- Please confirm interest rates at the time of finalising the investment
Fixed deposits as the name suggests bear a constant rate of interest till the maturity of the deposit. It can range from 1 year to 10 years and can be withdrawn prior to designated maturity date with some penal charges. The investor can avail a overdraft facility on the bank Fixed Deposits up to 90% of the deposit amount. The interest on such fixed deposits is taxed once the interest amount across different banks crosses Rs.10,000 per annum. The interest can be availed on a monthly basis, quarterly intervals or as a cumulative option. These deposits are issued by PSU banks, Private sector banks, Housing finance companies and Corporate bodies. Many of the corporate Fixed deposits also get their schemes rated by leading credit rating agencies. The rate of interest for senior citizens are normally higher than the regular interest rates. The investor can open the fixed deposit from the convenience of his home in a paper less manner, else he can opt for the physical route where the bond certificate is issued to him/her