Fixed Deposit

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FIXED DEPOSIT
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What is Fixed Deposit

• A fixed deposit is a financial instrument provided
  by banks which provides investors with a higher
  rate of interest than a regular savings account,
  until the given maturity date

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Eligibility..

• Individuals
• Sole Proprietorships
• Hindu Undivided
• Families (HUF)
• Partnerships
• Trusts
• Associations/Societies and Clubs
• Limited Companies

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Documents Checklist

• Application with photograph
• Age proof
• Address proof

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Interest.

• Interest is credited only if it is one rupee or
  more.
• Scheduled bank with deposits of less than Rs.25
  Crores are permitted to give an additional ½ of
  interest.
• Additional fixed deposit interest rate of 1 is
  also payable to retired employee (not resigned)
  and the spouse of a deceased retired employee.

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Benefits

• Loans can be availed on fixed deposit up to
  80-90
• Rate of interest over loan will be 1-2 over rate
  offered on deposit
• NRI can apply for fixed deposit

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