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 | 12.00% | 11255 | 12.5% | 11309 |
18 Months | 12.00% | 11940.52 | 12.5% | 12027.73 |
24 Months | 12.5% | 12790 | 12.5% | 12790 |
36 Months | 12.5% | 14460 | 12.5% | 14460 |
48 Months | 12.5% | 16360 | 12.5% | 16360 |
60 Months | 12.5% | 18500 | 12.5% | 18500 |
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.