Fixed Deposit Services

Regular Fixed Deposits: These are the most common and straightforward types of fixed deposits. You deposit a specific amount for a fixed tenure at a predetermined interest rate. The interest is generally compounded quarterly or annually, and you receive the maturity amount at the end of the tenure.

Tax-Saver Fixed Deposits: If you're looking for tax benefits, tax-saver fixed deposits are a great choice. These deposits have a lock-in period of 5 years and qualify for tax deductions under Section 80C of the Income Tax Act. The interest earned is taxable, but the principal amount invested can be deducted from your taxable income.

Senior Citizen Fixed Deposits: Designed exclusively for senior citizens, these fixed deposits offer higher interest rates compared to regular fixed deposits. Banks typically offer additional benefits such as regular interest payouts and preferential treatment to senior citizens.

Cumulative Fixed Deposits: In cumulative fixed deposits, the interest is compounded and reinvested along with the principal amount. You receive the entire maturity amount at the end of the tenure. These deposits are suitable if you don't require regular interest payouts and want to maximize your returns.

Flexi Fixed Deposits: Flexi fixed deposits provide flexibility in terms of deposit and withdrawal. You can deposit additional funds into the account at any time, and you can also withdraw a certain portion of the deposit without affecting the overall tenure.

Financial Services providers like Value4Money can help you with that. In most cases, you may be asked to go through a simple KYC process to open an FD account without the use of a savings account. You may need to provide a few documents like self-attested Xerox ID proof such as your PAN Card, your Voter ID Card, Aadhar Card, Passport, etc in order to open an FD Account.

Auto-renewal, as the name suggests, refers to the automatic renewal of a fixed deposit at its maturity. When you opt for auto-renewal, your fixed deposit will be reinvested for another tenure without any manual intervention required from your end. This ensures that your money continues to earn interest seamlessly.

As the name suggests, a term deposit is a type of investment where a fixed amount of money is invested with a financial institution for a specified period of time, known as the term. During this period, the funds remain locked, and the depositor earns interest on the principal amount. For short-term investments, term deposits are generally more suitable due to their shorter duration and potentially higher interest rates.