Question 1

How to get ₹200 cashback with FD?

Accepted Answer

You are eligible for a cashback of ₹200 as a reward for completing your first FD booking with Utkarsh Bank or Shivalik Bank on Moneycontrol. The cashback details will be sent to your registered email ID within 5 working days of a successful Utkarsh or Shivalik FD booking. The minimum FD booking amount is Rs. 1000. Please note that the reward is applicable only on the first FD booking with either Utkarsh or Shivalik SF Bank.

Question 2

How do I complete my VKYC process?

Accepted Answer

For a VKYC process with Utkarsh Small Finance Bank and Shivalik Small Finance Bank, please ensure that you have your Pan card, and white paper for signature ready. Bank agents are available at the following timings:

Utkarsh SF Bank: 7:00 am to 11:00 pm, all days.
Shivalik SF Bank: 8:00 am to 8:00 pm, Monday to Saturday.

Question 3

What is a fixed deposit and why should I invest?

Accepted Answer

A fixed deposit is one of the most popular ways of saving money in India. It is a safe investment that offers good returns and is easy to open. You invest a lump sum money in a fixed deposit scheme at an agreed interest rate and then receive your investment amount alongwith the interest on maturity of the scheme. The rates of a fixed deposit are fixed, higher than your regular savings account and the investment is safe from any market fluctuations.

Question 4

What is an NBFC and do they also offer fixed deposits?

Accepted Answer

As per Section 451(c) of the RBI Act,  Non-Banking Financial Corporation (also called as NBFC) is a company that carries the business of a financial institution without a full banking license. The functions of the NBFCs are managed by both the Ministry of Corporate Affairs and the Reserve Bank of India.
NBFCs offer a variety of services like savings & investment plans, lending schemes, insursance, etc. They also offer fixed deposits for customers to invest in.

Question 5

I already have a running FD with the bank. Can I book another one?

Accepted Answer

Yes you can invest in multiple FDs with different providers. You can also have multiple FDs with the same provider.

Question 6

I am a senior citizen, what are the additional benefits I can avail?

Accepted Answer

Most banks and NBFCs offer an additional interest rate of upto 0.6% over the regular fixed deposit interest rates for senior citizens thus making it even more attractive for senior citizens.

Question 7

I am a minor. Can I book FD?

Accepted Answer

Currently we are not able to process fixed deposit requests for minors.

Question 8

Why does my mobile number need to be verified?

Accepted Answer

We verify your mobile number to create a secure account for you. Doing this we are able to create a smooth app experience while ensuring safety of your account.

Question 9

I have a dual SIM Phone, can I link any of the SIM for the FD purchase?

Accepted Answer

Having a dual SIM phone does not hold you back from investing in fixed deposits with us. We recommend you to use the SIM which is registered with a bank account to proceed with authentication.

Question 10

I do not have PAN, can I invest in FD?

Accepted Answer

Currently we can only process fixed deposit requests for individuals having an active PAN linked to their name.

Question 11

Is it mandatory to add nominee?

Accepted Answer

No it is not. But we recommend to add nominee against your Fixed deposit.

Question 12

What is an FD advice?

Accepted Answer

The bank provides a computer-generated statement that acts as a proof of ownership or investment when you open a FD. This document is the FD Advice.

Question 13

How are FDs taxed?

Accepted Answer

Interest earnings from your fixed deposit are taxed as per your tax slab. For e.g. if you are in a 20% tax bracket and you made a 6%1 year FD of Rs 1 lac. Your total interest for the year is Rs 6000. The tax that you will have to pay while filing will be 20% of 6000 = Rs 1200

Fixed Deposit

EARN ₹ 200 CASHBACK

INVEST IN HIGH-RETURN FDs

EARN ₹ 200 CASHBACK

INVEST IN HIGH-RETURN FDs

EARN ₹ 200 CASHBACK

Frequently Asked Questions