Fixed Deposit

When you put your money to work in fixed deposits, you basically lock the amount for a fixed period of time. You can earn interest on the principal sum throughout the tenure on a cumulative basis. The interest earned gets added to the principal amount after every specific interval.

Since the tenures are flexible, you have the option to manage multiple FD accounts spread across different tenures. That way, you will be able to earn more on your investments. Senior citizens are eligible for additional rates, usually 0.25% to 0.65% more than the existing rate.

Other than this, even NRIs (Non-resident Indians) can open FD accounts in India in the form of NRE (Non-resident External) and NRO (Non-resident Ordinary) FDs.

You can open a term deposit account with the following Corporate :

• Safer than other investment vehicles.
• Lets you earn interest over a fixed period of time.
• Flexible tenures of up to 10 years.
• No cap on the maximum deposit.
• Additional rates for senior citizens.