Fixed Deposit

In deposit terminology, the term Fixed Deposit refers to a savings account or certificate of deposit that pays a fixed rate of interest until a given maturity date. Funds placed in a Fixed Deposit usually cannot be withdrawn prior to maturity or they can perhaps only be withdrawn with advanced notice and/or by having a penalty assessed.

FEATURES & BENEFITS :-

  • Attractive and assured Return.
  • Impeccable services.
  • A wide range of deposit products to choose.
  • Quarterly interest will be credited to depositor’s Bank account, if opted.

TERMS & CONDITIONS:-

The minimum investment amount in fixed deposit Rs. 1000/- more investment. Interest calculation compound Quarterly.

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Frequently Asked Questions

Months
  • 6 Months
  • 12 Months
  • 24 Months
  • 36 Months
  • 48 Month
  • 60 Months
Regular Interest
  • 7.50%
  • 8.75%
  • 9.00%
  • 10.25%
  • 10.50%
  • 10.75%
Senior Citizen
  • 8.00%
  • 9.00%
  • 9.25%
  • 10.50%
  • 10.75%
  • 12.00%

A fixed deposit (FD) is a financial instrument provided by Grama Consumer Cooperative Society. In which provides investors a higher rate of interest than a regular savings account, until the given maturity date.Fixed deposits are a high-interest -yielding Term deposit and offered by banks in India.

 

  • Customers can avail loans against FDs up to 80 to 90 percent of the value of deposits. The rate of interest on the loan could be 1 to 2 percent over the rate offered on the deposit.
  • Residents of India can open these accounts for a minimum of 3 months.

Tax is deducted by the banks on FDs if interest paid to a customer at any bank exceeds Rs. 10,000 in a financial year. This is applicable to both interest payable or reinvested per customer. This is called Tax deducted at Source and is presently fixed at 10% of the interest.