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Fixed Deposits are deposits where a particular sum of money is invested for a fixed duration. The duration of Fixed Deposits is flexible. It can range from 7 days to 10 years. The rate of interest for the Fixed Deposit depends on the period for which the funds are locked in.
Just like a Recurring Deposit, a Fixed Deposit amount cannot be withdrawn until the maturity period. Premature withdrawal is allowed after the bank charges a penalty in the rate of interest.
The minimum amount of investment for a Fixed Deposit is Rs. 5,000. The rate of interest on the Fixed Deposit ranges from 5% to 9%. You can also calculate your rate of interest using the FD calculator.
Some banks provide the option of a sweep-out facility where the amount above a particular balance in a Savings Account is automatically converted to a Fixed Deposit. This helps the Savings Account earn more interest.
| HDFC Deposits Interest Rates From 01-03-2023 | |||||
|---|---|---|---|---|---|
| Period | Monthly Income Plan | Quarterly Option | Half - yearly | Annual Income | Cumulative Option |
| Individuals | |||||
| 12 Months | 6.85% | 6.90% | 6.95% | - | 7.10% |
| 15 Months | 7.20% | 7.25% | 7.30% | - | 7.45% |
| 18 Months | 6.85% | 6.90% | 6.95% | - | 7.10% |
| 22 Months | 7.25% | 7.30% | 7.35% | 7.50% | 7.50% |
| 24 Months | 7.10% | 7.15% | 7.20% | 7.35% | 7.35% |
| 30 Months | 7.10% | 7.15% | 7.20% | 7.35% | 7.35% |
| 33 Months | 7.30% | 7.35% | 7.40% | 7.55% | 7.55% |
| 36 Months | 7.15% | 7.20% | 7.25% | 7.40% | 7.40% |
| 44 Months | 7.25% | 7.30% | 7.35% | 7.50% | 7.50% |
| 45 Months | 7.45% | 7.50% | 7.55% | 7.70% | 7.70% |
| 48 Months | 7.45% | 7.50% | 7.55% | 7.70% | 7.70% |
| 60 Months | 7.45% | 7.50% | 7.55% | 7.70% | 7.70% |
| 66 Months | 7.40% | 7.45% | 7.50% | 7.65% | 7.65% |
| 75 Months | 7.70% | 7.75% | 7.80% | 8.00% | 8.00% |
| Senior Citizen | |||||
| 12 Months | 7.10% | 7.15% | 7.20% | - | 7.35% |
| 15 Months | 7.45% | 7.50% | 7.55% | - | 7.70% |
| 18 Months | 7.10% | 7.15% | 7.20% | - | 7.35% |
| 22 Months | 7.50% | 7.55% | 7.60% | 7.75% | 7.75% |
| 24 Months | 7.35% | 7.40% | 7.45% | 7.60% | 7.60% |
| 30 Months | 7.35% | 7.40% | 7.45% | 7.60% | 7.60% |
| 33 Months | 7.55% | 7.60% | 7.65% | 7.80% | 7.80% |
| 36 Months | 7.40% | 7.45% | 7.50% | 7.65% | 7.65% |
| 44 Months | 7.50% | 7.55% | 7.60% | 7.75% | 7.75% |
| 45 Months | 7.70% | 7.75% | 7.80% | 7.95% | 7.95% |
| 48 Months | 7.70% | 7.75% | 7.80% | 7.95% | 7.95% |
| 60 Months | 7.70% | 7.75% | 7.80% | 7.95% | 7.95% |
| 66 Months | 7.65% | 7.70% | 7.75% | 7.90% | 7.90% |
| 75 Months | 7.95% | 8.00% | 8.05% | 8.25% | 8.25% |
| Note- 0.05% extra for Online application/ renewals | |||||
| Shriram Interest Rates From 10-03-2023 | ||||||
|---|---|---|---|---|---|---|
| Period | Monthly Income Plan | Quarterly Option | Half - yearly Option | Annual Income Plan | Cumulative Option | Cumulative (Effective Yeild) |
| Individuals | ||||||
| 12 Months | 7.34% | 7.39% | 7.46% | 7.60% | 7.60% | 7.60% |
| 18 Months | 7.48% | 7.53% | 7.60% | 7.75% | 7.75% | 7.90% |
| 24 Months | 7.76% | 7.82% | 7.89% | 8.05% | 8.05% | 8.37% |
| 30 Months | 7.90% | 7.96% | 8.04% | 8.20% | 8.20% | 8.71% |
| 36 Months | 7.95% | 8.01% | 8.09% | 8.25% | 8.25% | 8.95% |
| 42 Months | 8.00% | 8.06% | 8.14% | 8.30% | 8.30% | 9.21% |
| 48 Months | 8.04% | 8.10% | 8.18% | 8.35% | 8.35% | 9.46% |
| 50 Months | 8.18% | 8.24% | 8.33% | 8.50% | 8.50% | 9.71% |
| 60 Months | 8.18% | 8.24% | 8.33% | 8.50% | 8.50% | 10.07% |
| Senior Citizen | ||||||
| 12 Months | 7.84% | 7.90% | 7.97% | 8.13% | 8.13% | 8.13% |
| 18 Months | 7.98% | 8.04% | 8.12% | 8.28% | 8.28% | 8.45% |
| 24 Months | 8.26% | 8.32% | 8.41% | 8.59% | 8.59% | 8.95% |
| 30 Months | 8.40% | 8.46% | 8.55% | 8.74% | 8.74% | 9.32% |
| 36 Months | 8.45% | 8.51% | 8.61% | 8.79% | 8.79% | 9.59% |
| 42 Months | 8.50% | 8.57% | 8.66% | 8.84% | 8.84% | 9.87% |
| 48 Months | 8.54% | 8.61% | 8.70% | 8.89% | 8.89% | 10.15% |
| 50 Months | 8.68% | 8.74% | 8.83% | 9.00% | 9.00% | 10.21% |
| 60 Months | 8.68% | 8.75% | 8.84% | 9.04% | 9.04% | 10.83% |
| Note- 0.10% extra for Women | ||||||
+91 98226 33076
D2/303 Sunder Samruddhi
Near Kailash Jeevan factory
Dhayri Pune 411041
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