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What is
Fixed Deposit ?
A fixed deposit is meant for those investors who want to
deposit a lump sum of money for a fixed period; say for a
minimum period of 15 days to ten years, thereby
earning a higher rate of interest in return. Investor gets
a lump sum (principal + interest) at the maturity of the
deposit.
Bank's fixed deposit scheme is one of the most common savings
scheme for an average investor. Fixed deposit also
gives a higher rate of interest than a savings bank
account. Some of
the facilities offered by bank on fixed deposit are overdraft (loan)
facility on the amount deposited, premature withdrawal
before maturity period (which involves a loss of interest)
etc. Bank deposits are fairly safer because banks are
subject to under control of the Reserve Bank of India.
Why Fixed
Deposit with Us ?
Bank deposits are the safest investment after Post office
savings because all bank deposits are insured under the
Deposit Insurance & Credit Guarantee Scheme of India. It
is possible to get a loans up to75- 90% of the deposit
amount from banks against fixed deposit receipts. The
interest charged will be 1% more than the rate of interest
earned by the depositers. The 1995
Finance Bill Proposals introduced tax deduction at source
(TDS) on fixed deposits on interest incomes of Rs.5000/-
and above per annum. We give best interest rate on fixed
deposit as under.
INTEREST
RATE FOR FIXED DEPOSIT
Click
Here to view interest rate based on investment period
Required
Documents ::
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Identity Proof (Any one of following
documents)
Passport
Driving License
PAN Card
Voter ID Card
Defence / Govt / ID Card
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Address Proof (Any one of following
documents)
Passport
Voter ID Card
Ration Card
Electricity/Telephone/Mobile Bill
Life Insurance Policy /Premium Receipts
House Lease Agreement
Employer's Letter in case of Pvt. & Public Ltd. Company.
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Passport Size Photograph
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Specimen Card
Application Forms for
Fixed Deposit
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