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    Term Deposit

    We found 111 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% - 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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  • Term Deposit 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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    Term Deposit is Rated as "Excellent!" by 1739 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    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.

    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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