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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% - 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% - 7.15% 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% - 6.65% 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

    • Central Bank of India Fixed Deposit
      "CBI is the best bank for Fixed Deposit"
      0.5 4.5/5 "Excellent!"
      HI! This is Santosh, I had been using from last 8 years with best service without any issue. This Bank Fixed Deposit rate of interest is higher then other banks. The Banking and services are good, There is no Fixed deposit breaking charges. I will recommend this Bank for the Best FD services.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 18, 2017
    • HDFC Bank Fixed Deposit
      "Go ahead with your choice"
      0.5 4.0/5 "Great!"
      I have the fixed deposit account with the HDFC bank and I been with them from the last three to four years of time. The rate of interest was reduced as of now but I have got it as fixed. Customer service and other things are really okay and I have not interacted with them.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 06, 2017
    • SBI Fixed Deposit
      "Wonderful "
      0.5 4.0/5 "Great!"
      I had the fixed deposit account with the State bank of India and the interest rate was around 6% to 7% before three years of time. Response and other aspects are good enough. Customer service was also good one and their online banking services are up to the mark.
      Was this review helpful? 6
      , visakhapatnam
      Reviewed on Jul 03, 2017
    • ICICI Bank Fixed Deposit
      "Its Good"
      0.5 4.0/5 "Great!"
      In terms of interest rate, ICICI IS providing lower benefits for Fixed deposit account. For premature they not calculating the proper interest rate. It would be better to give clear information about interest rate calculation within the period of transaction.
      Was this review helpful? 4
      , chennai
      Reviewed on Jun 30, 2017
    • SBI Fixed Deposit
      "Its Average"
      0.5 2.0/5 "Expected more"
      I am having recurring deposit with SBI, I opened the RD by visiting SBI branch. On the same day RD account got activated. But I felt interest rate is low they offering only 7.1% of interest, I have invested the amount of Rs. 1 lakh for the tenure of 15 month, after maturity of the RD. I would be getting the return around 1.08 lakh.
      Was this review helpful? 3
      , ahmedabad
      Reviewed on Jun 30, 2017
    • ICICI Bank Fixed Deposit
      "Good for tax saving "
      0.5 5.0/5 "Blown Away!"
      I have opened the fixed deposit through ICICI I mobile application, I have invested the amount of Rs.5000 for the tenure of five years. After the tenure I would be getting Rs.20,000 as a return. I could track the fixed deposit details over the netbanking.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jun 29, 2017
    • HDFC Bank Fixed Deposit
      "Best"
      0.5 4.0/5 "Great!"
      I do have fixed deposit account with the HDFC bank and the interest rate is common one with every bank like it used to get varied up to 0.5% . Penalty charges are nil with them for the premature withdraw, which is the really good one.
      Was this review helpful? 5
      , chennai
      Reviewed on Jun 22, 2017
    • SBI Fixed Deposit
      "Good Service"
      0.5 4.0/5 "Great!"
      When I have started to deposit the money I was getting good interest rate but know the rate of interest is decreased with SBI Fixed deposit. I have started the fixed deposit around 6 years ago with SBI. Initially I got around 9.5% as interest rate but now I am getting only 7.5% interest rate. The service with State is good.
      Was this review helpful? 6
      , bangalore
      Reviewed on Jun 22, 2017
    • Canara Bank Fixed Deposit
      "Good"
      0.5 2.5/5 "Just OK"
      I am having the fixed deposit account with the Canara bank and the rate of interest is around 8.5%, which was very lesser one on that time. Total tenure is around three years of time, also the penalty charges are not really huge. Customer service is not really up to the mark.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 20, 2017
    • IDBI Fixed Deposit
      "Good experience"
      0.5 5.0/5 "Blown Away!"
      I would suggest IDBI bank is the best one to get the fixed because of the good rate of interest . Customer service is good one and am with them from the last three years of time. Penalty charges are lesser one with the m for the premature withdraw.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 19, 2017
    • ICICI Bank Fixed Deposit
      "Good Indian bank"
      0.5 4.0/5 "Great!"
      I do have fixed deposit account with the ICICI bank and the interest rate is around 6.5% per annum , also the maturity period is also one year of time. Customer service is also a good one with the ICICI bank, also the response too. Online banking services are also working in good way and am very familiar with them till now.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jun 16, 2017
    • Axis Bank Fixed Deposit
      "Its good investment"
      0.5 4.5/5 "Excellent!"
      I have invested one lakh in fixed deposit with AXIS bank. Its going to matured in this august, Then I would be getting around Rs.1.12,000. I have opened this FD through online and I will be getting the amount same to my account. AXIS gave me premature withdrawal, I can close whenever I want.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 13, 2017
    • Canara Bank Fixed Deposit
      "For common man"
      0.5 5.0/5 "Blown Away!"
      I do have the fixed deposit account with the Canara bank and am using it from the last ten years of time. Customer service aspects are good one with them and the online banking services are not really working in a good according the new generation bankers. The interest rate is around 7.25% as of now.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 12, 2017
    • YES Bank Fixed Deposit
      "Wonderful "
      0.5 5.0/5 "Blown Away!"
      I have the fixed deposit account with the Yes bank and the interest rate is around 6.5% above and the customer service is not yet experienced because everything used to dealt with through online experience. I have not faced any server down issues with the Yes bank.
      Was this review helpful? 3
      , ghaziabad
      Reviewed on Jun 12, 2017
    • HDFC Bank Fixed Deposit
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the HDFC bank and the services are always an excellent one. I have opened the account on immediate basis like everything used to get happened in instant way. Rate of interest is around 6.5% and the response is an excellent one.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 09, 2017
    • Vijaya Bank Fixed Deposit
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I am having the fixed deposit account with the Vijaya bank and the interest rate is around 6.5% and the customer service is good one , also they are nearby my locality and also the access is really friendly. Online services are good one with the Vijaya bank.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 09, 2017
    • Central Bank of India Fixed Deposit
      "Fund transfer"
      0.5 0.5/5 "Unacceptable"
      The worst banking system I have ever seen. if i want to transfer amt to other bank through IFSC they can't detect the bank or automatically logged out .if I want current statement they can't.net banking automatically logged out.if i go for pass book entry server down problem. if I go to ATM only 2k available etc...
      Was this review helpful? 4
      , kolkata
      Reviewed on Jun 01, 2017
    • SBI Fixed Deposit
      "Very good in services"
      0.5 5.0/5 "Blown Away!"
      When I wanted to open a fixed deposit account at State Bank of India. I did not have to visit the bank. I opened the account online and though the rate of interest is not that appealing. I am happy with the overall experience and process and the convenient banking process.
      Was this review helpful? 11
      , guwahati
      Reviewed on May 31, 2017
    • 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? 6
      , 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? 4
      , hyderabad
      Reviewed on May 24, 2017
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    Term Deposit is Rated as "Excellent!" by 1757 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.

    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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