your choice. (Difference between STDR and TDR can be found in another post). Accept terms and conditions if you agree to it.
Finally Click on submit to Generate your Fixed Deposit Account. Remember, e-Fixed Deposits can be created online from 8:00 AM IST to 8:00 PM IST. Requests initiated beyond this period will be scheduled for the next opening hours.
Loans & EMIs – Leads to Sleepless nights
Has anyone thought of having a financial planner.We plan most of the things in life before executing it, except our finances. This will finally end up in Loans and EMIs, which cant be settled with our salaries.
Is my Earnings enough to Approach a Financial Planner?
We have this question in our mind. Financial planners are only for High networth Individuals or Corporate Leaders. You may ask yourself, do I need to earn minimum of 25lakhs annually to make a better planning of my finances?
Why we need Financial planning?
Everyone needs a financial planning in life. Actually this has to be started with low income individuals, so that they can achieve their targets in their life without having sleepless nights thinking of EMI. If you plan for a targeted money, you have to plan it early and find for the investment avenues, where it can meet your target.
Free Financial Planner
You do not have to appoint a paid financial adviser for this this purpose. Most of the Bank Managers and Investment experts have good knowledge of financial planning. They can guide you to reach your financial goals in your life without much headaches.
Paid Financial Planner
A paid Financial planner would be a better option instead of a Free service. Through Paid services you will get a detailed financial plan for your entire year. Strictly following this kind of advise will surely take you to your targets.
How much does do I have to Pay for a Financial Planner?
The charges may vary depending on the location. Cost of financial planner in Delhi may not be the same as in a Remote town. So if you are earning 3Lakh in a year you can think of spending atleast 10000 (Ten thousand) for a good financial planner. By paying these charges you will be changing your habits and lifestyles to meet your financial goals and you can see your investments growing every year.