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A fixed deposit, popularly known as an FD, is an investment system largely offered by banks, as well as non-banking financial companies (NBFC) to support their customers for saving money. It is a very beneficial system in fixed deposits, wherein you can invest a sizeable amount of money at a pre-fixed rate of interest for a fixed period.

In a Fixed Deposit, a customer has to put an amount according to the minimum and maximum limit of his bank for a fixed tenure at an agreed rate of interest. At the end of the tenure, the customer receives the amount he has invested plus compound interest. FDs are also called term deposits.


BENEFITS OF FIXED DEPOSITS

The main advantage of a fixed deposit is that it offers guaranteed returns. The rate of interest offered to a customer when he opens a FD remains fixed throughout the tenure. Despite changes in the market scenario the interest rates pre-decided for FD remain the same. So, a customer need not worry about the upheavals in the economic arena.

A customer can easily open an FD in the bank in which he has a savings account. After opening a Fixed deposit, a client doesn’t have to worry about it till it matures. He or she can also give maturity instructions for automatic renewal or get the maturity amount credited directly to his account. If a customer selects a fixed deposit plan with a reinvestment option, you will benefit from compound interest.

Normally people who want to have a regular income from their savings go for fixed deposits so that the interest which is deposited in their account gives them comfort and security


Period
Cumulative
At Maturity
(%p.a.)
12-23 months5.85
24-35 months6.60
36-60 months7.20
15 month6.05
18 months6.15
22 months6.30
30 months6.70
33 months6.95
44 months7.35
Non-Cumulative
Monthly Quaterly Half yearly Annula
5.70 5.73 5.77 5.85
6.41 6.44 6.49 6.60
6.97 7.01 7.08 7.20
5.89 5.92 5.96 6.05
5.98 6.01 6.06 6.15
6.13 6.16 6.20 6.30
6.50 6.54 6.59 6.70
6.74 6.78 6.83 6.95
7.11 7.16 7.22 7.35
Period
Cumulative
At Maturity
(%p.a.)
12-23 months6.10
24-35 months6.85
36-60 months7.45
15 month6.30
18 months6.40
22 months6.55
30 months6.95
33 months7.20
44 months7.60
Non-Cumulative
Monthly Quaterly Half yearly Annula
5.94 5.97 6.01 6.10
6.64 6.68 6.74 6.85
7.21 7.25 7.32 7.45
6.13 6.16 6.20 6.30
6.22 6.25 6.30 6.40
6.36 6.40 6.45 6.55
6.74 6.78 6.83 6.95
6.97 7.01 7.08 7.20
7.35 7.39 7.46 7.60

Exciting Update! Fixed Deposit rates are revised upwards w.e.f June 14,2022.Now start investing and earn higher returns of up to 7.60% p.a. T & C apply . To check the latest Fixed Deposit interst rates click here

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