Term Deposit, also known as Fixed Deposit, is an investment which is made by parking a specific amount of money within a financial institution for a prearranged time period. This investment is held by a fixed rate of interest throughout the life of the plan, which usually ranges from 1 month to 5 years.
DOCUMENTS REQUIRED FOR FIXED DEPOSIT
- Duly filled Application Form with a photograph Click here to download the Fixed Deposit Form.
- Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority).
- Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority).
Rate of Interest on Deposits:
|Period||Rate of Interest|
|30 days to 180 days||5.50% p.a|
|181 days to 1 Year||6.50% p.a|
|Above 1 Year upto 2 year||8.25% p.a|
|2 years to 3 years||8.50% p.a|
|Above 3 years||9.00% p.a|
|Above 5 years||8.50% p.a|
|Money Multipliers ( MM )||90 Months double the amount at 9.57% p.a|
|Additional interest for sr. citizens, widows, Physical Handicapped Ex-Army for all deposits above 1 year||0.50% p.a|
|Bulk Deposits: Rs 15 Lakhs and above ( Single Receipt ) additional interest||0.25% p.a|