A fixed deposit (FD) account allows you to earn a fixed rate of interest for keeping a certain sum of money locked in for a given time, that is until the FD matures. FDs range between a maturity period of seven days to 10 years.
Amount ₹ |
1 Year 8.00% |
2 Year 8.50% |
3 Year 9.00% |
4 Year 9.00% |
5 Year 9.00% |
10 Year 8.50% |
---|---|---|---|---|---|---|
20,000 | 21,600 | 23,328 | 25,194 | 27,210 | 29,387 | 43,179 |
50,000 | 54,000 | 58,320 | 62,986 | 68,025 | 73,467 | 1,07,947 |
1,00,000 | 1,08,000 | 1,16,640 | 1,25,971 | 1,36,049 | 1,46,933 | 2,15,894 |
2,00,000 | 2,16,000 | 2,33,280 | 2,51,942 | 2,72,097 | 2,93,865 | 4,31,784 |
3,00,000 | 3,24,000 | 3,49,920 | 3,77,914 | 4,08,147 | 4,40,799 | 6,47,678 |
4,00,000 | 4,32,000 | 4,66,560 | 5,03,885 | 5,44,196 | 5,87,732 | 8,63,571 |
5,00,000 | 5,40,000 | 5,83,200 | 6,29,856 | 6,80,244 | 7,34,664 | 10,79,462 |
10,00,000 | 10,80,000 | 11,66,400 | 12,59,712 | 13,60,489 | 14,69,328 | 21,58,924 |
* For SR Citizens: 0.5% Additional rate Of Interest
** rates subject to change
A recurring deposit (RD) has a fixed tenure. You need to invest a fixed sum of money in it regularly every month or once a quarter to earn interest.
The sum you need to invest here is smaller and more frequent. You cannot change the tenure of the RD and the amount to be invested each month or quarter. The maturity period of an RD could range between six months to 10 years.
Amount ₹ |
1 Year 8.00% |
2 Year 8.50% |
3 Year 9.00% |
4 Year 9.50% |
5 Year 9.50% |
---|---|---|---|---|---|
1000 | 12,529 | 26,228 | 41,417 | 58,484 | 76,872 |
2000 | 25,058 | 52,456 | 82,834 | 1,16,968 | 1,53,744 |
3000 | 37,587 | 78,685 | 1,24,251 | 1,75,453 | 2,30,616 |
5000 | 62,646 | 1,31,142 | 2,07,086 | 2,92,421 | 3,84,360 |
10000 | 1,25,293 | 2,62,284 | 4,14,172 | 5,84,843 | 7,68,721 |
** rates subject to change
Daily Deposit Scheme Features & Benefits
Pigmy Deposit Scheme is a monetary deposit scheme where Money in amounts as small as fifty rupees can be deposited into an account on a daily basis, by a bank agent collecting the money from the account holder's doorstep. The scheme is introduced to help daily wage earners, small traders and farmers begin saving, as a means to fund their bigger capital requirements such as weddings or purchases of homes or vehicles.
Time Period (in months) |
Duration (in days) |
Interest |
---|---|---|
06-12 Months | 181 Days - 365 Days | 3% |
> 12 Months | > 366 Days | 6% |
A current account is a deposit account for traders, business owners, and entrepreneurs, who need to make and receive payments more often than others. These accounts hold more liquid deposits with no limit on the number of transactions per day.
Current accounts allow overdraft facility, that is withdrawing more than what is currently available in the account. You need to maintain a minimum balance to be able to operate current accounts.
A savings bank account is a regular deposit account, where you earn a minimum rate of interest. Here, the number of transactions you can make each month is capped.
Banks offer a variety of Savings Accounts based on the type of depositor, features of the product, age or purpose of holding the account, and so on. There are regular savings accounts, savings accounts for children, senior citizens or women, institutional savings accounts, family savings accounts, and so many more.
You have the option to pick from a range of savings products. There are zero-balance savings accounts and also advanced ones with features like auto sweep, debit cards, bill payments and cross-product benefits. A cross-product benefit is when you have a savings account with a bank and get to avail special offers on opening a second account such as a demat account.