• SIDBI Fixed Deposit (FD)

    Small Industries Development Bank of India (SIDBI) offers many types of fixed deposit (FD) schemes that caters to the investment needs of various categories of investors. SIDBI fixed deposit rates are very competitive and have been awarded an ‘AAA’ by CARE, a credit rating agency.

    Types of fixed deposits

    1. Cumulative FD: In the case of cumulative fixed deposits, the interest payment is made at the time of maturity along with the principal.
    2. Annual income: Interest payment will be made to the deposit holder at the end of each year.
    3. Quarterly income: Interest amount will be credited to the bank account of the customer on a quarterly basis.

    SIDBI FD: Features

    • The minimum deposit amount is Rs.10,000, after which deposits can be made in multiples of Rs.1,000.
    • An FD should be opened for a minimum tenure of at least 1 year, while the maximum tenure can go up to 5 years.
    • All senior citizens will get an additional interest rate of 0.50% p.a.
    • Depositors can avail a nomination facility on both single and joint accounts.
    • Interest payments are made on quarterly or yearly basis, or at the time of maturity.
    • Cumulative and non-cumulative SIDBI FD schemes available.

    SIDBI Fixed Deposit: Eligibility Criteria

    • All resident individuals
    • Minors along with their legal guardians
    • Hindu Undivided Family (HUF)
    • Partnership firms
    • Companies
    • Body corporate, societies, association of persons

    Documents Required

    It is important for depositors and all prospective customers to know that PAN card details should be submitted at the time of opening a fixed deposit along with other documents.

    Any one of the following documents can be submitted to open an FD at SIDBI for both identity and address proof purposes:

    Senior citizens (Age proof must be validated) Mandatory document For resident individuals (Address proof) For resident individuals (ID proof)
    Passport
    PAN Card
    Voter ID
    DL
    Aadhaar
    Ration card
    Pension book
    Birth certificate
    LIC policy
    PAN Card
    Telephone or mobile bill
    Bank statement
    Electricity bill
    Aadhaar
    Ration card
    Passport
    PAN Card
    Voter ID
    Driving License
    Aadhaar

    How to apply for SIDBI FD

    Step 1: Download the online application form from here https://fdappl.sidbi.in/FixedDeposit/welcomeLink.action

    Step 2: Register and create a user ID, post which you will be able to get access to the online FD application form.

    Step 3: To register, you will have to fill out the following details as shown here https://fdappl.sidbi.in/FixedDeposit/regstrtn.action

    Applicant name Fill in your name
    Email address Key in registered email address
    Password Create a password
    Confirm password Key in password again
    captcha code Enter the code displayed

    Step 4: Save the data and proceed to get access to the online application form.

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