FAQs

• What is the minimum amount needed to open a Fixed Deposit (FD)?

  The minimum amount required to open a Fixed Deposit (FD) account may vary depending on the bank or financial institution. However, it usually starts from 5000 rupees.

• Can I withdraw money from a fixed deposit before maturity?

  Yes, you can withdraw money from a fixed deposit before maturity. However, this may result in a penalty or reduction in the interest rate earned on the deposit. The exact penalty and conditions for premature withdrawal may vary depending on the bank or financial institution.

• What is the interest rate offered on fixed deposits?

  The interest rate offered on fixed deposits can vary depending on the bank, tenure of the deposit, and prevailing market conditions. Typically, fixed deposit interest rates range from 3% to 7% per annum, with longer tenures and higher deposit amounts attracting higher interest rates.