“Do not save what is left after spending, but spend what is left after saving”
FD is a great way to grow your savings. They are a safe and risk free investment, offer good returns and are easy to open.
In a fixed deposit, you put lump sum amount in your bank for a fixed tenure at an agreed rate of interest. At the end of the tenure, you receive the amt you have invested plus compound interest. The rate of interest on FD’s is higher than saving account deposits.
Auto Renewal Scheme
The deposit will be renewed automatically on maturity for the same period with or without interest as instructed by the customer.
Monthly Income Plan (MIP)/Quarterly Income Plan (QIP)
Interest on Deposit paid monthly/quarterly as opted by the customer.
The amount can be paid by RTGS/NEFT or transferred to his/her account.