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.
Fixed Deposits
| Amount |
1 Year - 10.50% |
2 Year - 11.50% |
3 Year - 12.00% |
|
10000
|
11250 |
12433 |
14050 |
|
50000
|
55250 |
62162 |
70247 |
|
100000
|
110500 |
124323 |
140493 |
|
500000
|
552500 |
621613 |
702464 |
|
1000000
|
1105000 |
1243225 |
1404928 |
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Terms and conditions :
1. A minimum FD would be of Rs.1000 and further in multiple of Rs.1000.
2. Interest calculation yearly compound.
3. Loan available against deposit up to 70% of deposited amount after one month from the date of deposit.
4. Rate of interest on loan against FD would be 9% higher than applicable rate of interest to your deposit.
