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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Just like a Recurring Deposit, a Fixed Deposit amount cannot be withdrawn until the maturity period.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.
| Shriram Interest Rates From 25-10-2023 | ||||||
|---|---|---|---|---|---|---|
| Period | Monthly Income Plan | Quarterly Option | Half - yearly Option | Annual Income Plan | Cumulative Option | Cumulative (Effective Yeild) |
| Individuals (Cheque Name-"Shriram Finance Ltd") | ||||||
| 12 Months | 7.53% | 7.58% | 7.65% | 7.80% | 7.80% | 7.80% |
| 18 Months | 7.67% | 7.72% | 7.80% | 7.95% | 7.95% | 8.11% |
| 24 Months | 7.81% | 7.87% | 7.94% | 8.10% | 8.10% | 8.43% |
| 30 Months | 8.00% | 8.06% | 8.14% | 8.30% | 8.30% | 8.83% |
| 36 Months | 8.18% | 8.24% | 8.33% | 8.50% | 8.50% | 9.24% |
| 42 Months | 8.23% | 8.29% | 8.38% | 8.55% | 8.55% | 9.51% |
| 50 Months | 8.27% | 8.33% | 8.42% | 8.60% | 8.60% | 9.83% |
| 60 Months | 8.27% | 8.33% | 8.42% | 8.60% | 8.60% | 10.21% |
| Senior Citizen | ||||||
| 12 Months | 8.03% | 8.09% | 8.17% | 8.34% | 8.34% | 8.34% |
| 18 Months | 8.17% | 8.23% | 8.32% | 8.49% | 8.49% | 8.67% |
| 24 Months | 8.31% | 8.37% | 8.46% | 8.64% | 8.64% | 9.01% |
| 30 Months | 8.50% | 8.57% | 8.66% | 8.84% | 8.84% | 9.44% |
| 36 Months | 8.68% | 8.75% | 8.84% | 9.04% | 9.04% | 9.88% |
| 42 Months | 8.73% | 8.80% | 8.90% | 9.09% | 9.09% | 10.18% |
| 50 Months | 8.77% | 8.84% | 8.94% | 9.14% | 9.14% | 10.54% |
| 60 Months | 8.77% | 8.84% | 8.94% | 9.14% | 9.14% | 10.97% |
| Note *Renewal Benefit - 0.25% extra, Women Benefit - 0.10% extra | ||||||
| Bajaj Finserv Interest Rates From 10-05-2023 | |||||
|---|---|---|---|---|---|
| Period | Monthly Income Plan | Quarterly Option | Half - yearly | Annual Income | Cumulative Option |
| Normal | |||||
| 12 Months | 7.16% | 7.20% | 7.27% | 7.40% | 7.40% |
| 15 Months | 7.21% | 7.25% | 7.32% | 7.45% | 7.45% |
| 18 Months | 7.16% | 7.20% | 7.27% | 7.40% | 7.40% |
| 22 Months | 7.25% | 7.30% | 7.36% | 7.50% | 7.50% |
| 24 Months | 7.30% | 7.35% | 7.41% | 7.55% | 7.55% |
| 30 Months | 7.21% | 7.25% | 7.32% | 7.45% | 7.45% |
| 33 Months | 7.49% | 7.53% | 7.61% | 7.75% | 7.75% |
| 36 Months | 7.77% | 7.82% | 7.89% | 8.05% | 8.05% |
| 44 Months | 8.05% | 8.10% | 8.18% | 8.35% | 8.35% |
| 45 Months | 7.77% | 7.82% | 7.89% | 8.05% | 8.05% |
| 48 Months | 7.77% | 7.82% | 7.89% | 8.05% | 8.05% |
| 60 Months | 7.77% | 7.82% | 7.89% | 8.05% | 8.05% |
| Senior Citizen | |||||
| 12 Months | 7.39% | 7.44% | 7.51% | 7.65% | 7.65% |
| 15 Months | 7.44% | 7.49% | 7.56% | 7.70% | 7.70% |
| 18 Months | 7.39% | 7.44% | 7.51% | 7.65% | 7.65% |
| 22 Months | 7.49% | 7.53% | 7.61% | 7.75% | 7.75% |
| 24 Months | 7.53% | 7.58% | 7.65% | 7.80% | 7.80% |
| 30 Months | 7.44% | 7.49% | 7.56% | 7.70% | 7.70% |
| 33 Months | 7.72% | 7.77% | 7.85% | 8.00% | 8.00% |
| 36 Months | 8.00% | 8.05% | 8.13% | 8.30% | 8.30% |
| 44 Months | 8.28% | 8.34% | 8.42% | 8.60% | 8.60% |
| 45 Months | 8.00% | 8.05% | 8.13% | 8.30% | 8.30% |
| 48 Months | 8.00% | 8.05% | 8.13% | 8.30% | 8.30% |
| 60 Months | 8.00% | 8.05% | 8.13% | 8.30% | 8.30% |
Shop No 05, Plot No 50, Ground Floor, New Pushpa Kunj CHS, Jain Society,
Sion (West), Mumbai- 400022
+91 9324413399
+91 9967713399
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