Fixed deposits are investment instruments offered by bank where you can deposit money for a higher rate of interest than savings accounts. You can deposit a lump sum of money in fixed deposits for a specific period, ranging from 7 days to 10 years.
Rate of Interest payable on Fixed deposits are
Earn a higher interest rate of 9% P.A.*, on Fixed Deposits| 30 days to 90 days | 4% |
| 91 days to 180 days | 5% |
| 180 days to 365 days | 6% |
| 1 year to 1 year 364 days | 7.5 to 8% (Senior Citizen) |
| 2 year onwards | 9% |
