Fixed Deposit – Get Information about FD in India, Compare Fixed Deposits, FD India, Fixed Deposit Documents, Fixed Deposit Eligibility, Bank Fixed Deposit SBI, ICICI, HDFC etc.
Fixed deposit is a privilege provided by banks for investing money. Various banks provide the term deposits and fixed deposit is one of them. Many people deposit there money, reason being the high returns and low risk factor. This is a popular choice of investment amongst Indians because the interest rate is fixed for whole maturity period and almost no risk factor involved.
In all, it accounts for more than a crore accounts in India. One can deposit money for a short period of time as 7 days and upto 10 years. The amount is deposited at the initial stage only. In India, most of the banks provide a credit card or loan against FD which again accounts for more & more people opting for Fixed Deposits.
People are more and more reliable on FD’s when compared to investing in mutual funds and stock market directly.
Fixed Deposit Benefits
- The Interest can be compounded quarterly, half-yearly or annually and varies from bank to bank.
- Flexible maturity date, i.e one can choose the time period to deposit the money (6 months to 10 years)
- Assured Returns.
- One can get loan up to 75-90% of the deposit amount from banks against FD receipts.
- Minimum deposit amount is Rs.1000/- and there is no upper limit.
- It’s a myth amongst depositors than withdrawal of money is not possible before it’s complete maturity time period. This is not true. Fixed deposits also provide liquidity to the depositors.
- Residents of India can open these accounts for a minimum of 3 months.
- For senior citizens, it is beneficial since it requires the regular cash flow with minimum risk involved.
- Many banks offer the facility of automatic renewal of FDs where the customer’s do give new instructions for the matured deposit.
How to open a Fixed Deposit Account
- Depositing money in fixed deposits is as simple as opening a savings account with bank of your choice.
- You just simply need to have a In-depth knowledge of the benefits. Different banks are providing.
- It’s your decision to put your money in the safest avenue possible.
- Almost all the banks today, provide the service of online opening of fixed deposit account.
- One can choose between the banks with best interest rates, further, Provide particular bank with details or can get the application form online or offline (You can download the application form from the lender’s website or you can collect the form from their branches).
- Latest PASSPORT SIZE PHOTOGRAPH.
- Certified copy of IDENTIFICATION PROOF.
- Certified copy of ADDRESS PROOF.
- Certified copy OF PROOF OF SIGNATURE.
(**The documents required may vary from bank to bank.)
Fixed Deposit Interest Rates
- FD interest rates offered by banks vary by FD tenure and from time to time.
- While banks offer FD rates based upon market liquidity and RBI policy, the rates are not the same across all banks.
- Even among PSU banks, rates tend to vary and hence it is advisable to check all FD rates before booking an FD.
- Banks also offer special schemes from time to time, which typically offer higher rates for select maturities.
List of Banks
|List of Banks|
|SBI||Indian Bank||Canara Bank|
|HDFC Bank||Indian Overseas Bank||Central Bank of India|
|ICICI Bank||Oriental Bank of Commerce||Dena Bank|
|AXIS Bank||Punjab National Bank||Punjab & Sind Bank|
|Kotak Bank||Syndicate Bank||UCO Bank|
|IDFC Bank||Allahabad Bank||Union Bank of India|
|Bank of Baroda||Andhra Bank||Vijaya Bank|
|Corporation Bank||Bank of India||United Bank of India|
|IDBI Bank||Bank Of Maharashtra||Jammu and Kashmir Bank|
|Lakshmi Vilas Bank||South India Bank||Development Credit Bank|
|CitiBank||Karur Vysya Bank||DBS Bank|
|HSBC Bank||RBL Bank||Dhan Laxmi Bank|
|Karnataka Bank||Standard Chartered Bank||Federal Bank|
|Bandhan Bank||IndusInd Bank||Yes Bank|