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    We found 112 Annuity Deposit Scheme

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 20 Years
    5% - 8% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.25% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4.25% - 7.05% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    15 Days to 20 Years
    4.25% - 7.25% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    6.5% - 6.8% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6% - 6.75% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year onwards
    6.25% - 6.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.30% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    6.80% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
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  • Annuity Deposit Scheme Reviews

    • Central Bank of India Fixed Deposit
      "CBI is the best bank for Fixed Deposit"
      0.5 4.5/5 "Excellent!"
      HI! This is Santosh, I had been using from last 8 years with best service without any issue. This Bank Fixed Deposit rate of interest is higher then other banks. The Banking and services are good, There is no Fixed deposit breaking charges. I will recommend this Bank for the Best FD services.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 18, 2017
    • HDFC Bank Fixed Deposit
      "Go ahead with your choice"
      0.5 4.0/5 "Great!"
      I have the fixed deposit account with the HDFC bank and I been with them from the last three to four years of time. The rate of interest was reduced as of now but I have got it as fixed. Customer service and other things are really okay and I have not interacted with them.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 06, 2017
    • SBI Fixed Deposit
      "Wonderful "
      0.5 4.0/5 "Great!"
      I had the fixed deposit account with the State bank of India and the interest rate was around 6% to 7% before three years of time. Response and other aspects are good enough. Customer service was also good one and their online banking services are up to the mark.
      Was this review helpful? 6
      , visakhapatnam
      Reviewed on Jul 03, 2017
    • ICICI Bank Fixed Deposit
      "Its Good"
      0.5 4.0/5 "Great!"
      In terms of interest rate, ICICI IS providing lower benefits for Fixed deposit account. For premature they not calculating the proper interest rate. It would be better to give clear information about interest rate calculation within the period of transaction.
      Was this review helpful? 4
      , chennai
      Reviewed on Jun 30, 2017
    • SBI Fixed Deposit
      "Its Average"
      0.5 2.0/5 "Expected more"
      I am having recurring deposit with SBI, I opened the RD by visiting SBI branch. On the same day RD account got activated. But I felt interest rate is low they offering only 7.1% of interest, I have invested the amount of Rs. 1 lakh for the tenure of 15 month, after maturity of the RD. I would be getting the return around 1.08 lakh.
      Was this review helpful? 3
      , ahmedabad
      Reviewed on Jun 30, 2017
    • ICICI Bank Fixed Deposit
      "Good for tax saving "
      0.5 5.0/5 "Blown Away!"
      I have opened the fixed deposit through ICICI I mobile application, I have invested the amount of Rs.5000 for the tenure of five years. After the tenure I would be getting Rs.20,000 as a return. I could track the fixed deposit details over the netbanking.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jun 29, 2017
    • HDFC Bank Fixed Deposit
      "Best"
      0.5 4.0/5 "Great!"
      I do have fixed deposit account with the HDFC bank and the interest rate is common one with every bank like it used to get varied up to 0.5% . Penalty charges are nil with them for the premature withdraw, which is the really good one.
      Was this review helpful? 5
      , chennai
      Reviewed on Jun 22, 2017
    • SBI Fixed Deposit
      "Good Service"
      0.5 4.0/5 "Great!"
      When I have started to deposit the money I was getting good interest rate but know the rate of interest is decreased with SBI Fixed deposit. I have started the fixed deposit around 6 years ago with SBI. Initially I got around 9.5% as interest rate but now I am getting only 7.5% interest rate. The service with State is good.
      Was this review helpful? 6
      , bangalore
      Reviewed on Jun 22, 2017
    • Canara Bank Fixed Deposit
      "Good"
      0.5 2.5/5 "Just OK"
      I am having the fixed deposit account with the Canara bank and the rate of interest is around 8.5%, which was very lesser one on that time. Total tenure is around three years of time, also the penalty charges are not really huge. Customer service is not really up to the mark.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 20, 2017
    • IDBI Fixed Deposit
      "Good experience"
      0.5 5.0/5 "Blown Away!"
      I would suggest IDBI bank is the best one to get the fixed because of the good rate of interest . Customer service is good one and am with them from the last three years of time. Penalty charges are lesser one with the m for the premature withdraw.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 19, 2017
    • ICICI Bank Fixed Deposit
      "Good Indian bank"
      0.5 4.0/5 "Great!"
      I do have fixed deposit account with the ICICI bank and the interest rate is around 6.5% per annum , also the maturity period is also one year of time. Customer service is also a good one with the ICICI bank, also the response too. Online banking services are also working in good way and am very familiar with them till now.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jun 16, 2017
    • Axis Bank Fixed Deposit
      "Its good investment"
      0.5 4.5/5 "Excellent!"
      I have invested one lakh in fixed deposit with AXIS bank. Its going to matured in this august, Then I would be getting around Rs.1.12,000. I have opened this FD through online and I will be getting the amount same to my account. AXIS gave me premature withdrawal, I can close whenever I want.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 13, 2017
    • Canara Bank Fixed Deposit
      "For common man"
      0.5 5.0/5 "Blown Away!"
      I do have the fixed deposit account with the Canara bank and am using it from the last ten years of time. Customer service aspects are good one with them and the online banking services are not really working in a good according the new generation bankers. The interest rate is around 7.25% as of now.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 12, 2017
    • YES Bank Fixed Deposit
      "Wonderful "
      0.5 5.0/5 "Blown Away!"
      I have the fixed deposit account with the Yes bank and the interest rate is around 6.5% above and the customer service is not yet experienced because everything used to dealt with through online experience. I have not faced any server down issues with the Yes bank.
      Was this review helpful? 3
      , ghaziabad
      Reviewed on Jun 12, 2017
    • HDFC Bank Fixed Deposit
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the HDFC bank and the services are always an excellent one. I have opened the account on immediate basis like everything used to get happened in instant way. Rate of interest is around 6.5% and the response is an excellent one.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 09, 2017
    • Vijaya Bank Fixed Deposit
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the Vijaya bank and the interest rate is around 6.5% and the customer service is good one , also they are nearby my locality and also the access is really friendly. Online services are good one with the Vijaya bank.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 09, 2017
    • Central Bank of India Fixed Deposit
      "Fund transfer"
      0.5 0.5/5 "Unacceptable"
      The worst banking system I have ever seen. if i want to transfer amt to other bank through IFSC they can't detect the bank or automatically logged out .if I want current statement they can't.net banking automatically logged out.if i go for pass book entry server down problem. if I go to ATM only 2k available etc...
      Was this review helpful? 4
      , kolkata
      Reviewed on Jun 01, 2017
    • SBI Fixed Deposit
      "Very good in services"
      0.5 5.0/5 "Blown Away!"
      When I wanted to open a fixed deposit account at State Bank of India. I did not have to visit the bank. I opened the account online and though the rate of interest is not that appealing. I am happy with the overall experience and process and the convenient banking process.
      Was this review helpful? 11
      , guwahati
      Reviewed on May 31, 2017
    • SBI Fixed Deposit
      "Convenient to Hold"
      0.5 4.0/5 "Great!"
      It has been two years when I opened fixed deposit with State bank of India. The period is for five years. Since I completed two years, three years to go. Interest rate is of 11%. Actually SBI is located near to my house so I feel more comfortable in visiting the bank at any instance. All the staffs are very friendly and very cooperative.
      Was this review helpful? 6
      , visakhapatnam
      Reviewed on May 25, 2017
    • SBI Fixed Deposit
      "Secured investment"
      0.5 5.0/5 "Blown Away!"
      Compared to other banks SBI offering good interest rate on fixed deposit, they offered me 7.95% of interest. I have the amount of Rs. 2.4 lakhs for the tenure of three years. After the maturity period I got the amount around 2.9 lakhs. I am very much fine with that.
      Was this review helpful? 4
      , hyderabad
      Reviewed on May 24, 2017
    Common Loader Icon

    Annuity Deposit Scheme is Rated as "Excellent!" by 1757 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    An annuity deposit scheme enables depositors to make one-time lump sum payments which they can receive in EMIs that comprise a portion of the principal amount in addition to the interest on the diminishing principal amount, discounted to the monthly value after being compounded to quarterly rests. Customers will have to start making interest payments exactly a month after the date on which the deposit was made. In case the date does not exist (such as the 29th, 30th or 31st), the payment has to be made on the first day of the following month.

    Eligibility Criteria

    Most banks that offer annuity deposit schemes specify that only Indian residents can apply for the same. NRE and NRO customers are not eligible.

    Account Type

    Term Deposit Account / Special Term Deposit Account (Single OR Joint depending upon the bank)

    Deposit Amount

    The deposit amounts vary from bank to bank. For example, depending on minimum monthly annuity, the minimum amount that can be deposited into an SBI annuity deposit account is Rs.1,000 for the relevant period. The minimum deposit cannot be under Rs.25,000 in any case. There is no maximum limit on how much money you can deposit into this account.

    Rate of Interest

    As applicable to term deposits depending upon the choice of the depositor. For instance, the lowest returns with SBI can be 5.25% and the highest is 7.5%. Senior citizens get an extra 0.5% return on their investment.

    Period

    Customers usually have a choice between 12, 24, 36, 60, 84 or 120 months (one year, two years, three years, five years, seven years and ten years). Each bank has its own set of tenures, so it is important to look for the one that best suits your needs before applying for one.

    TDS

    Tax benefits provided under section 80C of Income Tax Act, 1961

    Loan against the scheme

    While some banks offer loans against an annuity deposit scheme, there are other banks that do not offer the facility to customers.

    Nomination (if any)

    Available in some cases, but only one person can be nominated by an individual, but joint accounts can nominate more than one person with common consent.

    Annuity Deposit Scheme Interest Rates

    Following are the interest rates applicable to customers who deposit amounts up to Rs.1 crore.

    Tenors

    Existing rate for Public

    Revised for Public w.e.f 05.10.2015

    Existing rate for Senior Citizens

    Revised rate for Senior Citizens w.e.f 05.10.205

    7 days to 45 days

    5.50%

    5.25%

    5.75%

    5.50%

    46 days to 179 days

    6.75%

    6.50%

    7%

    6.75%

    180 days to 210 days

    7%

    6.75%

    7.25%

    7%

    211 days to 365 days

    7.25%

    7%

    7.50%

    7.25%

    365 days to 455 days

    7.5%

    7.25%

    7.75%

    7.50%

    456 days to 730 days

    7.75%

    7.50%

    8%

    7.75%

    Two years to three years

    7.75%

    7.50%

    8%

    7.75%

    Three years to five years

    7.25%

    7%

    7.50%

    7.25%

    Five years to ten years

    7.25%

    7%

    7.50%

    7.25%

    *Interest rates are subject to the bank’s discretion and can be changed at any time in the future.

    *Rates as of Dec 1st 2015

    Frequently Asked Questions

    1. Can I make premature payments towards the scheme?

      The bank generally does not approve of premature payment, but customers will be allowed to do so only in case of the death of the depositor.

    2. What is the difference between annuity deposit and a recurring deposit account?

      Customers who start a recurring deposit account must make payments in instalments and the maturity amount is presented to the customer on the maturity date. Annuity deposits, on the other hand, allow customers to make one-time deposits so that the amount in addition to interest on diminishing principle can be given back to the customer in instalments over the predetermined tenor.

    3. What is the difference between annuity deposits and a fixed deposit account?

      Customers who open fixed deposit account must make an initial deposit for which they will receive an amount that includes interest and principal in case of STDR and only principal in case of TDR on the maturity date. Annuity deposits, in comparison, require customers to make a one-time deposit so that the amount along with the interest can be given back to the customer over the predetermined tenor chosen by the customer, in EMIs.

    4. Is there a minimum and maximum limit for deposits towards this scheme?

      Yes, the minimum amount of money that can be deposited will depend on minimum monthly annuity Rs.1,000 for the relevant period. For instance, if the account is opened with a three-year tenor, the minimum deposit amount is Rs.36,000. There is no maximum limit, allowing customers to deposit as much money as they possibly can.

    5. Can I debit money from any other account to open an annuity deposit account?

      Yes, customers are allowed to debit their OD, current or savings account to open an annuity deposit account. The account chosen for debiting must be a valid transactional account via internet banking medium and must not be a locked / dormant / stopped account.

    Useful Information on SBI Fixed Deposit

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