Fixed deposits (FDs) have long been a reliable investment avenue, offering a secure way to grow your savings. As your FD matures, the decision to renew becomes pivotal. This is where FD auto-renewals come in —a seamless, hassle-free process that effortlessly extends your investment, ensuring your funds consistently accrue interest.

Methods of Renewal of a Fixed Deposit

Renewing your FD is a straightforward process. Here are common methods:

  • Visit the Bank or NBFC’s Office

A traditional yet effective method is visiting the FD issuer’s office in person. Speak to a representative who will guide you through the renewal process and provide the necessary forms.

  • Online Renewal

Many issuers offer online facilities for FD renewal. Log in to your account, locate the FD section, and follow the steps to renew your deposit digitally.

  • Mobile Apps

If your bank or NBFC has a dedicated mobile app, check for FD renewal options. Most apps provide a user-friendly interface for managing your deposits on the go.

What Happens When You Forget to Renew an FD?

Forgetting to renew your FD can lead to a few scenarios:

  • FD Auto-Renewal (If Opted)

If you have opted for auto-renewal, your FD will automatically renew for the same tenor at the prevailing interest rates. This ensures your funds continue to grow without any disruption.

  • Conversion to Savings Account

In some cases, if you forget to renew and haven't opted for FD auto-renewal, the matured FD amount may be transferred to a savings account.

Benefits of Auto-renewal of FD

Seamless Continuity

Auto-renewal ensures your funds continue to earn interest without manual intervention, providing a seamless and uninterrupted investment experience.

Optimisation of Returns

By auto-renewing, you take advantage of prevailing interest rates, optimising your returns for the extended tenor.


Eliminate the need for constant monitoring and manual renewal efforts. Auto-renewal simplifies the process, making it convenient for busy investors.


Save time by avoiding the manual paperwork and administrative tasks associated with the renewal process. Auto-renewal streamlines the entire procedure, allowing you to focus on other priorities.

Flexible Tenor Options

Enjoy flexibility in choosing the renewed tenor. Auto-renewal often allows you to explore different timeframes based on your evolving financial goals and requirements.

Interest Compounding

Benefit from compounded interest as your renewed FD continues to grow over time. This can result in a more substantial financial gain compared to opting for manual renewal at each maturity.


Can I change the tenor or amount during FD renewal?

It depends on the issuer’s policies. While some issuers allow changes during renewal, others may require you to prematurely withdraw the deposit and book a new FD.

Is there a penalty for delayed renewal?

Issuers may impose penalties for delayed renewal. It's advisable to check the FD issuer policies and renewal timelines to avoid any additional charges.

Can I renew my FD after the maturity date has passed?

Yes, many issuers offer a grace period after the maturity date for renewal. However, it's essential to act promptly to avoid any potential penalties.

Can I choose a different tenor or interest payout frequency during renewal?

This depends on the issuer’s policies. Some may allow changes during renewal, while others may require premature withdrawal and a new deposit.

Earn interest up to 8.60% p.a. by investing in a Bajaj Finance FD | Rated CRISIL AAA/ STABLE and [ICRA]AAA(stable) Invest Now
Loan Offer
Download App
Credit Score