Fixed Deposit

Fixed Deposit

In deposit terminology, the term Fixed Deposit refers to a savings account or certificate of deposit that pays a fixed rate of interest until a given maturity date. Funds placed in a Fixed Deposit usually cannot be withdrawn prior to maturity or they can perhaps only be withdrawn with advanced notice and/or by having a penalty assessed.

Deposit Scheme

Tenure Fixed Deposit Minimum Deposit
1 Years 10% 1000
2 Years 10.5% 1000
3 Years 11% 1000
4 Years 11.5% 1000
5 Years 12% 1000

A fixed deposit (FD) is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date.Fixed deposits are a high-interest -yielding Term deposit and offered by banks in India.

  • Customers can avail loans against FDs up to 80 to 90 percent of the value of deposits. The rate of interest on the loan could be 1 to 2 percent over the rate offered on the deposit.

  • Residents of India can open these accounts for a minimum of 3 months.
  • Tax is deducted by the banks on FDs if interest paid to a customer at any bank exceeds Rs. 10,000 in a financial year. This is applicable to both interest payable or reinvested per customer. This is called Tax deducted at Source and is presently fixed at 10% of the interest.

    Contact

    • Ward 15 Hanuman Nagar Moradabad Uttar Pradesh 244001
    • (+91) 6396753701
      9105050820
    • info@neelanjali.com

    Brochures

    View our 2017 scheme prospectus brochure for an easy to read guide on all of the services offer.