FAQs for Fixed Deposits on Coin

How do I start investing in FDs through Coin?

You can start investing in FDs by logging in to your Coin account, navigating to the FD section, selecting your preferred bank (Suryoday Small Finance Bank or Unity Small Finance Bank), choosing your investment amount and tenure, completing the KYC process, and making the payment.

What is the minimum investment amount for FDs?

You can invest a minimum of ₹1,000 for both Suryoday and Unity Small Finance Banks. You can invest in multiples of ₹1.

Which banks are available for FD investments?

You can choose from:

• Suryoday Small Finance Bank
• Unity Small Finance Bank

Where can I track my FD investments?

You can track your FD investments made via Coin under the Fixed Deposits tab on the Coin platform. You can view all your FDs in the My Transactions section with details like:

• Investment amount and maturity value
• Current status (Active/Pending VKYC/Matured)
• Interest earned and maturity date

Will my FD be linked to my Zerodha account?

Currently, you can track FD investments only on Coin. In the future, we will bring FD investment details to Console as well for better tracking.

What documents do I need for KYC?

You need:

• Valid PAN card
• Aadhaar card
• Bank account details
• Aadhar linked phone number (for Aadhaar validation)

My name differs slightly on PAN and Aadhaar. Will KYC fail?

Our system uses advanced name-matching technology. Minor variations like surname/first name interchanges are usually accepted if there's at least 80% name match. However, significantly different names may cause KYC failure as per banking compliance requirements.

Can I invest if I'm below 18 years?

Yes, minors can invest in FDs with a guardian acting as custodian. The guardian will need to complete the KYC process.

What is Video KYC (VKYC) and when is it required?

Video KYC is a regulatory requirement where a bank representative verifies your identity through a video call. You must complete it within 3 working days of payment for all FD investments.

What happens if I don't complete VKYC within 3 days?

If you don't complete VKYC within 3 working days, your FD will be marked for refund, and the invested amount will be returned to your account.

Can I link any bank account for payments?

For security and regulatory compliance, you can only link and make payments from bank accounts that belong to you. Third-party accounts are not permitted.

What payment methods are available?

You can pay via:

• UPI
• Net Banking
• QR Code scanning

Can I pause and resume my investment process?

Yes, if you exit the process midway, you can resume from where you left off. Look for the Resume Journey option on your dashboard or check the transaction section to complete pending VKYC.

When does my FD tenure start?

Your FD tenure begins once the bank successfully validates your VKYC, not from the transaction initiation date.

Are the interest rates displayed final?

Yes, the interest rates shown during investment are final and guaranteed for your tenure. We update rates regularly based on bank notifications.

Do senior citizens get higher interest rates?

Yes, senior citizens (60+ years) get an additional 0.4% interest rate benefit on Suryoday FDs and 0.5% on Unity FDs.

Do women get special interest rates?

Special women benefit rates are available only for specific Shriram FD products. The system automatically applies applicable benefits based on your KYC details.

How is interest calculated and paid?

Interest is calculated annually and compounded. For most FDs, interest is paid at maturity along with the principal amount.

Can I withdraw my FD before maturity?

• Suryoday Bank: You can withdraw prematurely after 7 days with penalty charges
• Unity Bank: You can withdraw prematurely after 7 days with penalty charges
• Tax Saver FDs: You cannot withdraw prematurely (5-year lock-in)

What are the penalty charges for premature withdrawal?

Penalty varies by bank and tenure, typically 1% reduction in the applicable interest rate.

Can I change my nominee after investing?

Yes, you can change nominees after investing in FD.

Can I modify maturity instructions (like auto-renewal)?

This feature is under development and will be available soon for Suryoday Bank FDs.

What is a Tax Saver FD?

Tax Saver FDs offer tax deductions under Section 80C with these features:

• Investment limit: ₹1,000 to ₹1.5 lakh per financial year
• Lock-in period: 5 years (no premature withdrawal)
• Tax benefit: Only on principal amount (interest is taxable)
• Auto-renewal: Not available

Can I file for TDS exemption?

Yes, you can file TDS exemption online for Suryoday Small Finance Bank FDs through our platform.

How is TDS calculated on FD interest?

TDS is deducted if interest exceeds ₹40,000 in a financial year (₹50,000 for senior citizens). The rate is typically 10% or as per your PAN status.

I'm getting an "Internal Server Error" during the process. What should I do?

This usually indicates a temporary technical issue. Please try again after a few minutes. If the problem persists, contact our support team with your mobile number and transaction details.

My payment failed, but money was debited. What happens next?

Failed payments are automatically refunded within 5-7 working days. You can retry the investment with an alternative payment method.

I can't see the Resume Journey option. How do I complete my pending investment?

Check your transaction section for pending VKYC. You can initiate VKYC from there. If unavailable, contact support for assistance.

I haven't received SMS OTP for login. What should I do?

OTP delivery may sometimes be delayed. Wait for 2-3 minutes and try resending. If the issue persists, check if your number is registered correctly and contact support.

Can I have multiple FD accounts?

Yes, you can create multiple FDs across different banks and tenures. Each FD is treated as a separate investment.

Can I use my FDs as collateral for margin trading?

Currently, you cannot pledge FDs as collateral margin. This feature might be considered in future versions of the product.

Will my FD be linked to my Zerodha account?

No, FDs will not be linked to your Zerodha account. FDs are created through banking channels and operate independently. However, you can track your FD investments on the Coin platform for consolidated portfolio monitoring.

Why are my FD investments not visible on Console?

Currently, FD investments are not displayed on Console as they represent a different investment category with fixed interest rates, separate from equity and mutual fund investments. You can track FD investments on Coin, and this feature will be added into Console in the future.

Can I invest using someone else's UPI ID if it's linked to my bank account?

No, third-party payments are not allowed. The payment will fail if the bank account linked to your FD investment does not match the account used for payment. You must use your own UPI ID and bank account for FD investments.

Can I transfer my existing bank FD to the Coin platform?

No, you cannot transfer existing bank FDs to the Coin platform. You would need to close your existing FD (subject to bank terms and penalties) and create a new FD investment through Coin if you wish to track it on the platform.

Why is there only one payout mode available?

The available payout modes are determined by the partner banks and regulatory requirements. Currently, the platform offers the most commonly used payout option.

Can I transfer my FD?

No, you cannot transfer FDs. As per regulatory guidelines, FDs are non-transferable investments tied to the original investor's KYC and banking details.

Who can invest/create an FD through Coin?

Anyone with an active Zerodha trading and demat account can invest in FDs through the Coin platform. You must complete your KYC requirements and have a linked bank account for seamless investment processing.

Why is a separate OTP verification required before investing in FDs?

Zerodha has partnered with Blostem, a third-party platform, to offer FDs. A separate OTP is required to log in securely to Blostem.