Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
  • loading

    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
     Loading your search... Loading your search...
  • Term Deposit is Rated as "Excellent!" by 1834 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

    Term Deposit Reviews

    • ICICI Bank Fixed Deposit
      "Great banking service"
      0.5 5.0/5 "Blown Away!"
      Totally I have 3 Fixed Deposit accounts with ICICI Bank. I am surprised where I can close my account by using online service. The interest rate was almost same like other public sector banks. No tax benefits, which are regular once here. I got a bonus points and very much happy with ICICI Service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 18, 2017
    • SBI Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      As I'm a long time customer with State bank of India for around 12 years and as I liked their banking services so I started a fixed deposit with State bank of India few years ago for 6 years as a tenure. I pay Rs. 10000 annually and I get 1 lakh at the end of the term.
      Was this review helpful? 0
      , faridabad
      Reviewed on Nov 18, 2017
    • 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
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.