BankBazaar Launches Paperless Applications For Fixed Deposits

By Bank Bazaar | March 20, 2017

BankBazaar Launches Paperless Applications For Fixed Deposits

BankBazaar.com, the Personal Finance marketplace backed by Amazon, has launched a paperless application process to open Fixed Deposits. This is in keeping with the company’s focus on simplifying the application process across a variety of financial products.

Fixed Deposits are the simplest investment products for customers. Now with a paperless application process, customers can easily invest in Fixed Deposits online by comparing rates across banks on BankBazaar.com’s one-stop platform and choosing the best ones.

Additional Reading: Why Paperless?

The introduction of paperless Fixed Deposit applications allows customers two convenient options for document verification. Customers can either upload scanned identity documents for verification or opt for eKYC through Aadhaar authentication. Customers can invest in Fixed Deposits online through netbanking or using a Debit Card.

Additional Reading: All About The Paperless Initiative

Adhil Shetty, Founder & CEO, BankBazaar.com says, “This is a milestone innovation that will have a long-term impact on FD in India.” Ajit Narasimhan, Category Head – Savings & Investments, BankBazaar.com adds, “We believe Fixed Deposits are an evergreen investment option for Indian retail customers. By making this product consumable in a paperless and instant manner, BankBazaar.com has made the investment experience frictionless for Indian consumers.”

Additional Reading: Paving The Way For Paperless Transactions – Adhil Shetty On Demonetisation

This is yet another firm step in BankBazaar.com’s objective to help simplify financial planning for customers as part of the company’s larger mission to enable people to access the right financial products.

Additional Reading: Falling Interest Rates Affecting Your Fixed Deposits?

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