Introducing Fixed Deposits on Coin

Even today, a large part of household savings in India sits in fixed deposits.

The appeal is simple, predictable returns, no market volatility, and very little to manage once you’ve invested.

But that simplicity doesn’t scale well. Once you have FDs across multiple banks, rates are scattered, processes differ, and tracking maturity dates and interest becomes harder than it should be.

We’re simplifying this by bringing fixed deposits to Coin.

You can now invest in FDs across multiple banks, compare rates side by side, and track everything, such as invested amount, accrued interest, and upcoming maturities, in one place.

We’re starting with three small finance banks:

• Suryoday Small Finance Bank: up to 8.0% p.a.
• Utkarsh Small Finance Bank: up to 8.0% p.a.
• Unity Small Finance Bank: up to 8.0% p.a.

The RBI regulates all three, and deposits up to ₹5 lakh are insured under DICGC (Deposit Insurance and Credit Guarantee Corporation).

Tenures range from 7 days to 60 months. Premature withdrawal is allowed after 7 days, with applicable penalties shown upfront.

How to invest

On the Coin app, tap on Fixed Deposits and then Invest.

On the web, log in via Kite and go to Fixed Deposits, or visit fd.zerodha.com.

From there:

• Pick a bank and compare interest rates across tenures
• Use the calculator to estimate returns
• Enter your investment amount (minimum ₹1,000)
• Choose payout mode (at maturity, monthly, or quarterly)
• Select maturity preference (refund or reinvest)

For your first investment with a bank, you’ll need to complete a one-time KYC. This includes PAN, Aadhaar verification, basic details, and nominee information.

You’ll also need to verify your mobile number via OTP and add your bank account (via UPI or account details).

After payment, a short video KYC needs to be completed within three days. Once verified, your FD is booked, and confirmation is shared.

For future investments with the same bank, this process is skipped, making it much faster.

You can also watch this video for a walkthrough.

A few things to know

Tracking: All your fixed deposits are visible in one place on Coin. You can see the total amount invested, accrued interest, and upcoming maturities without tracking each FD separately across banks.

Auto-renewal: You can choose to renew your FD automatically at maturity. We’ll notify you in advance so you can review or change this preference before it’s executed.

Premature withdrawal: You can withdraw your FD before maturity if needed. The applicable penalty, based on the bank’s terms, is shown upfront so there are no surprises.

Senior citizen rates: If you’re eligible, higher interest rates are automatically shown and applied based on your PAN details.

Taxes (TDS): Interest earned on FDs is taxable as per your income tax slab. TDS is deducted by banks if interest exceeds ₹40,000 (₹50,000 for senior citizens) in a year. Since TDS is calculated per bank, you’ll need to report total interest across all FDs while filing returns. Tax details and certificates will be available for reporting.

You can learn more about FDs on Coin by visiting FAQs for Fixed Deposits (FDs).

Disclaimer: Fixed Deposits (FDs) are not exchange traded products. Zerodha Broking Ltd. acts solely as a distributor for FDs and such products. Any disputes with respect to such services will not have access to SEBI SCORES/ODR, Exchange Investor Grievance Redressal Forum, or Arbitration mechanism.