Cash lying idle in your bank account?
Invest as low as Rs. 1,000 in Mutual Funds and enjoy higher returns.
  • loading

    We found 112 Short Term Fixed Deposit
    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.6% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.72% - 8.65% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 20 Years
    5% - 7.75% 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
    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    15 Days to 20 Years
    5.75% - 7.25% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    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
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6.5% - 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
    Loading your search...
    Close

    Tell us about yourself & we'll find the best Fixed Deposit offers for you.

  • Short Term Fixed Deposit is Rated as "Excellent!" by 1940 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    Short Term Fixed Deposit

    A fixed deposit is an investment option provided by banks or non-banking financial companies to deposit money and earn a certain rate of interest. The advantage of depositing money in a fixed deposit account is that it will give you a higher rate of return than a normal savings account. The maturity term for an FD account ranges from 7 days to 10 years. A short term fixed deposit has a maturity term from 7 days to a maximum of 12 months. Fixed deposit interest rates vary from bank to bank and this will fluctuate and may be also revised.

    Given below are the interest rates offered on short-term deposits by top banks:

    Bank Regular FD Rate (per annum) Senior Citizen FD Rate (per annum)
    SBI 5.75% to 6.40% 6.25% to 6.90%
    Axis Bank 3.50% to 6.50% 5.50% to 6.90%
    ICICI 4.00% to 6.50% 4.50% to 7.00%
    Citibank 3.00% to 5.00% 3.50% to 5.50%

    *The tenure taken is less than 365 days and the deposit value is less than Rs.1 crore

    Features of short term fixed deposit  

    • The maturity term of a short term fixed deposit ranges from 7 days to less than 12 months.
    • You can deposit money in such a term deposit only once.
    • You can opt to renew the short term fixed deposit account when it matures.
    • The tax on the funds in the account are deducted as per the Income Tax Act, 1961.
    • The rate of return on a time deposit account is usually high.
    • Money can be withdrawn from an FD account before maturity but only after paying a fine. However, there are some banks which offer no penalty on withdrawing money before maturity.
    • The minimum amount that you can invest in a short term deposit account varies from bank to bank. It is generally around Rs.10000. For minors, the starting amount is brought down by the banks.

    Advantages of short term deposits

    • It is the ideal option if you want to have transitory savings.
    • It provides greater liquidity with high rate of return.
    • A major advantage of such a fixed deposit is that it allows you to take a loan amount equivalent to 95% of the funds in your account without requiring a guarantor or any paperwork.
    • There is a provision for nomination when you open a term deposit account.
    • If you withdraw money before your term on the account ends, you will be charged an interest rate that is 1% less than the applicable rate.
    • The government considers funds in the short term fixed deposit account as security.
    • The fund in short term deposits can also be used as margin money for non-fund based services.

    Requirements for opening a short term fixed deposit account

    To open this type fixed deposit account, the requirements vary bank to bank. Most banks ask you to open a savings account along with the short term fixed deposit account. This removes the hassle of collecting the interest amount in person and it can be directly transferred to your savings account. Also the account holder should be a resident Indian although some banks offer Non-Resident Indians (NRIs) the option to open a short term fixed deposit account as well. To open fixed deposit account you would need an identity proof, passport size photos and proof of address.

    Some Options for Short-Term Investments 

    Investing and saving money is something everyone wants and needs. Even though, most of the time, saving money and investments are on a long-term basis. Mutual funds, fixed deposits are beneficial on a long-term basis and helps in accumulation of a large amount of money with the help of good interest rates.

    However, it is also highly beneficial to invest money on a short-term basis. While long-term investments can range from 1 year to 3 years or 5 years or 10 years, short-term investments range between 1 week to up to a year.

    Recurring deposits:

    One of the most common modes of short-term or long-term investments are recurring deposits.

    The duration of recurring deposit ranges from a minimum of 3 months and can go up to 10 years as well. There are no premature withdrawals allowed. The only way you can withdraw the money is during maturity or due to premature closing.

    The rate of interest for a recurring deposit is currently ranging between 4.5% per annum to 7.9% per annum.

    Short Term Bank Fixed Deposit:

    A short-term bank fixed deposit is another method of investing money for a shorter period of time. The tenure for this type of fixed deposit can range between 7 days and up to 1 year.

    The interest rate ranges between 3.5% per annum to 6.75% per annum which is taxable. There is no maximum limit for the fixed deposit, however the minimum amount is Rs.100.

    Post Office Time Deposit:

    Under this type of short-term investment, the tenure ranges between 1 to 5 years. This type of deposit is under the tax exemption scheme under Section 80C.

    The rate of interest is high and ranges between 6.9% per annum to 7.8% per annum. The minimum amount required to open the account is Rs.200.

    Sweep-in Fixed Deposit:

    This is an alternative for a savings account where any kind of excess amount which is more than the stipulated limit can be shifted to a sweep-in fixed deposit account. This account is known by different names depending on the bank.

    The rate of interest is the same as fixed deposits of the bank which is around 6.5% per annum and the tenure is mostly 12 months. The interest earned annually will be taxed if it is above Rs.10,000.

    There are other methods or options for short-term investments such as debt funds or debt mutual funds. The tenure is less than 12 months and the rate of interest is around 7% per annum.

    Short Term FD Reviews

    • Post Office Fixed Deposit
      "Need scope of improvement"
      0.5 3.0/5 "Satisfactory"
      Earlier I have taken fixed deposit in Post office, I have deposited the amount of Rs. 8 lakhs, they are providing 8% for interest for the period of one year. Now it came down, the benefits are good but I need to engage with the agent to invest the money in FD. Their service is not upto the mark.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 13, 2018
    • ICICI Bank Fixed Deposit
      "Good Investment"
      0.5 5.0/5 "Blown Away!"
      ICICI bank fixed deposit interest rate is good as per the RBI guidelines, I have selected the period of five years on FD account. So far I have deposited some good amount, as per my experience its good. I could make the payment through online as well.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 12, 2018
    • SBI Fixed Deposit
      "Good Investment"
      0.5 5.0/5 "Blown Away!"
      I have fixed deposit in SBI, the interest rate is good around 8.9% for the period of one year. I can invest the min of Rs. 500 to 15 lakhs, I have not tried reaching them because everything is going well. I get message every time after making a payment on month basis.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 12, 2018
    • Canara Bank Fixed Deposit
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I had made this Fixed deposit a long time back and the growth of the deposit has been good. The major thing which they should get improved is with their customer support where there should be a good help which should be there. The interest rate with them has not been bad and i had not faced much issues with their services so far.
      Was this review helpful? 1
      , secunderabad
      Reviewed on Nov 11, 2018
    • SBI Fixed Deposit
      "Average Investman plan"
      0.5 2.0/5 "Expected more"
      I have taken Fixed deposit account from the state bank of India . There is no additional charges for the account. It is short term investment plan for 5 years but am not satisfied with the rate of i9nytrest which they are giving . I used to get income tax benefits . Customer service and response is not that much good .
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 10, 2018
    • ICICI Bank Fixed Deposit
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      I have all my products with ICICI, even I do have fixed deposit with them. I used to deposit the money on yearly basis around Rs. 50,000. I opened this account before one year, the bank will provide the interest rate upto 7.25% of yearly basis.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Nov 02, 2018
    • IDBI Fixed Deposit
      "Good Investment Plan"
      0.5 4.0/5 "Great!"
      I have taken Fixed deposit account from IDBI bank where am getting income tax benefits from them . There is no charges for the account . Where they are giving good rate of interest i have chosen long term investment plan.Overall am satisfied with the service and response .
      Was this review helpful? 1
      , vadodara
      Reviewed on Nov 02, 2018
    • Shriram City Fixed Deposit
      "Average Service"
      0.5 4.0/5 "Great!"
      I had made this Fixed deposit for Gold and the growth with the deposit has been good. I had been paying the premium online and the tenure for the business conversions has been done. There has not been any issues faced with them so far. Their staffs had been informative as well.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Oct 31, 2018
    • review Fixed Deposit
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken my fixed deposit with KERALA TRANSPORT DEVELOPMENT FINANCIAL CORPORTATION LTD, they service is good they provide me good interest rate,my grow of deposit is good , and i am making payment through online like it get auto debited
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 29, 2018
    • SBI Fixed Deposit
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have a fixed deposit account with State Bank of India. The experience is fine and there are no hassles to open this account. The interest I earn on this account is also satisfactory. The customer support and response is good at the bank. It has been a smooth process.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 27, 2018
    • ICICI Bank Fixed Deposit
      "Good Investment Plan"
      0.5 4.5/5 "Excellent!"
      I have taken Fixed deposit account from Icici bank where am getting income tax benefits from them . There is no charges for the account . Where they are giving good rate of interest i have chosen 5 years of tenure plan for the deposit . Overall am satisfied with the service and response .
      Was this review helpful? 2
      , hyderabad
      Reviewed on Oct 26, 2018
    • SBI Fixed Deposit
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have a Fixed Deposit with SBI from last 3 years, i am satisfied with the returns of Fixed Deposit which is 8%-9%. The maturity period for Fixed Deposit is 5 years. Customer support was very good and they explained all the terms and conditions..
      Was this review helpful? 7
      , secunderabad
      Reviewed on Oct 19, 2018
    • SBI Fixed Deposit
      "Good in all"
      0.5 3.5/5 "Pretty good"
      I hold a fixed deposit account with State Bank of India. I had to visit the bank to open this account, it is a tedious process as it was not online. I had to fill in the application for the same. In all there has been a very good experience. Good overall.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 18, 2018
    • ICICI Bank Fixed Deposit
      "Good Investment Plan"
      0.5 4.0/5 "Great!"
      I have taken fixed deposit account in ICICI Bank . They are not charging any charges for the account . I used to get income tax benefits . Am satisfied with the customer service and response.They are giving good rate of interest . Overall am happy with my account .
      Was this review helpful? 2
      , hyderabad
      Reviewed on Oct 06, 2018
    • SBI Fixed Deposit
      "Good service"
      0.5 4.5/5 "Excellent!"
      I have a Fixed Deposit account with SBI from last 4 years, the maturity period for this FD is 18 years. I invested an amount of Rs 5 lacs in Fixed Deposit account. Customer service was good with SBI and i get good returns of 8% after the maturity period.
      Was this review helpful? 12
      , hyderabad
      Reviewed on Oct 01, 2018
    • Post Office Fixed Deposit
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have a Fixed Deposit account with India Post Office from last 1 year, i have invested an amount Rs 1 lac and maturity period is after 5 years. Customer service is very good and they explained all the terms and conditions. I get a returns of 7% and i am satisfied with it.
      Was this review helpful? 15
      , hyderabad
      Reviewed on Sep 26, 2018
    • HDFC Bank Fixed Deposit
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      I have a fixed deposit account with HDFC Bank and the banking process is good. I could open this account online and the account has been beneficial too. I can also close this account without having to go in person to the bank. It can be done online too.
      Was this review helpful? 8
      , chennai
      Reviewed on Sep 15, 2018
    • SBI Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I have opened a Fixed Deposit with SBI since 2011, i have renewed the FD 2 to 3 times. Customer service is very good with this bank and they explained everything about the returns. I deposit an amount of Rs 1 lac and i get 6.75% as interest on returns.
      Was this review helpful? 17
      , kolkata
      Reviewed on Aug 29, 2018
    • IndusInd Bank Fixed Deposit
      "Satisfied with the services"
      0.5 5.0/5 "Blown Away!"
      I have opened a fixed deposit with Indusind bank. The customer services and response is good and they are offering a good rate of interest. The customer services and response is good. It was easy to open this account and there were no charges taken for the same.
      Was this review helpful? 9
      , bangalore
      Reviewed on Aug 17, 2018
    • Kotak Fixed Deposit
      "Easy process to open a FD"
      0.5 5.0/5 "Blown Away!"
      I also have a fixed deposit account with Kotak Mahindra Bank. The process to open this account is easy. I can do it online. They also offer a good rate of interest on the account. I get 7.5% on my deposited amount of 30K. There is a lock in period of one year.
      Was this review helpful? 19
      , new delhi
      Reviewed on Aug 02, 2018
    Common Loader Icon

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.