Rajith-eFD is nothing but a normal FD which you creates using your net banking facility. I suggest to create eFD to keep your emergency fund. Because with the click of button, you can liquidate it. The amount will be in your savings account. For banks, it acts exactly like typical FDs. So the rules and regulations will be same as that of typical FDs. But the advantage over other FDs is the LIQUIDITY. You have to create manually but can’t transfer automatically into eFDs.