SBI warns its customers to beware of online fixed deposits fraud

India's largest lender State Bank of India (SBI) has warned its customers against social engineering frauds where cybercriminals are reported to have created online fixed deposits (FD) in customers' accounts.

The bank said on Twitter that "We urge our customers not to share their banking details with anyone. Don't fall for scammers impersonating as SBI, we never ask for personal details like Password/OTP/CVV/Card Number over the phone".

SBI with the help of Twitter informed its customer about this new kind of cyber fraud where fraudsters are using victim's online FD account to siphon off money.

We urge our customers not to share their banking details with anyone. Don't fall for scammers impersonating as SBI, we never ask for personal details like Password/OTP/CVV/Card Number over the phone.

Be alert. Be safe.#CyberCrime#CyberSafety#OnlineFraud#BankFraud#Scampic.twitter.com/0Td4cp54VE

— State Bank of India (@TheOfficialSBI) April 5, 2021

Here's how you can open SBI fixed deposit (FD) online:

-Log in to SBI net banking by providing personal details.

-From the fixed deposit option, click one-TDR/e-STDR (FD). Now, click on proceed. TDR is a term deposit, while STDR is Special Term Deposit.

-Proceed to choose the type of FD you want to open and click ‘Proceed’.

-If you have multiple bank accounts, then choose the account from which money has to be debited.

-Also choose the FD principal value and fill the same in the ‘Amount’ column.

-Now, choose the tenure of deposit— days, year/months/days, or maturity date.

-Now choose maturity instruction for your term deposit account.

-Click on terms and conditions and then submit.

-Your FD with details (name, nominee, etc) will appear on the screen. Click 'OK.

-Please note the transaction number for future reference. You can take out a print or save it as a PDF by clicking on the respective options.