Fixed Deposits

Fixed Deposits

fixeddeposit

A Fixed Deposit (FD) offers to act of depositing a lump sum of money for a specified duration (tenure) at a predetermined interest rate, which provides higher and guaranteed returns compared to a savings account. The interest rate is subject to change depending on the duration of the deposit.

Features of Fixed Deposits

  • Payment of interest at monthly/Quarterly basis as per your requirement
  • Change of interest rate will not be affected during the contract period
  • Senior citizens get 0.5% extra interest
  • Period 15 days to 10 years
  • Any amount can be deposited
  • Loan against deposit up to 85% of the deposit amount
  • Nomination facility is available.
  • Premature withdrawal is allowed and interest at a discounted rate will be paid.
  • TDS on interest will be applicable if form 15G/15H not submitted.
  • An automatic renewal facility is available on request at the time of deposit.

Documents Required for Fixed Deposit

  • Aadhar/Passport/Voter Id/Driving Licence
  • PAN Card
  • PP size photograph 3 copies

Deposit Schemes Available For

  • Individuals
  • Societies
  • Others
  • Single & Joint Deposits

Interest Rates of Fixed Deposits

Period of deposits Interest Rate
Individuals & Others Senior Citizens
15 days to 45 days 5.50% 6.00%
46 days to 90 days 6.00% 6.50%
91 days to 179 days 6.50% 7.00%
180 days to below 1 year 7.25% 7.75%
1 year to below 3 year 7.75% 8.25%
3 year and above 7.80% 8.30%

Interest Rates of Fixed Deposits of Co-Op. Institutions

Period of deposits Co-operative Institution
15 days to 45 days 5.50%
46 days to 90 days 6.00%
91 days to 179 days 6.50%
180 days to below 1 year 7.25%
1 year to below 3 year 7.75%
3 year and above 7.80%

Revised Interest Rate of NRE Fixed Deposits

Period of deposits Interest Rate On NRE
1 year to below 3 years 7.75%
3 years to 10 years 7.80%

Revised Interest Rate on Bulk Deposits

Individual (Domestic)
Minimum amount 15,00,000/- or above (Single Deposit) Period 12 Months only Interest Rate 8.00%
Individual (NRE)
Minimum amount 15,00,000/- (Single Deposit) Period 12 Months only Interest Rate 8.00%

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