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

    We found 111 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% - 8.15% 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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  • Short Term FD Reviews

    • 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? 1
      , 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? 1
      , hyderabad
      Reviewed on May 24, 2017
    • 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? 3
      , 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
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    Short Term Fixed Deposit is Rated as "Excellent!" by 1739 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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