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
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    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
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    Highlights
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 20 Years
    5% - 7.8% Quarterly compounding
    Response Time Within 30 minutes
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    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.25% Quarterly compounding
    Response Time Within 30 minutes
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    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4.25% - 7.05% Monthly compounding
    Response Time Within 30 minutes
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    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
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    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
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    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    6.80% Quarterly compounding
    Response Time Within 30 minutes
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  • Short Term Fixed Deposit is Rated as "Excellent!" by 1827 Users

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    Short Term Fixed Deposit

    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.

    Short Term FD Reviews

    • SBI Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      As I have a savings account with State Bank of India I started a fixed deposit account with them. But I'm really not sure about the interest rates they provide me but it's good for both my FD accounts in this State bank of India as well as the other bank IOC.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 17, 2017
    • Axis Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      Even though I don't like the saving account with Axis bank as there is a minimum balance of Rs. 10000 has to be maintained I like the fixed deposit account with Axis bank as that process is simple and smooth and I have it for 2.5 years and also they pay good interests rates of 7.5%.
      Was this review helpful? 0
      , faridabad
      Reviewed on Nov 17, 2017
    • Axis Bank Fixed Deposit
      "Best"
      0.5 5.0/5 "Blown Away!"
      I am using Axis FD service for last 15 years. The amount differs for a fixed deposit. The interest rate was vey high than other nationalized banks. They providing more benefits to the customers. There is no issues with Axis and am completely satisfied with the service. The most interesting feature is they auto renew the policy or they pay extra charges for late 15 days.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 16, 2017
    • SBI Fixed Deposit
      "Average account to use"
      0.5 3.0/5 "Satisfactory"
      The rate of interest which I got from SBI Fixed deposit was good and I got the amount on time. The rate of interest was 9% when I got the fixed deposit from State bank at present it got reduced because the RBI new Scheme. The customer support need to be improved with SBI. I would say it is trusty worthy to have an FD account with SBI.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 16, 2017
    • SBI Fixed Deposit
      "Excellent in service , hike in interest rate"
      0.5 4.0/5 "Great!"
      I have invested in fixed deposit with the State bank of India, also the interest rate is depends for the fluctuation of market sector. I would like to say that the investments are really transparent with them, also I dont have any issues on it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 16, 2017
    • SBI Fixed Deposit
      "Fixed deposit"
      0.5 4.0/5 "Great!"
      SBI Fixed Deposit is the first thing that I would look out for, we can book the FD online, I even get the FD bond online it is created automatically too . They provide the best rate in the industry . Further more , we get the options to change the maturity instructions online too. Not sure about the tax benefit. When I placed a request for liquidation, I got my funds back immediately and this FD was opened a couple of years back.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2017
    • SBI Fixed Deposit
      "Average"
      0.5 3.0/5 "Satisfactory"
      I am having the fixed deposit account with the State bank of India and I would like to say that they are average one . I would like to say that everything could not be up to the mark. Online services are really good one with the State bank of India.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2017
    • andhra Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      From the Andhra bank, I am holding the fixed deposit account from the last three years of time. I would like to say that the response could be get improvised, also there are no worries on it. Its the typical government bank.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Nov 14, 2017
    • ICICI Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      I am holding the fixed deposit account with the ICICI bank from the last five years of time. I would like to say that the response is also good one and everything is up to the mark. I am really happy with the ICICI bank fixed deposit.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Nov 14, 2017
    • HDFC Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      I am having the fixed deposit account with the HDFC bank and am holding it from the last five years of time. I would like to say that the rate of interest was reduced around up to 7.5% as cumulative one, which is an average one.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Nov 14, 2017
    • andhra Bank Fixed Deposit
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I hold a Fixed deposit account with Andhra Bank and the banking process is really nice. The bank is very supportive and very beneficial too. I get a good rate of interest on this account and there are no charges related to this account. Overall no issues.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 13, 2017
    • review Fixed Deposit
      "Not too good on the rate"
      0.5 2.5/5 "Just OK"
      I have a fixed deposit with City union bank and the interest that they have for it is not a reasonable rate and i feel that they should be providing a better rate for it. The service was however good at the time of the account being open and the response received was good.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 11, 2017
    • SBI Fixed Deposit
      "Great experience"
      0.5 5.0/5 "Blown Away!"
      Liquidation is quite interesting with SBI because as soon as i placed a request for breaking my FD, in the next 2 minutes funds were sent to my account on time and it was simple too. Online I had a placed for the BREAKNG FD and foreclosure charges were very meager as they hardly charged rs 150 as the charge.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2017
    • HDFC Bank Fixed Deposit
      "Fixed deposit"
      0.5 5.0/5 "Blown Away!"
      HDFC Fixed Deposit is good, as every one can invest in FD the interest rate at that time was 6.5% for a short tenure. I am pretty sure for the long tenure they will provide tax benefits. I had placed a request for this FD through online through my account i can view my maturity information online. I remember placing a request for change of nominee online once.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2017
    • SBI Fixed Deposit
      "Not satisfied"
      0.5 2.5/5 "Just OK"
      I have a fixed deposit with State Bank Of India and i would definitely say that the experience has not been satisfactory. Being a government bank i feel that they are not focused on improvement and the service is not up to the mark. Their banking work is always delayed.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 09, 2017
    • Post Office Fixed Deposit
      "Good returns"
      0.5 4.5/5 "Excellent!"
      I had a Fixed Deposit with Post Office a few time back, and found the return to be pretty satisfying. I found the overall experience with them to be pretty good and didn't face any issue at all. I found this account to be good return for the investment I made.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Nov 08, 2017
    • DHFL Fixed Deposit
      "Good FD to have"
      0.5 3.0/5 "Satisfactory"
      I have a Fixed Deposit account with DHFL and felt the experience to be pretty good. I am expecting a very good return for the money I am investing in. I heard they have one of the best interest rate in the market. Overall the experience with them is good.
      Was this review helpful? 0
      , motihari
      Reviewed on Nov 07, 2017
    • SBI Fixed Deposit
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      As I have a savings account with State Bank of India which is being maintained for the last 4 years, I also started a fixed deposit account with State Bank of India. Their services are good and no problems with them so far and they are providing 8% to 10% as interest for the fixed deposit.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 07, 2017
    • Indian Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      I am having the fixed deposit account with the Indian bank and the services are good one with them. I have not faced any issues nor any drawback with the Indian bank system also I would like to comment that their online banking services are really good with them.
      Was this review helpful? 0
      , kanchipuram
      Reviewed on Nov 04, 2017
    • SBI Fixed Deposit
      "Good overall"
      0.5 3.0/5 "Satisfactory"
      Being a government sector bank, State Bank of India is a bit average. But overall it is okay. I hold a fixed deposit account and it was a hassles free process to open this account. There is a lock in period of one year. After a year once can choose to close it or continue.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 01, 2017
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