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Fixed Deposit

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Fixed deposits are simple financial products that offer substantial rate of interest over a fixed amount of investment for a given period of time. Check out this power point presentation on fixed deposits which elaborates the topic in detail. – PowerPoint PPT presentation

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Title: Fixed Deposit


1
FIXED DEPOSIT
2
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

3
Eligibility..
  • Individuals
  • Sole Proprietorships
  • Hindu Undivided
  • Families (HUF)
  • Partnerships
  • Trusts
  • Associations/Societies and Clubs
  • Limited Companies

4
Documents Checklist
  • Application with photograph
  • Age proof
  • Address proof

5
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.

6
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

7
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