Fixed Deposit

Overview of the fixed deposit.

A fixed deposit is an investment option offered to customers by financial institutions such as banks and NBFCs. Money deposited is kept by the financial institution for a defined tenure. In exchange, the financial institution pays the customer interest for the tenure of the fixed deposit. This interest can either be paid at maturity or at specified time intervals.



To open a fixed deposit using ZWITCH APIs, the applicant should have already created a savings or current account using ZWITCH.