Fixed Deposits
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Benefits And Features
Here is a quick list to tell you why FD is the ideal investment option:
Safety of your funds with fixed return.
Assured returns on your investment.
Loan against FD - Avail of a loan facility up to 90% of principal and accrued interest. Loan against the fixed deposit maybe given to the depositors at the discretion of the Bank.
Instant liquidity - Get an overdraft against your FD or opt for partial withdrawal.
Designed for convenience – Invest anytime, anywhere.
Competitive interest rates. Investment starts with as low as just ₹10,000 across flexible tenures to suit your needs, from seven (7) days to up to ten (10) years.
Types Of Fixed Deposits
- Regular Fixed Deposits
- Simple investment product which offers safety, liquidity, flexibility and assured returns.
- FD can be opened for minimum amount of ₹10,000.
- Choose from flexible tenure ranging from seven (7) days to ten (10) years
- Overdraft (OD) against FD up to 90% on principal plus accrued interest
- Option of premature/partial withdrawal for urgent funds requirement
- Minimum balance in the Savings/Current Account should be ₹15,000 to generate a linked FD request.
- The linked FDs will be under the same Customer ID and will be for a minimum tenure of 1 year for Savings Account customer.
- All FDs linked to the account will be enabled for automatic reverse sweep when the balance in the Savings Accounts falls below ₹10,000 for individual customers.
- FDs will be broken in Last-In, First-Out (LIFO) basis for reverse sweep.
- The Fixed Deposit will be opened in auto renewal mode. The deposit will be renewed for the same tenure as the original tenure.
- The interest rate on such Fixed Deposit will be the rate applicable for the respective period, prevailing as on the date of such auto renewal
- Invest as small as ₹10,000
- Fixed tenure of five years
- Get tax deduction up to ₹1,50,000 under Section 80C*
- Flexible interest payout – monthly, quarterly or reinvestment in principal
- No premature withdrawal and auto-renewal facility
- Interest earned is taxable