FIXED DEPOSIT
Take control of your savings by investing in Fixed Deposit. Enjoy Fixed Deposit interest rates as
high as 12.24%* with us. Happy Investing!
Fixed Deposit
A Fixed Deposit (FD) is a financial instrument where an investor gives a certain sum of money to a bank or a financial institution and the entity pays interest for the duration of the deposit. The rate of interest paid varies depending on the amount and tenure. Investors, especially conservative investors, prefer to open fixed deposits as it is a safe investment option and can be opened easily and quickly. The account can be opened individually or jointly.
Fixed Deposit scheme, offered by Starinvest India Bank Nidhi Limited, is a good Fixed Deposit (FD) plan that offers one of the best FD rates in the industry. Starinvest India Bank Nidhi Limited fixed deposit rates range from 10.25% to 12.24% p.a. We offer a number of Fixed Deposit schemes that come with various facilities. Depositors can choose from a wide range of deposit products with maturities ranging from 06 to 60 months at competitive rates of interest and with different features to suit the investment needs of individual Members.
Benefits of Fixed Deposit
The reasons why fixed deposits are an ideal form of investment are as follows:
- Guaranteed returns: Unlike an investment in the stock market or commodity market, fixed deposits are not a risky investment as they do not depend on fluctuating market rates. Investors can rest assured that his investments are safe and he will be getting back a guaranteed amount at the end of the tenure.
- Easily withdrawable: The amount that is invested in a fixed deposit can be withdrawn at any time for a small penalty. The investor may have a financial emergency to meet financial needs during the marriage, sickness, or when his business is at loss. The penalty is less than that of selling stocks or real estate as the asset cannot be sold easily because of its high value and if you are in a distressed situation, you will sell it for a much lower rate. Whereas, fixed deposits can be withdrawn at any time and all you lose is a certain interest income.
- Flexible in nature: Fixed deposits can be taken for a tenure of 1 year or 5 years based on your needs and for whatever amount that you can invest. Fixed deposits can be invested for the tenure of your choice. If you have planned for a big event in 5 years, then you can have a fixed deposit kept for 5 years to meet your financial requirement in 5 years. You can have various fixed deposit accounts to save for different goals.
- Higher interest rates
- Doorstep service
| Tenure | Normal Age Group (18 to 59) | Senior Citizen (60 or Above) |
|---|---|---|
| 6 Months | 12.24 % p.a. | 12.24 % p.a. + Bonus |
| 12 Months | 12.24 % p.a. | 12.24 % p.a. + Bonus |
| 24 Months | 12.24 % p.a. | 12.24 % p.a. + Bonus |
| 36 Months | 12.24 % p.a. | 12.24 % p.a. + Bonus |
| 60 Months | 12.24 % p.a. | 12.24 % p.a. + Bonus |
Terms & Conditions:
- A Fixed Deposit account can be opened with a minimum of Rs. 5,000 /- and further in multiples of Rs. 1000.
- Any individual can Deposit in a scheme.
- In this scheme, interest will be calculate compounded yearly basis.
- Nomination facility is available at the time of account opening.
- TDS Deduction will be as per the Income Tax Act.
- Minor after attaining majority has to apply for conversion of the account in his name.
- No premature allow within 90 days of fixed deposit, and no interest will be payable if withdraw within 6 months.
- Special interest rates will be applicable for people over 60 years of age, women, ex-servicemen, state and central government employees.
- The loan facility is available against deposits.
Mode of Payment:
All payments shall be made either in cash or by cheque/ draft against the receipt countersigned by its authorized signatory payments by any mode or media other than mentioned above shall be at the member account holder’s own risk. The cheque/draft shall be credited in the name of the member Account Holder subject to clearance by the bank. Outstation cheques shall not be accepted.
Issue of Bond:
An FD BOND will be issued to every member of the account holder. If any discrepancy or difference in the amount is found between the entries made in the BOND and receipts duly countersigned by the authorized signatory of the branch office bearing seal. Payment shall be made on the basis of receipts only.
Choose your Fixed Deposit Scheme as per your requirements and avail the option of applying for a savings account in our Starinvest India Bank Nidhi Limited.