Fixed Deposit: Did you Know

Vijaya bank introduces V-Utsav scheme

Vijaya Bank introduced V-Utsav (Gold), a 300-day term deposit scheme offering interest rate of 10.25 per cent per annum. ......

Karnataka Bank launches new term deposit

Karnataka Bank has launched a one-year deposit scheme called KBL-Varsha offering 10.60 percent interest rate, with effect from September 1. ......

Fixed Deposit: Overview

A fixed-income is a debt security for a specific period, usually issued by banks. A Fixed Deposit is like loaning the bank your money. In return, they pay you interest. FDs are the most popular investment vehicle for retail investors in India because investors find banks very convenient to deal with.

These deposits are perceived to be highly safe and sufficiently liquid. FDs can help you secure your hard earned money for a long duration while giving you higher risk-free returns on your money than a regular savings account.

Indian banks offer a wide variety of fixed deposit schemes to suit almost every need.

Fixed Deposit: Basics

What is a fixed deposit?

A fixed deposit is an account that allows you to deposit your money for a fixed period of time, earning you interest at a fixed rate. It gives you a higher rate of interest than a savings bank account ......

Who is eligible to apply for a fixed deposit account?

Any individual or institution is eligible to apply for the account. ......

How do I apply for an FD account?

You can get a bank FD at any bank. You have to open an FD account with the bank to make the deposit. Some banks may also insist that you maintain a savings account with them to operate an FD account. ......

Do I have to pay tax deducted at source (TDS) for FDs?

Tax is deducted at source on the interest accrued on FDs as applicable, as per the Income Tax Act, 1961. ......