[Beta] Introducing Fixed Deposits on Coin (FD)

Zerodha Feature Announcements
1

While the investor base in Indian markets has grown significantly since 2020, majority of the Indian households still prefer Fixed Deposits (FDs) as their primary investment option. And it makes sense, FDs offer guaranteed returns, zero market risk, and the kind of predictability many find reassuring, especially when compared to the volatility of stock markets.

Given this, we’ve now started offering FDs as an investment portion on Coin.

We have two banks live to start with:

  • Suryoday Small Finance Bank which offers interest rates of up to 8.80%
  • Unity Small Finance Bank which offers interest rates of up to 8.25%

How to invest in FDs on Coin?

  • Visit Coin – Zerodha
  • Click on Invest, and you will be redirected to the Coin FD page.

  • Browse through available banks and their offerings
  • Compare interest rates across different tenures
  • Select your preferred bank and tenure
  • Enter investment amount (minimum ₹1,000)
  • Review the maturity value and interest earned
  • Click on Let’s Get Started
  • You’ll be redirected to the FD login flow
  • Login using your number (we will see if kite connect handshake using Client ID is required)

  • Complete KYC (KYC includes)
    A. Updating Pan Details
    B. Aadhar authentication
    C. Bank details updation
    D. Adding Nominee
    E. 2 FA authentication (Email & SMS otp verification)

  • Confirm your investment & Complete the payment

  • Upon successful payment, complete the video KYC

  • Receive confirmation on successful FD booking

Things we are working on improving and we are aware are currently an issue

  1. Separate login on Blostem - You’ll need to create an account there. No single sign-on yet.
  2. KYC again - Even if we have your KYC, banks need their own verification. It’s all online, though.
  3. No dashboard view yet - You can’t see your FDs in Coin’s dashboard. Coming soon.
  4. Money flow - You can pay from any account, but maturity proceeds go to the bank account linked with Blostem (matching your PAN).

Features we’re working on

  • FD holdings in your Coin dashboard
  • Maturity alerts (so you don’t forget)
  • Auto-renewal options
  • More banks
  • Better integration so you don’t need separate logins

We decided to skip NBFC FDs for now. Banks come with deposit insurance up to ₹5 lakhs, giving you that extra safety net.

If you are facing any issues, check out these articles. If you have any feedback, do let us know in the comments.

12 Likes
3

Can we pledge the FD investment for extra margin? If yes, what will be the rate cut?

1 Like
4
  1. Will this create a savings account with the respective banks?
  2. Is premature withdrawal available 24/7?
  3. How long will it take to get money in your bank in case of premature withdrawal?
1 Like
5

This is not possible as of now.

  1. No, it won’t create a bank account.
  2. Premature withdrawal is available in all the FDs after a 7 day lock-in. Tax savings FD are now allowed for premature withdrawal.
  3. You can place the withdrawal any time, the amount will be credited to your bank account max by T+1 day.
6

Available for NRIs?