Who is allowed to do fixed deposit investment? - letsdiskuss
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Finance Advisor & Tech Blogger | Posted on | Share-Market-Finance

Who is allowed to do fixed deposit investment?


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Fixed deposit is a low-risk, low-maintenance savings scheme. Being free from market fluctuations and rated high on safety and stability with ICRA’s MAAA (stable) rating and CRISIL’s FAAA/ stable rating, it ensures your investments are never at risk. They offer an assured gains on your investment and eventually accumulate wealth and grow your corpus.

The deposit can be booked for anyone by someone who matches the below mentioned criteria -

  • You must be a resident of India.
  • Hindu Undivided Family (HUF).
  • Sole proprietorship, partnership firms, and companies including group companies.
  • Clubs, associations, and societies.
  • Family trusts.

The deposit can be booked online with just basic documentation online at the lender’s official website with a minimum amount of Rs. 25,000. Leading NBFCs offer higher interest rates on FD starting from 8.40% onward on flexible duration of 12-60 months. Special top up rates are available for senior citizens at 0.35% on the base rate.

There are two types of withdrawals available - cumulative (where interest is gathered at the the time of the maturity) and non-cumulative (where interest is charged at monthly, quarterly, half yearly and annual basis).

The depositor can easily book the account online either in their name or for their family members. Managing and tracking the account becomes easier online too.


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