SIB Quick FD: A Newly Launched Digital Fixed Deposit

Fixed Deposits are popular as safe and reliable investment options for the majority of Indians. However, booking a traditional FD can be time-consuming. To make it faster and more convenient, South Indian Bank has introduced SIB Quick FD—a fully digital service that lets you open an FD using UPI, without needing an existing bank account. 

Read to learn all about the benefits of SIB Quick FD that you can avail in 2025. 

What Is SIB Quick FD?

SIB Quick FD is a fully digital FD option of South Indian Bank that allows anyone to open an FD without needing a savings account with the bank. The process is 100% paperless, takes just 5 minutes and can be completed entirely online. Customers can fund their FD easily using UPI, making it a fast and hassle-free investment option.

Eligibility Criteria to Apply for SIB Quick FD 

Here is a list of some of the eligibility criteria that need to be met before applying for SIB Quick FD:

• An individual needs to be at least 18 years old. 
• They should be a resident of India.
• It is required of an applicant to not have opened an account prior to using OTP based KYC in any other bank. 
• They should not be reportable under CRS and FATCA.
• The person should not be a person who is politically exposed (PEP) or even hold a prominent position in the government. 

Key Benefits of SIB Quick FD 

Here is a list of the benefits which you can avail when opting for SIB Quick FD:

• Get to Open an FD Instantly

With the help of Quick FD, you can get done with transactions instantly. You are not even required to visit a branch to open an FD with this scheme. South Indian Bank now aims to provide a very seamless process when it comes to the opening of FDs. You can easily track your FD transactions or even close the account online.

• Requires Minimal Documentation

Unlike traditional FDs that require multiple documents, Quick FD only requires 2 essential documents, your Aadhaar and PAN. You can enter both your Aadhaar and PAN card number online for a more smooth verification. This will speed up the activation of your account.

• Needs Minimal Investment

Traditional FDs require a bigger amount of investment as compared to SIB Quick FD. You can avail a SIB Quick Fixed Deposit by making just a minimal investment of ₹1,000. This proves to be ideal for people who are first-time or young investors looking to diversify their portfolios.

• Does Not Require a Savings Account

Unlike the traditional form of FDs, it does not require an individual to have a pre-existing account with the bank. This helps in reaping the benefits of having an FD without the extra commitment of handling a savings account.

• Access SIB Quick FD Conveniently

You can choose to open a Quick FD from anytime, anywhere. There is no need for you to think about banking hours as the Quick FD feature of SIB is accessible 24x7. Enjoy the flexibility of being able to access your FD according to your convenience.

Final Word 

Investing in a SIB Quick FD enables you to get better benefits than a traditional FD. It provides you the flexibility along with the accessibility to track it from anywhere you want. Hence, in today’s digital world getting a SIB Quick FD is a feasible option to consider when going for investing in banking schemes.

You can also get FDs through Stable Money to get similar benefits like convenience, higher interest rates, 24x7 accessibility and a convenient customer service facility. So why wait? Get our app today to enjoy high-yielding FD income at your convenience.