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Fixed deposit (FD) is a type of bank savings or investment account that promises the investor a fixed rate of interest. In return, the investor agrees not to withdraw or access his/her funds throughout the period of Fixed Deposit.

A fixed deposit (FD) is a Financial Instrument provided by banks or NBFCs which provides investors a higher rate of Interest than a regular Savings Account until the given maturity date.

FD SCHEME (Fixed Deposit)

Year 1 2 3 4 5
Int. Rate% 6.50 7.00 7.50 8.00 8.50

NOTE:

  • SPECIAL INTEREST RATES FOR MEMBERS APPLICABLE AS PER SOCIETY TERMS AND CONDITIONS.
  • IF MEMBER JOIN ANY SCHEME, THEY WILL GET DIVIDEND ALSO.
  • BOARD WILL BE THE FINAL AUTHORITY.

Advantages of a Fixed Deposit

  • Assured Return – If you invest your money in a fixed deposit account, you are assured a return. You will earn interest on your deposited amount, but the rate of interest depends on the tenure you have chosen. Banks in India are offering around 7% to 8% interest on Fixed Deposits at present.
  • Flexible Payment – FDs allow you to choose how you wish to receive interest. You can choose to be paid annually, monthly or during maturity.
  • Risk Management – Financial instruments such as mutual funds, gold, etc., may provide high returns, but are also very risky. To adjust this market risk, it becomes important to invest in debt instruments. FDs will help you manage this risk as the returns are fixed.
  • Premature Withdrawal – You can withdraw the amount you have deposited in your FD account. For premature withdrawals, society may charge as per the rules.
  • Saving Habit – Fixed Deposits help people in developing a habit of saving money. When you invest a certain amount in FD, that amount cannot be used until you withdraw it or maturity.

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Head Office: Bharath Lajhna Multi State Housing Co-operative Society Ltd.

No. 305 & 306. 2nd Floor,Ten Square Mall. 100Feet Road. (Near CMBT)

Koyambedu, Chennai - 600 107. Tamil Nadu. India

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