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Fixed Deposit Scheme

SIDBI's Fixed Deposit Scheme is rated 'AAA(FD)' by CARE indicating highest safety with regard to payment of principal and interest. Salient features of the scheme are given below. The detailed terms of the scheme are enumerated in the application forms which may be obtained from any of the offices of SIDBI. It can also be downloaded from the website of SIDBI.

 

Schemes

Minimum Deposit@

 
A
Cumulative Deposit
Rs. 10,000
B
Annual income
Rs. 10,000
C
Quarterly Income
Rs. 10,000

* Additional amounts in multiples of Rs.1,000

 

Eligible Depositors

  • Resident Individual.
  • Minors.
  • HUFs.
  • Partnership firms
  • Companies
  • Bodies Corporate
  • Societies
  • Association of Persons

Features

  • Nomination facility available on Single & Joint Deposits by Individuals.
  • TDS exemption for income upto Rs. 5000/-. Eligible investments
    for religious/ charitable trusts u/s 11(5) of I.T. Act,1961
  • Interest/ Redemption Cheques will be encashable “at par” in Depositor’s City/ Town.
  • Direct Credit of Interest to Depositor’s Bank Account through ECS, wherever facility available and requested by the investor. .
  • Higher rates of interest for Senior Citizens.

Duration of Deposit

The minimum and maximum duration of the deposit is 12 and 60 months respectively. The deposits are accepted for a tenure in multiples of one month only.

 

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