DCB Bank is looking to acquire customers through its ‘Zippi’ online fixed deposit scheme. This allows even non-DCB account-holders to start a fixed deposit, anywhere, anytime.

Since the launch of this product in May this year, 20 per cent of the leads for the bank has come from non-DCB customers.

Speaking to BusinessLine , Praveen Kutty, Head (Retail and SME Banking), DCB Bank, said this online platform helps individuals park their surplus funds from the comfort of their homes at the click of a button. “No paperwork is involved and the amount starts fetching interest from Day 1, even before the bank sends someone to pick up the documents. The funds can be transferred online.”

However, only resident Indians who have completed 18 years and have a Permanent Account Number (PAN) will be eligible to take advantage of this offering, he said.

The FD account-holders will receive the interest and maturity amounts in their existing bank accounts in other banks, he explained.

The minimum FD investment is ₹10,000 and the maximum ₹10 lakh.

The enquiries, Kutty said, were more from places where the bank did not have a branch, indicating the need for reaching out to such customers.

The bank has tied up with multiple couriers for picking up the documents (such as PAN card copy and FD application form) from the customer’s doorstep at a convenient time, free of cost.

To a query on the response to the offering, he said: “It is positive, but the ticket size is small. Customers are testing the waters before making bigger commitments.”

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