Fixed Deposit Scheme

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

(Following table shows On Deposit of Rs 10000)

Period Rate of Interest (P.A.) Maturity Amount
12 Months 9.00% 10900/-
24 Months 9.50% 11975/-
36 Months 10.00% 13154/-
48 Months 10.75% 14590/-
60 Months 11.75% 16272/-

Terms & Conditions

  • Interest calculation on banking system, rates are subject to change and can be revised from time to time
  • Minimum Fixed Deposit would be Rs.1000 per month and multiple rs.100
  • KYC is mandatory and Joint policy holder are allowed
  • Loan available against deposit up to 70% of deposited amount after one month from the date of deposit.

Pre Mature Closure Of Deposits

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