Your hard earned money is kept in trust here.
FD is also known as Fixed Deposit Account. A fixed deposit scheme means that the
customer deposits his savings in the bank for a fixed period of time and the bank pays him
interest on that amount, this scheme earns higher interest than savings account. Depending
on the tenure of the FD, the interest rate ranges from 7% to 13%. Deposits made for a period
of more than 12 months come under the Fixed Deposit Scheme, and deposits made for a
period of less than 6 months come under the Short Term Deposit Scheme.
|
Sr No.
|
Duration(days)
|
Months
|
Interest rate per annum(DSDS)
|
For senior citizens
|
| 1 |
15 to 180
|
6 months
|
7%
|
7.5%
|
| 2 |
181 to 365
|
12 months
|
10%
|
10.5%
|
| 3 |
366 to 1095
|
36 months
|
12%
|
12.5%
|
| 4 |
1096+
|
Beyond 36 months
|
13%
|
13.5%
|
