Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
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    We found 112 Term 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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  • Term Deposit Reviews

    • SBI Fixed Deposit
      "My FD"
      0.5 4.0/5 "Great!"
      SBI FD is fine i am holding this SBI FD for about 6 years no drawback nor any Challenges. the rate of interest has come down i have started 9.25% but this year 6.5% flat. it is very easy to book FD online liquidation can be done through online option thee is an option to transfer the amount directly
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 21, 2017
    • Federal Bank Fixed Deposit
      "Nominal interest"
      0.5 4.0/5 "Great!"
      I have invested Rs.50,000 in Federal Bank FD account, it has the tenure of five years, they told they would provide 6.5% of interest for the fixed deposit account. It is not that much great. I am an existing customer of the bank, hence I opened FD with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 20, 2017
    • HDFC Bank Fixed Deposit
      "Its Convenient"
      0.5 5.0/5 "Blown Away!"
      I have taken Fixed deposit from HDFC, I have invested Rs. 10 Lakhs for the tenure of one year, I went to the branch and opened the FD account, my relationship manager helped to open it within two days of time. They are providing 7.5% of interest of one year but I could withdrawal it anytime but some charges applicable.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 20, 2017
    • HDFC Bank Fixed Deposit
      "Good for deposits "
      0.5 5.0/5 "Blown Away!"
      We can save and have fixed deposit with less rate of interest in HDFC bank they give benifiatials based on the amount that we deposit .We can with draw and the interest will be added with the minimal balance .I have been using this bank services for a longer time its good i with draw when i need with out any hassle .
      Was this review helpful? 0
      , gurgaon
      Reviewed on Sep 16, 2017
    • Lakshmi Vilas Bank Fixed Deposit
      "Good savings"
      0.5 5.0/5 "Blown Away!"
      I have invested Rs. 3 lakhs it has the tenure one year,I am holding Fixed deposit around Rs. 3 months. After maturity I well receive the interest of 8% and investment amount credits to my account, I am working as a staff in the same bank, hence they provides 8% as a staff for other they give 7% and for senior citizen 7.5% of interest.
      Was this review helpful? 0
      , rajapalayam
      Reviewed on Sep 13, 2017
    • SBI Fixed Deposit
      "Good investment"
      0.5 5.0/5 "Blown Away!"
      I have invested some amount in SBI fixed deposit, last year they gave me 7.5% of interest on it , its has the tenure of one year. Every year I used to go to the home branch to renew the FD, bank response is also quite good. But its not so beneficial, if I would have invest in mutual fund I would have got some extra benefits.
      Was this review helpful? 0
      , gwalior
      Reviewed on Sep 12, 2017
    • ICICI Bank Fixed Deposit
      "FD online"
      0.5 5.0/5 "Blown Away!"
      I can book Fixed Deposit online using ICICI Bank account it is very easy to do the same . I am holding RD account with ICICI for the past 4 years. I do get some tax benefit here. I do have options online for breaking FD.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Sep 12, 2017
    • HDFC Bank Fixed Deposit
      "Banking is good"
      0.5 4.5/5 "Excellent!"
      Very easy to bank with HDFC bank as I hold my salary account with them and I know how the bank functions. The bank executives treat you well. One can place the request for liquidation online and it hardly takes about 2 to 3 days of time for the liquidation.
      Was this review helpful? 0
      , jaipur
      Reviewed on Sep 12, 2017
    • ICICI Bank Fixed Deposit
      "EXCELLENT SERVICE"
      0.5 4.5/5 "Excellent!"
      Excellent service from ICICI always ,they use the technology in a right way transactions are also equally fast . I also use their online application which was also user friendly ,ATM services were also nearby my location so overall it is a satisfactory service from them .
      Was this review helpful? 0
      , noida
      Reviewed on Sep 11, 2017
    • Canara Bank Fixed Deposit
      "Its okay"
      0.5 5.0/5 "Blown Away!"
      Good to invest in CANARA BANK FD. I feel good banking with them. I am holding this FD for a long time. Its very much convenient. Their branch is in my campus so it is very much easy to walk in to the branch to place a request. They took around one day to complete the process even the documents required too was very simple.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 08, 2017
    • SBI Fixed Deposit
      "BEst option for future"
      0.5 5.0/5 "Blown Away!"
      I had invested in SBI FD and this was offered for a period of one year. I had opted it for the maximum tenure period . I had broken that FD for my wedding and I earn good rate of interest on this. The penalty charges levied was not too much and it was kind of okay.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 07, 2017
    • Karur Vysya Bank Fixed Deposit
      "Its Average"
      0.5 3.5/5 "Pretty good"
      I opened the fixed deposit in KVB which is located in my native, interest rate is same like other banks. Customer service is not userfriendly, when I forgot the password to log in my account, I called to the customer care but they didn't give any solution they asked me to visit home branch. But I was living in different location but they did not understand that, they dont have any other option to reset my password. Hence I had withdraw Rs. 2 lakhs from FD account, remaining Rs. 1 lakh was left there.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 07, 2017
    • Punjab National Bank Fixed Deposit
      "PNB is my bank"
      0.5 5.0/5 "Blown Away!"
      PNB is my bank as I worked as a Senior Manager there so I know how the bank works. , Interest rate offered by them was the 1.5% extra than the normal interest rate for FD because I am staff of that bank I get 6.60% for 5years. For senior citizen they give 6.25% plus some additional interest too.
      Was this review helpful? 0
      , jalandhar
      Reviewed on Sep 05, 2017
    • HDFC Bank Fixed Deposit
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the HDFC bank for the last one year of time.Rate of interest is lesser one, also the customer service is very good. Response is very fine one for me like it took only half an hour of time to open the account.
      Was this review helpful? 0
      , lucknow
      Reviewed on Aug 26, 2017
    • Punjab and Sind Bank Fixed Deposit
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the Punjab and sind bank and the interest rate is fine one but am really not aware of it. The tenure is around for seven to eight years of time. Response is very good one with them.
      Was this review helpful? 0
      , meerut
      Reviewed on Aug 23, 2017
    • SBI Fixed Deposit
      "Extremely super"
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the State bank of India and its totally, while it comes to the response. With every aspects , State bank of India is doing in good way even in the part of rate of interest for deposits too like they are up to the mark.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 23, 2017
    • ICICI Bank Fixed Deposit
      "Great Job"
      0.5 5.0/5 "Blown Away!"
      I am having fixed deposit account with the ICICI bank and the rate of interest is around 6.5%, also am not looking the interest rate to compare with other bankers. Customer service is fine one for me and the response is good, also the tax is applicable on the returns.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 21, 2017
    • Bank Bazaar Fixed Deposit
      "Credit card application"
      0.5 5.0/5 "Blown Away!"
      Personal loan has been approved, I didn't have a credit card.My credit score is 750+ as per informed by credit mantri.I have got separate responses from SBI, HDFC,Credit mantri ,Bankbazar.I was called by banking sector formally and one of the bank has responded me on 9144466511800.
      Was this review helpful? 0
      , other
      Reviewed on Aug 19, 2017
    • Kotak Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      Of course even foreclosure of FD, can be done through the mobile application of KOTAK . Also it is easy to compare the rates on the net banking and it is excellent too. When I placed a request for liquidation it takes about 2 hours of time and it is very easy to change the maturity instruction through the mobile app.
      Was this review helpful? 0
      , kolkata
      Reviewed on Aug 17, 2017
    • SBI Fixed Deposit
      "Good FD process"
      0.5 5.0/5 "Blown Away!"
      I am very much comfortable with the FD PROCESS followed by SBI . All I had to do is, I have to just go online and place a request for FD. The information about the FD interest rate are also available online and it is very easy to find that too. No tax benefits and any time i can liquidate the funds by breaking the funds online , the same is not the case with other banks where there would be charge else it would be done the next day with SBI it is done on the same day and that is the biggest advantage here.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 16, 2017
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    Term Deposit is Rated as "Excellent!" by 1787 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    Term Deposit

    What is term deposit

    Term deposits lock the deposits for a fixed period at a preset interest rate. A term deposit or fixed deposit is a sought-after financial instrument by millions of Indians owing to the various benefits it offers such as guaranteed returns, low risk, higher interest rate than savings account, loan facility and higher interest rates for senior citizens among many others. Fixed deposits are offered by all leading banks in india such as ICICI Bank, State Bank of India, HDFC Bank, IDBI Bank and Corporation Bank and among many others.

    Term Deposit

    General features of term deposits

    The salient features of term deposits are as follows:

    • Fixed deposits are typically availed by conservative investors with a low risk appetite
    • Fixed deposits are a traditional form of investment opted by millions across the country and therefore, easily accessible and time-tested
    • A relatively ‘safe’ investment in that the interest rate on offer does not change for the nominated term
    • Fixed deposits offer higher rates of interest compared to savings bank accounts
    • It is important to note that fixed deposits up to Rs.1 lakh are insured under the Deposit
    • Insurance and Credit Guarantee Scheme of India
    • Fixed deposits are usually offered by banks for varying tenures ranging from seven days to 10 years or more
    • Investors can open a fixed deposit account for a sum as low as Rs.100
    • An investor can choose to withdraw his money at the time of any financial crisis, notwithstanding the penalty, unlike other investments such as real estate which can be time-consuming in terms of delivering cash at short notice
    • Fixed deposits have low liquidity owing to a lock-in period. However, they encourages savings habit amongst investors
    • Investors can take a loan against their fixed deposits, if need be. In most cases, banks offer up to 90% of the principal as loan amount
    • Most leading banks offer higher interest rates on fixed deposits for senior citizens
    • The interest rates on fixed deposits are revised every year by banks depending upon the overall monetary policy laid down by the RBI
    • The interest earned on fixed deposits is taxable with the exception of tax saver fixed deposits offered by many banks
    • A fixed deposit cannot be withdrawn before its maturity or only after a fixed period of time. Most banks levy a penalty for premature withdrawal of deposit amount
    • Fixed deposits offer low returns compared to investment in equity markets
    • Fixed deposits offer little protection against inflation in that the deposit amount at maturity may not be substantial when adjusted for inflation

    Types of term deposits

    Various banks offers different types of term deposits as listed below:

    1. Short-term and long-term fixed deposits
    2. Tax-saver term deposits
    3. Senior citizen term deposits
    4. Recurring deposits
    5. Cumulative and non-cumulative fixed deposits
    6. Post office time deposits
    7. Company fixed deposit schemes
    8. Sweep-in facility
    9. Special deposit schemes for children
    1. Short-Term and Long-Term Fixed Deposits

      Short term fixed deposits offer safety and assured returns. Short term fixed deposits are held for 30 days or below. The rate of interest* offered for deposits with tenures ranging from 7 to 14 days and 14 to 30 days hovers around 4 to 5% p.a for most banks. For tenures ranging from three months to 1 year, the interest rates on offer may vary from 7% p.a to 7.25% (Domestic/NRO/NRE deposits for deposits of Rs.1 crore and above but below Rs.5 crores). For long term fixed deposits of 1 to 5 years, the interest rates may vary from 7.5% p.a to 8.5% p.a. In many cases, the interest is calculated on a quarterly basis for accounts with tenures of 6 months or above. As a result, interest is calculated on a simple interest basis for deposits with tenures under 6 months in such cases.

    2. Tax-Saver Term Deposits

      Resident individuals and Hindu Undivided families are eligible for tax saver fixed deposits. Tax saver deposits are offered by many leading banks in India such as HDFC and Kotak Mahindra among others. Tax saver fixed deposits can be booked on a quarterly and monthly pay-out basis for a lock-in period of 5 years (or up to 10 years). Depositors can save on tax on deposits up to Rs.1.5 lakh. In case of joint holders, the tax benefits are available to the first account holder as per 80C of the IT Act, 1961. Tax at Source is deducted as per prevailing income tax regulations. The interest rate* on offer in many cases, will be the deposit rate offered for a 5 year period. Many banks send a TDS certificate to their deposit holders every quarter (on TDS deductions) during a financial year.

    3. Senior Citizen Term Deposits

      In most cases, all resident Indians above 60 years can avail of senior citizen term deposit schemes. A senior citizen who wishes to open a fixed deposit account has to submit a proof of his age. Most banks offer an additional 0.5% interest to senior citizens over the rate offered to regular citizens on fixed deposits. Nomination and premature withdrawal is allowed by most banks. The booking period may range from one week to 10 days. Deposit holders can choose to receive their interest on a quarterly and monthly basis or till maturity. Some banks offer greater liquidity by providing sweep-in facility and overdraft facilities for senior citizen fixed deposits. In some cases, senior citizen fixed deposits can also be tax saver deposits under section 80C of the IT Act.

    4. Recurring Deposits

      In most cases, banks offer interest rates on par with regular fixed deposits for recurring deposits which allow customers to build significant savings by small investments every month. In most cases, senior citizens can avail of an additional 0.50% on recurring deposits as well. Resident individuals, societies, Hindu Undivided Families and public limited companies are eligible to avail of recurring deposits. Recurring deposits which offer guaranteed returns can be opened with a minimum deposit of Rs. 100 for up to 10 years. Many banks allow premature withdrawals on recurring deposits but not partial withdrawals. In most cases, TDS is deducted as per the section 194A of the IT Act. Some banks do not allow a customer to open a recurring account unless the latter has a savings bank account. Also, PAN may be mandatory to book a recurring deposit account. Many banks such as HDFC and Kotak Mahindra do not allow alterations in the instalment amount, tenure and due date of instalment. Furthermore, the interest is paid only upon maturity of the account. Some banks such as HDFC do not pay any interest to the depositor on his recurring deposit if the account is closed within the lock-in period of one month.

    5. Cumulative and Non-Cumulative Fixed Deposits

      In a cumulative fixed deposit scheme, there is no fixed interest payable over a quarterly, half-yearly or an annual basis. In other words, the interest is compounded quarterly or yearly and payable on maturity of an account with the principal. However, in a non-cumulative fixed deposit scheme, the interest is paid on a quarterly, monthly or an annual basis. Furthermore, the interest earned (monthly) from a non-cumulative fixed deposit scheme is taxable. In a cumulative fixed deposit scheme, the maturity period may range from 6 months to 10 years. Cumulative fixed deposit schemes are suitable for individuals who do not require regular interest payment. As a result, cumulative fixed deposit schemes are also known as money multiplier schemes. On the other hand, non-cumulative fixed deposit schemes more suitable for pensioners in need of periodical interest payment.

    6. Post Office Time Deposits

      There are over 93,55,825 post office time deposit accounts across India. This scheme offers various benefits such as portability of account from one post office to another. The tenures offered by post office time deposit accounts range from 1 to 5 years. Any resident Indian can open a post office time deposit accounts at any head post office or general post office after filling out the opening form provided by the post office. Interest is paid on an annual basis but is calculated on a quarterly basis. A post office time deposit account under five years is eligible for tax benefits under section 80C of the Income Tax Act, 1961. The minimum amount of deposit under this scheme is Rs.200 while there is no limit to the maximum amount. Under this scheme, a single account can be converted into a joint account and vice-versa. The current interest rates offered are 7.1% (1 year), 7.2% (2 years), 7.4% (3 years) and 7.9% (5 years) respectively.

    7. Company Fixed Deposit Schemes

      Fixed deposits are offered by banks and NBFCs (Non-Banking Finance Companies). Typically, corporate/company fixed deposit schemes offer higher rates of interest than bank fixed deposits. Many companies offer fixed deposits at competitive interest rates to raise capital. In some cases, a company which has a low credit rating may offer higher interest rates to attract investors. Consequently, there is a view that investors should stay away from companies which offer an interest rate of above 15%. 'A' rated NBFCs are eligible to accept deposits as per RBI regulations. Most company deposit schemes have an initial lock-in period of three to six months. According to analysts, it is more prudent for investors to opt for shorter duration of deposits (1 to 3 years) to effectively review a company's ratings and servicing. Mahindra Finance Fixed Deposit scheme, Shriram Transport Finance Company and PNB Housing Finance among others are some of the leading company deposit schemes in India.

    8. Sweep-In Facility

      Many banks such as Kotak Mahindra and HDFC offer special fixed deposit schemes known as ‘sweep-in facility’ wherein depositors can link their fixed deposit accounts to their current or savings accounts. The principal of the fixed deposit may be considered for the sweep-in facility. One of the advantages of this facility is that any deficit in a savings account need not be a cause of concern in that the exact amount is withdrawn from the fixed deposit account. Furthermore, deposits are broken in units of Rs.1, reducing loss of interest. There is a higher interest rate on a deposit till it is swept-in while the remaining amount in a fixed deposit will accrue interest. Some banks allow greater flexibility in terms of altering tenure, principal amount, maturity period and roll over period among others.

    9. Special Deposit Schemes for Children

      Balika Shiksha Scheme and Sishu Mangal deposit scheme are deposit schemes for children launched by PNB and Allahabad Bank respectively. Under the PNB Balika Shiksha Scheme, girls who pass class 8 are eligible. The deposit under the said scheme can be withdrawn when the girl attains 18 years. Also, interest under this scheme is exempt from income tax. The Allahabad Bank Sishu Mangal deposit scheme is a fixed deposit scheme for minors aged between 1 and 15 years. A guardian has to open an account under this scheme. There is a limit on the maximum amount which can be deposited under this scheme.

    Faqs of Term Deposit

    What is a term deposit account?

    A term deposit account offers interest on the principal amount deposited by the account holder for a fixed term. The deposited amount in the term deposit account cannot be liquidated before the end of the term without a notice or loss of potential interest. A term deposit account can be opened for a fixed term where the maturity ranges from months to years. Based on the type of the account, the account holder can choose to receive the interest at monthly or quarterly intervals or on the maturity of the account. Whether it is an individual, partnership firm, private and public limited company, society, trust, HUF/specified association or any other establishment, the term deposit can be opened with various types of financial institutions, banks, credit unions, and building societies. The rate of interest in a term deposit account is fixed for a predetermined period of term.

    What is meant by domestic term deposit?

    A domestic term deposit is a product from the State Bank of India (SBI) that offers interest to the account holder for depositing a certain amount money for a fixed term. A domestic account allows liquidity before the maturity at a loss of interest. The bank offers various types of term deposits that can be opened for a term ranging from few days to a maximum of 10 years. The account offers different enhanced interest rates for senior citizens. At the end of the term, the account holder will be benefited with the interest along with the principal amount. He/she may choose to renew or close the account at maturity.

    Some Special Term Deposit Schemes

    News About Term Deposit

    • SBI Reduces Term Deposit Interest Rates

      SBI has reduced the interest rates of its term deposits. Now, the interest rate on deposits of 456 days to below 3 years is 6.75% and the interest rate on deposits of 180 days to below 1 year is 6.5%. The rates for the same tenure for senior citizens will be 7.25% and 7%.

      16th March 2017

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