Fixed Deposit
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FIXED DEPOSIT
description
Fixed deposits are simple financial products that offer substantial rate of interest over a fixed amount of investment for a given period of time. Check out this power point presentation on fixed deposits which elaborates the topic in detail.
Transcript of Fixed Deposit
FIXED DEPOSIT
What is Fixed Deposit…
O A fixed deposit is a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date
Eligibility…..O Individuals O Sole Proprietorships O Hindu Undivided O Families (HUF) O Partnerships O TrustsO Associations/
Societies and Clubs O Limited Companies
Documents Checklist…O Application with
photograph
O Age proof
O Address proof
Interest….O Interest is credited only if it
is one rupee or more. O Scheduled bank with
deposits of less than Rs.25 Crores are permitted to give an additional ½% of interest.
O Additional fixed deposit interest rate of 1% is also payable to retired employee (not resigned) and the spouse of a deceased retired employee.
BenefitsO Loans can be
availed on fixed deposit up to 80-90%
O Rate of interest over loan will be 1-2% over rate offered on deposit
O NRI can apply for fixed deposit
