The FIXED deposit account is an account in the bank where an investor deposits a fixed amount of money for a fixed tenure (mostly ranging from one year to five years). This scheme is meant for investors who want to deposit a fixed amount , in order to get a lump sum after some years. The small monthly savings in the FIXED Deposit scheme enable the depositor to accumulate a handsome amount on maturity. Interest at term deposit rates is computable on quarterly compounded basis. The account can be opened by individuals.
| TENURE | RATE OF INTEREST | MATURITY AMOUNT | SPECIAL RATE OF INTEREST | MATURITY AMOUNT |
|---|---|---|---|---|
| 12 Months | 9.50% | 109843 | 9.75% | 109750 |
| 24 Months | 10.00% | 121000 | 10.25% | 121550 |
| 36 Months | 10.50% | 134924 | 10.75% | 135841 |
| 48 Months | 11.00% | 151807 | 11.25% | 153179 |
| 60 Months | 11.50% | 172335 | 11.75% | 174276 |
1. Minimum FD would be of Rs.5000/-and further in multiple of Rs.100/-.
2. Interest will be calculated Quarterly via compound interest.
3. TDS will be deducted on Interest.
4. Loan against deposit is up to 75% of deposit amount after 6 months.
5. Rate of interest on loan against FD would be 7.5% higher the applicable rate of interest.
6.Special Rate of Interest will be apply only Senior Citizen,Womens,physical handicap,and Minor childrens.
