Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
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% - 7.8% 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 Fixed Deposit is Rated as "Excellent!" by 1864 Users
    Fixed Deposit BYTES FROM OUR KITCHEN

    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

    • Indian Bank Fixed Deposit
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have a Fixed Deposit with Indian bank from last 4-5 years, the services provided are very good when compared to all other banks. I invested an one time amount of Rs 10 lakhs. Customer service part was fine and their response is prompt. There are no additional charges and the maturity period is after 9 years.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 19, 2018
    • Punjab National Bank Fixed Deposit
      "Fixed deposit with PNB"
      0.5 5.0/5 "Blown Away!"
      I hold a fixed deposit with PUNJAB NATIONAL BANK. The rate of interest is 4.5% for one year. Even if i withdraw with in the Fixed Deposit period they do not apply any charges. The customer service and response with the fixed deposit account is great.
      Was this review helpful? 0
      , noida
      Reviewed on Jan 11, 2018
    • ICICI Bank Fixed Deposit
      "Average"
      0.5 4.0/5 "Great!"
      I am having the fixed deposit account with the ICICI bank and the interest rate is around 6.5% and the customer service is good one for me with them. I would like to say that the response is above average one for me with the ICICI bank.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 10, 2018
    • Vijaya Bank Fixed Deposit
      "Happy service"
      0.5 4.0/5 "Great!"
      My fixed deposit account was maintained with Vijaya Bank. Its a one time investment of 3L. The branch is near to my place and they send the statements to my email address. They have guided me on online facilities, they were really helpful to me.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 02, 2018
    • HDFC Bank Fixed Deposit
      "FD with HDFC"
      0.5 4.0/5 "Great!"
      I have opened a fixed deposit account with HDFC bank. They are providing good interest for fixed deposit. The interest rte is 6.75% annually. The duration for my FD is for 12 months. If i withdrew with in the duration then some charges will be applicable which is around 1 to 2% of the principal amount.
      Was this review helpful? 0
      , thane
      Reviewed on Dec 30, 2017
    • HDFC Bank Fixed Deposit
      "Better"
      0.5 4.0/5 "Great!"
      I had opened a Fixed Deposit account with HDFC Bank through online portal. Earlier they provided higher rate of interest now it was come down to 6.9%. Whenever I call the customer support they respond properly and IVR system is good. The net banking features are good.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Dec 29, 2017
    • SBI Fixed Deposit
      "Good Savings"
      0.5 4.0/5 "Great!"
      I have invested Rs. 3.6 lakhs in SBI fixed deposit, it has the locking period of 10 years and one more FD for 2 years for the amount of Rs. 1.5 lakhs. They are providing good interest, I don't have any issue. Customer service is not good, but bank staff are very cooperative they immediately the resolve my queries.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 29, 2017
    • SBI Fixed Deposit
      "Excellent banking"
      0.5 5.0/5 "Blown Away!"
      I have opened a fixed account with State Bank of India.I have been banking with them for last four months.I get a good rate of interest of 6.5%.I should maintain a minimum balance of 25,000.The banking staffs response is good and prompt.Its hassle banking with them.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 29, 2017
    • HDFC Bank Fixed Deposit
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have a fixed deposit with Hdfc,the service was good. I use Hdfc fixed deposit online application which was easy to use still I use to visit their branch directly to deposit it has been 20 years I have taken the fixed deposit with Hdfc it was a fine experience with Hdfc fixed deposit service.
      Was this review helpful? 4
      , mumbai
      Reviewed on Dec 26, 2017
    • Axis Bank Fixed Deposit
      "Good Return"
      0.5 3.0/5 "Satisfactory"
      I had a good investment made an investment in Axis Bank through my Fixed Deposit Account with them. They gave me an interest rate of 8.25%, which I feel is one of the best in the Industry. I took it for a 2 years period and had the option of closing it even before the maturity.
      Was this review helpful? 6
      , mumbai
      Reviewed on Dec 26, 2017
    • ICICI Bank Fixed Deposit
      "Its Better"
      0.5 4.0/5 "Great!"
      ICICI is also good based on the my concern, one month back only I have deposit some amount in FD account. But interest rate is less around 7.25% for senior citizen for the tenure of one year. I have opened FD through offline, I went the bank and submitted KYC . But I could track my FD transaction through online banking.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 22, 2017
    • Karnataka Bank Fixed Deposit
      "Good "
      0.5 5.0/5 "Blown Away!"
      Karnataka Bank fixed deposit interest rate is good than other banks, they are providing 7.35% of interest for senior citizen. I have went to the branch they provided hassle customer satisfaction. I took FD before two months with this bank for the tenure of one year.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 22, 2017
    • Punjab National Bank Fixed Deposit
      "Average Investment"
      0.5 3.0/5 "Satisfactory"
      I put a decent amount of my Money into Fixed Deposit and PNB looked to be a perfect fit for that. I got Interest return of 7%, which I feel is quite good compared to the Market standards. The best thing about this Investment is that I can take the whole amount out of the FD any time I want even before maturity.
      Was this review helpful? 5
      , new delhi
      Reviewed on Dec 21, 2017
    • Karnataka Bank Fixed Deposit
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had a Fixed Deposit account with Karnataka Bank. It was taken last year and closed this October 2017. FD is not matured, If I continue paying it my IT returns will go high so decided to closed this account. I have deposited 4L rupees. The customer service and response was up to the mark.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 19, 2017
    • SBI Fixed Deposit
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      I am able to do all my transactions online at State bank of India. I have a fixed deposit account and the process is easy. The features are good and when I contact them they are supportive. The services at the bank can be more proactive and quick to respond.
      Was this review helpful? 12
      , hyderabad
      Reviewed on Dec 14, 2017
    • HDFC Bank Fixed Deposit
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I am having the fixed deposit account with the HDFC bank and the online banking services are good one too. I am happy with the HDFC bank till now. Online banking services are really good one with the HDFC bank.
      Was this review helpful? 9
      , bangalore
      Reviewed on Dec 07, 2017
    • Citibank Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the CITI bank and the rate of interest is lesser one . I would like to say that the online banking services are good one too and am happy with the deposits in CITI bank.
      Was this review helpful? 3
      , bangalore
      Reviewed on Dec 06, 2017
    • Lakshmi Vilas Bank Fixed Deposit
      "Better safety locker"
      0.5 5.0/5 "Blown Away!"
      Based on my savings account , I have got the Fixed deposit from the Lakshmi vilas bank. I have also got the safety locker with the Lakshmi vilas bank. I have this Fixed deposit for past 6months. I get the average interest rate with the Lakshmi vilas fixed deposit.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 05, 2017
    • review Fixed Deposit
      "Good Protection for future"
      0.5 4.0/5 "Great!"
      I invested 4 lakh in FD with Vishweshwar Sahakari bank, they are providing 8.5 to 9% of interest for the tenure period of 13 months, again reinvest in FD. Initially I went the branch and opened the FD account on same day or else they consider the maturity based on the date opened.
      Was this review helpful? 2
      , pune
      Reviewed on Dec 04, 2017
    • HDFC Bank Fixed Deposit
      "FD is pretty good"
      0.5 5.0/5 "Blown Away!"
      The return in this Bank's Fixed Deposite is pretty good. I believe their customer service is good. The good thing about this account is that I can take the money even during pre-mature stage. It's one of the good investment that I have made recently.
      Was this review helpful? 4
      , new delhi
      Reviewed on Dec 01, 2017
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