A term deposit/fixed deposit is a scheme where you can invest huge amounts for a pre-fixed tenure, and you can earn interest at the rates applicable on the day you open the fixed deposit.
IDFC offers Fixed Deposit offers fixed deposits at many tenures at a very competitive interest rates. There may be a lot of cases where you can close a fixed deposit- either prematurely or close it once the term is over, instead of renewing it.
No, the bank does not allow premature withdrawal of tax saving fixed deposit schemes.
You need to update your PAN for 5-year fixed deposit schemes. You have to visit the bank branch with your PAN card and then get this updated.
Any existing, as well as a non-existing customer of the bank, can opt for these schemes and reap benefits from competitive IDFC fixed deposit interest rates.
No, tax-saving fixed deposit schemes do not come with an option of taking a loan against the deposit.
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