Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
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    We found 112 Short Term Fixed Deposit

    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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  • Short Term FD 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
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    Short Term Fixed Deposit is Rated as "Excellent!" by 1757 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    Overview on Short Term Fixed Deposit

    Planning on saving that Rakhi gift money from your overly generous brother? Or wondering what to do with a lump sum settlement amount? Make your money earn for you by putting it into a fixed deposit.

    A fixed deposit is a financial tool where an individual can deposit a sum of money for a fixed period of time. Upon maturity of that period, the deposited sum along with interest will be returned to the individual.

    Sounds suspiciously like a savings account? The difference between a fixed deposit and a savings account is that a fixed deposit locks your money in for the tenure of the deposit. In other words, you are unable to withdraw or use that money without incurring a hefty penalty.

    This ensures that you do not use the money for any purpose until the deposit matures and you receive the lump sum along with interest.

    Benefits of a Short Term Fixed Deposit

    A short term fixed deposit has a number of benefits and advantages, as listed below:

    • Shorter period of lock in, giving you access to your money sooner.
    • Stable means of building wealth.
    • Interest rates in amount deposited are close to double those of a savings account.

    Planning Your Short Term Goals Using Short Term FD

    A short term fixed deposit enables you to save towards a short term goal by helping you set aside a certain amount of money for it.

    As the amount in a fixed deposit cannot be withdrawn or utilised in any way without the paying of a hefty fine, it can be saved towards the realisation of a goal.

    For example, if a short term goal is the acquisition of a new two wheeler, you could plan your fixed deposit in a way that the amount received at the time of maturity meets the goal. Accordingly, picking a fixed deposit that offers a certain rate of interest depending on the tenure would be important.

    However, it should be noted that the income form fixed deposits is taxable under provisions of the Income tax Act. In case of exemptions, the applicant is required to submit the relevant exemption form at the time of income declaration. Additionally, interest received on fixed deposits is taxable if the amount is above Rs.10,000 in a year.

    Short Term Fixed Deposit Tenure

    A short term fixed deposit can have a tenure ranging from 7 days to 10 years. Thus, there is a fixed deposit plan to suit every budget and requirement. Different banks offer fixed deposits at different tenures, so it would be advisable to check the tenures offered by different banks before applying for one.

    If you are looking for a short term fixed deposit, you could pick between a very short duration of 7 days and one up to 2 years.

    Short Term Fixed Deposit Minimum Requirements

    The short term fixed deposit plans offered by banks are subject to certain minimum requirements and eligibility criteria. Some banks offers fixed deposits with a premature withdrawal option, but the interest rate offered in such cases is lower than those where a premature withdrawal is not permitted.

    The minimum deposit amount for a fixed deposit varies from bank to bank. Some banks have a minimum amount of Rs.10,000 for general customers.

    Banks also offer fixed deposits for minors. The amount for such accounts is lower, with some banks offering a minor fixed deposit account with a minimum amount of Rs.2,000.

    Eligibility Criteria for Short Term Fixed Deposit

    Each bank has a list of eligibility criteria that applicants have to meet before they can open a fixed deposit account. Most banks will ask the depositor to open a saving account with them so the interest can be credited to the account, avoiding the hassle of the depositor having to collect it in person.

    Apart from this, all depositors have to be resident Indians, unless the fixed deposit is also offered to Non-Resident Indians (as specified in the terms and conditions).

    Documentation Required for Short Term Fixed Deposit

    The list of documents to be submitted when opening a fixed deposit account are given below:

    • Proof of identity
    • Proof of address
    • Recent passport sized photographs

    Short Term Fixed Deposit Interest Rates in India

    Short term fixed deposits are offered by a large number of banks in India. The rates of interest on the fixed deposits varies from bank to bank. A list of the fixed deposit tenures along with the corresponding rates of interest is given below:

    Short Term Fixed Deposit Interest Rates (calculated at % P.A.)
    ICICI Bank SBI HDFC Axis Bank
    Tenure Reg Sr Cit Reg Sr Cit Reg Sr Cit Reg Sr Cit
    7 – 14 days 4 4.50 5.50 5.75 3.50 4 3.50 3.50
    15 – 29 days 4.25 4.75 5.50 5.75 5 5.50 3.50 3.50
    30 – 45 days 5.50 6 5.50 5.75 5.50 6 5.50 5.50
    46 - 60 days 6.50 7 6.50 6.75 6.25 6.75 6 6
    61 – 90 days 6.75 7.25 6.50 6.75 6.25 6.75 6.25 6.25
    91 – 184 days 7 7.50 6.50 6.75 6.50 7 6.75 6.75
    185 – 289 days 7.25 7.75 6.75 7 6.75 7.25 6.75 7
    290 – 364 days 7.40 7.90 7 7.25 6.75 7.25 7.30 7.55
    365 – 389 days 7.40 7.90 7.25 7.50 7.50 8 7.50 8

    Please note- the above rates are as on 4th September, 2016. The rates are subject to change at the discretion of the banks. Please check the current applicable rate at the time of application.

    A short term fixed deposit is an ideal way to plan for and begin your savings portfolio while also earning from your savings.

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