Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
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    Fixed Deposit Double Scheme

    We found 111 Fixed Deposit Double 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% - 8.15% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.5% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4.25% - 7.35% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    15 Days to 20 Years
    4.25% - 6.9% 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% - 7.10% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6% - 6.4% 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% - 7.35% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    6.85% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
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  • Fixed Deposit Double Scheme Reviews

    • Karur Vysya Bank Fixed Deposit
      "Good"
      0.5 3.5/5 "Pretty good"
      I am having the fixed deposit account with the Karur Vysya bank and the account got opened within one to two days of time. Tenure is for five years of time and after that it will be get matured. Rate of interest was around 8.5% to 9% on that time with the tax redemption.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 23, 2017
    • Karnataka Bank Fixed Deposit
      "Good Bank"
      0.5 5.0/5 "Blown Away!"
      I have an account for fixed deposit only with Karnataka bank. I have deposited around fifty five lakhs. I bank with Karnataka for more than twenty years, even my family members are having an account with the same bank. Their services are really good.
      Was this review helpful? 0
      , chennai
      Reviewed on May 22, 2017
    • ICICI Bank Fixed Deposit
      "Good one"
      0.5 3.5/5 "Pretty good"
      I have fixed deposit account with the ICICI bank and I got it from them because I had the salary account with them. Within two days of time fixed deposit account got opened and the maturity period is around one year of time. Interest rate is around 8% with them and am not that much happy with that. I would like to suggest that they can increase the rate of interest for the deposits.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 18, 2017
    • SBI Fixed Deposit
      "Too much of process involved"
      0.5 2.5/5 "Just OK"
      At other private bank a fixed deposit could be opened online and a customer does not have to visit the bank. In my case I had to visit State bank of India to open a fixed deposit and it has a lot of process involved. Like wise to close the same it is the same scenario.
      Was this review helpful? 2
      , pune
      Reviewed on May 10, 2017
    • SBI Fixed Deposit
      "Good "
      0.5 5.0/5 "Blown Away!"
      I am having fixed deposit account with the State bank of India and the interest rate is around 6.2% for the tenure of five years of time. I have opened this account through online, so it got happened very immediately. Charges are nil with them and I can get the money withdrawal in fraction of seconds.
      Was this review helpful? 4
      , pondicherry
      Reviewed on May 09, 2017
    • SBI Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Long back I had Fixed deposit account with State bank of India. I selected the tenure period for six years. The bank had fixed a good rate of interest. At last I received the money with the promised interest amount. I am much satisfied with SBI for the FD service.
      Was this review helpful? 3
      , hyderabad
      Reviewed on May 09, 2017
    • Bank of Baroda Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had Fixed Deposit account with Bank of Baroda about quite long back. The tenure period is six years and the fixed amount is four to five lakhs. The percentage of interest rate is quite good and they returned the money back with the promised interest amount.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 09, 2017
    • ICICI Bank Fixed Deposit
      "Average "
      0.5 2.0/5 "Expected more"
      I have withdrawn my fixed deposit account with the ICICI bank and the interest rate was around 7%. It took around one to two hours of time to open the account through online. There are no charges while withdrawing the amount , also it took around one month of time to get it.
      Was this review helpful? 1
      , pudukkottai
      Reviewed on May 08, 2017
    • IDBI Fixed Deposit
      "Very Responsive"
      0.5 4.0/5 "Great!"
      I deposited some amount with IDBI bank as a fixed deposit. Actually I deposited this amount for future savings also I will be getting some good interest rate at the end of the year. I got good support from the bank executives and they provided all the information regarding FD.
      Was this review helpful? 1
      , indore
      Reviewed on May 04, 2017
    • YES Bank Fixed Deposit
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      Yes bank have some banking issues with them I believe. I have savings account, recurring and fixed deposit account with them. I never received quick response from the bank. But the bank is good for my fixed deposit account. Simply I opened an account with them and getting better service on it.
      Was this review helpful? 1
      , indore
      Reviewed on May 04, 2017
    • Kotak Fixed Deposit
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have savings account with Kotak Mahindra bank. Even I have fixed deposit account as well. The period of FD is for one year. The bank is assigned relationship manager for me as I have so many accounts with them. I got good response from them for my FD. 1 years, 1years, relationship manager
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2017
    • SBI Fixed Deposit
      "Satisfactory Service"
      0.5 5.0/5 "Blown Away!"
      Even I have fixed deposit with State bank of India. The tenure period is one year. I deposit certain amount with them as their interest rate is good and incomparable. SBI gives good response to the people and they are very supportive as well. I have no issues with SBI.
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2017
    • Punjab National Bank Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had invested in fixed deposit with Punjab National Bank. I have deposited ceratin amount on my account. I got good response from the bank when I opened FD. The bank was so supportive and they provided all the information regarding FD. The interest rates too are pretty attractive.
      Was this review helpful? 0
      , indore
      Reviewed on May 04, 2017
    • SBI Fixed Deposit
      "Average "
      0.5 1.0/5 "Really Bad"
      I had invested in fixed deposit with the State bank of India and the interest rate is very less like its around 7.15%, also the returns are also very less, which will be also applicable with the tax. Services provided by them is really not good and I would like to suggest that they need to provide the customer service in a much better way.
      Was this review helpful? 2
      , bhopal
      Reviewed on May 03, 2017
    • SBI Fixed Deposit
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      In terms of interest rate and everything State Bank of India is fine to have the fixed deposit and the service aspects are working fine with them. I am having this account from the last six to seven years of time and the response is always very good with the State Bank of India.
      Was this review helpful? 2
      , mundra
      Reviewed on May 03, 2017
    • HDFC Bank Fixed Deposit
      "Excellent to Excellent"
      0.5 5.0/5 "Blown Away!"
      I do have the fixed deposit account with the HDFC bank and the interest rate is differed according to the offers. All of my deposits will be taken care by my relationship manager. Total tenure is around five years of time and its a kind of small deposits. Net banking services are an excellent one with them.
      Was this review helpful? 2
      , bangalore
      Reviewed on Apr 26, 2017
    • Punjab National Bank Fixed Deposit
      "Customer service should be good and unique for everyone"
      0.5 4.0/5 "Great!"
      I do have fixed deposit account with the Fixed deposit and they have provided around 8.5% as interest rate. Services are perfect one for me and I do have good relationship with them because my relatives are working there. Net banking services are also working good and they are started to exhibit most of the services there.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Apr 26, 2017
    • Axis Bank Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had invested in fixed deposit account with the Axis bank and the minimum tenure is around five years of time. Response is a good one with them and everything was done through online. Net banking services are working in an excellent way and it is really wonderful.
      Was this review helpful? 1
      , kolkata
      Reviewed on Apr 25, 2017
    • HDFC Bank Fixed Deposit
      "My FD"
      0.5 5.0/5 "Blown Away!"
      I had invested in FD with HDFC. The benefits what I get here is huge. I never used to visit the branch . I had got a phone call from them immediately they had sent their representative for the same. He helped me in filling the form and I do have online access and I view all the FD information online itself
      Was this review helpful? 2
      , kolkata
      Reviewed on Apr 20, 2017
    • andhra Bank Fixed Deposit
      "Good one"
      0.5 4.0/5 "Great!"
      Good, I can view all the accounts in one page that is why I had chosen this ANDHRA Bank FD. I have online access too. I can view and change the mat instructions online. I change the principle amount too. I do get a the certificate of interest from them proactively on a yearly basis
      Was this review helpful? 1
      , kurnool
      Reviewed on Apr 20, 2017
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    Fixed Deposit Double Scheme is Rated as "Excellent!" by 1737 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    Doubling our income is a dream which everyone has, often thinking of multiple ways which can double our hard earned money. While it might not be possible to double our money overnight, there are methods through which our money can actually double, without any risk on our part. Contrary to popular belief one doesn’t have to invest in shady schemes which promise to double your money, for fixed deposits can do the same, in a safe and secure manner.

    What is a Fixed Deposit Double Scheme?

    A Fixed Deposit Double Scheme is a plan which aims to double the investment of a customer over a period of time. These schemes are generally offered by banks and require customers to deposit certain sums for a fixed period of time. The interest earned on this sum eventually doubles the money, which is then given back to the customer at the end of a term.

    Banks providing Double Scheme Fixed Deposits

    There are a few banks which offer Fixed Deposit Double Schemes, some of which are mentioned below.

    • Tamil Mercantile Bank – Tamil Mercantile Bank offers a “Double Deposit” scheme to customers, aiming to double a particular investment in a specified time period. This scheme is open for individuals and companies alike, with the time period to double an investment standing at 98 months and 10 days for senior citizens and 104 months and 11 days for others. The minimum deposit for this scheme stands at Rs 1,000.
    • Allahabad Bank – Allahabad Bank offers a scheme titled “Double Deposit Plan” which is a combination of a Fixed and a recurring deposit scheme. Interest on this deposit is compounded quarterly, with a minimum investment of Rs 1,000.
    • Bank of Baroda - Bank of Baroda offers a scheme titled “Baroda Double Dhamaka Fixed Deposit” which is primarily targeted to customers who wish to see their money grow. This account can be opened by individuals and companies alike, with a minimum deposit of Rs 5,000 and a maximum deposit of Rs 1 crore. The period to double an amount is 105 months and 3 days for senior citizens and 112 months for others.
    • Oriental Bank of Commerce – The “Oriental Double Deposit Scheme” offered by Oriental Bank of Commerce aims to double the deposit of a customer over a specific time period. The minimum deposit amount for this scheme is Rs 1,000, with the time taken to double the money standing at 105 months for senior citizens, 114 months for the general public, 99 months for staff members and 96 months for former staff members and senior citizens.
    • Punjab National Bank – Punjab National Bank offers the “PNB Dugana Fixed Deposit Scheme”, aimed at doubling the deposit of a customer. This scheme can be availed by individuals and companies/firms alike, with a minimum deposit of Rs 5,000. An amount doubles in 99 months, post which it is returned to the depositor.

    Features and Benefits of FD Double Scheme

    Fixed Deposit Double Schemes come with a host of features and benefits, some of which are mentioned below.

    • Hassle free – Individuals/companies wishing to open this FD can open it without hassles, with banks following simple account opening procedures.
    • Flexible – Individuals can choose to deposit amounts according to their financial standing, with most banks accepting deposits ranging from a few thousand to lakhs.
    • Loans – Most banks offer loans on these fixed deposits, ensuring funds do not become a liability.
    • Nomination – Accountholders can nominate others on their behalf.
    • Interest rate – These deposits earn attractive interest rates, enabling them to double over a certain period of time.
    • Premature Withdrawals – certain banks allow premature withdrawal of funds from this deposit.

    How Fixed Deposit Double Scheme differs from Normal Fixed Deposit

    Both the normal fixed deposit and double scheme fixed deposits are essentially from the same family. Individuals having normal fixed deposits can choose the tenure for such deposits, which generally range from a few days to a few years. Interest earned on these deposits depends on the tenure, with longer tenures earning higher interests. The entire amount with the accumulated interest is returned to the depositor on maturity.

    In case of Fixed deposit double schemes, there is only a fixed tenure and one cannot modify this tenure. The interest rate remains fixed throughout this period, ultimately ensuring that an investment is doubled on its completion.

    FAQs

    Q. How does money double in these FDs?

    A. The money doubles on account of the interest earned, with the interest component accounting for half the money.

    Q. Is the interest same for everyone?

    A. No, the interest is different for different classes of customers, with senior citizens and members of the armed forces earning higher interest compared to others.

    Q. Are accounts auto renewed?

    A. Yes, most banks offer auto renewal of accounts, unless specific instructions are given for the contrary.

    Q. Will TDS be deducted on deposits?

    A. Yes, TDS might be deducted, subject to the rules in force and the interest component an individual earns.

    News About Fixed Deposit Double Scheme

    • Bajaj Finance Ltd. offers FDs as low as Rs.25,000

      Bajaj Finance Ltd., one of India’s most trusted Non-banking Financial Companies (NBFCs) which has received the highest credit rating FAAA/Stable from CRISIL and an MAAA rating from ICRA for its fixed deposits. Bajaj Capital has not reduced the minimum amount for its Fixed Deposits from Rs.75,000 in Mumbai to Rs.50,000 in Delhi to Rs.25,000 across the country. In a Fixed Deposit scheme, an individual can make a deposit of a lump sum amount in the bank for a stipulated amount of time to earn an interest on the deposit. Presently, Bajaj Finance Ltd. offers a cumulative interest rate of 8.05% on Fixed Deposits with a tenure between 36-60 months.

      The FD calculator on the Bajaj Finance Ltd. website it very helpful to customers as it allows them to calculate the amount their deposit will mature at. The calculator also allows customers to select the tenure of their deposit, as well as, the interest payment frequency to better understand the interest receivable on a deposit. Existing loan customers of Bajaj Finance Ltd. are also eligible to receive an additional 0.10% of interest and senior citizens are eligible for an enhancement of 0.25% on their interest rate. An person can apply for a FD with Bajaj Finance Ltd. by filling up the form available on the Bajaj Finance Ltd. website, once the form is filled and submitted a representative from the company will set up an appointment to visit the person and collect the required documents and cheque.

      12th April, 2017

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