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Fixed Deposit Scheme

A fixed deposit (FD) scheme is a financial instrument provided by banks or NBFCs which provides investors with a higher interest rate than a regular savings account, until the given maturity. It may or may not require the creation of a separate account.

FD Scheme for Senior Citizen

Tenure Minimum Investment Monthly Return Quarterly Return Cumulative Return FD Prime
6 Months 100000 9.99% 9.99% 10.50% 10.50%
12 Months 50000 10.25% 10.25% 10.75% 11.00%
24 Months 50000 10.75% 10.75% 11.50% 11.75%
36 Months 50000 10.99% 10.99% 11.99% 12.25%
48 Months 50000 11.25% 11.25% 12.25% 12.45%

FD Scheme for Regular Citizen

Tenure Minimum Investment Monthly Return Quarterly Return Cumulative Return FD Prime
6 Months 100000 9.25% 9.25% 9.99% 9.99%
12 Months 50000 9.75% 9.75% 10.25% 10.50%
24 Months 50000 10.25% 10.25% 10.99% 11.25%
36 Months 50000 10.75% 10.75% 11.50% 11.75%
48 Months 50000 11.00% 11.00% 11.99% 12.25%

Terms & Conditions:-

  • Minimum FD would be of Rs.1,000 and further in multiples of Rs.1,000.
  • Interest calculation quarterly compound.
  • No TDS deducted on interest.
  • Loan available against deposit up to 70% of deposited amount after one month from the date of deposit.
  • Rate of Interest on loan against FD would be higher than banks.

Pre Mature Closure Of Deposits:-

Fore closure of deposits will not be permitted until completion of 3 months from the date of Deposits. No interest will be paid for deposits foreclosed after 3 months but before 6 months from the date of deposit. For Deposits foreclosed after 6 months, interest at 2% shall be deducted from the normal rate of Simple Interest for the period of Deposit.