Fixed Deposit
Bank Fixed Deposits, also known as Term Deposits, allow you to deposit a specific sum of money in a bank for a fixed tenure at a redetermined rate of interest. The interest rate depends on the chosen maturity period, with longer periods typically offering higher rates.
Key Features:
- Maturity Period: Flexible, ranging from 15 days to 10 years.
- Interest Payment Options: Monthly, quarterly, half-yearly, or annually.
- Deposit Limits: Minimum ₹1,000; no upper limit.
- Loan Facility: Loan or overdraft facility available against FDs.
- Premature Withdrawal: Allowed but subject to loss of interest.
- Automatic Renewal Scheme: Upon maturity, Fixed Deposits are now eligible for Automatic Renewal under the same terms and conditions (unless specified otherwise), ensuring uninterrupted earnings for account holders.
Eligibility
FD accounts can be opened by:
- Individuals (single or joint accounts).
- Co-operative Societies, Registered Trusts, Institutions, and Associations.
- Natural guardians (father or mother) on behalf of minors.
MINIMUM DEPOSITE
1000/-
INTEREST RATE (Effective form 01/05/2025)
| Tenure | Interest Rate |
|---|---|
| 07 to 30 days | 3.50% |
| 31 to 90 days | 5.00% |
| 91 to 179 days | 5.50% |
| 180 to 364 days | 6.00% |
| 1 year to below 3 years | 7.00% |
| Above 3 years to below 5 years | 7.00% |
| Above 7 years | 6.25% |
Take advantage of our Automatic Renewal Scheme for effortless savings and uninterrupted returns!
Additional interest @ 0.50% for Senior Citizen limited to term deposits (Fixed deposits) for one year and above.
ELIGIBILITY
Accounts can be opened by:
- Individuals (single or joint accounts).
- Co-operative Societies, Registered Trusts, Institutions, and Associations.
- Natural guardians (father or mother) on behalf of minors.
