Is there a monthly payout option available with FDs?
Yes, you can withdraw your FD before its maturity. The withdrawal criteria may be different depending on the bank. See details below:
Utkarsh Small Finance Bank and Shivalik Small Finance Bank
Withdrawal allowed: After 7 days
Invested amount: No penalty
Interest earned: No penalty, interest applicable is of the tenure for which the FD has remained active
Shriram Finance Ltd. and Bajaj Finance Ltd
Withdrawal allowed: After 3 months
Invested amount: No penalty
Interest earned:
If you withdraw between
3 to 6 months: No interest will be paid
6 to 12 months: 3% less interest than 12 month FD rate
12 months to FD maturity: 2% less interest than the interest applicable on tenure for which the FD has remained active
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Can I make monthly investments in FD?
Thank you for reaching out to us. Currently we don't have RDs on the platform; but we have just started and are open to suggestions! However, should you want to: you can book small FDs every month. Once you complete your VKYC with any Bank on our ...
Which FDs are insured by RBI?
Thank you for writing to us. All deposits with nationalised and private banks are insured by DICGC, a subsidiary of RBI. FDs on Stable Money with Utkarsh Small Finance Bank and Shivalik Finance Bank FDs are insured for up to ₹5 Lakhs. As per RBI, any ...
Can I book a joint account FD?
No, currently Joint FDs cannot be booked via the Stable Money app. Only Individual FDs are available.
Which FDs require Video KYC?
Video KYC is a one-time bank-required process to approve your FD as per RBI regulations. Video KYC is needed if you - 1. Book your first FD with Utkarsh SF Bank of above ₹90,000 or a tenure of more than 1 year. 2. Book your first FD with Shivalik SF ...
Which payment modes are available to book my FD?
Which payment modes are available to book my FD?