A Fixed Deposit provides investors with a higher interest rate than a regular Savings Bank Account until a fixed maturity date. It is provided by Banks and other Financial Institutions. It is otherwise known as a Term Deposit. Fixed deposit could be cumulative or non-cumulative. A non-cumulative fixed deposit will give periodic interest pay-outs. Banks and NBFCs give loans against FDs upto 80 to 90% of the value. Tax saving Fixed Deposits allow the investors to save tax under section 80C of Income Tax Act. Various options are available for fixed deposit in Trivandrum.
Fixed deposits are offered by banks, NBFCs and sometimes by other companies. The interest rate and credit rating differ from institution to institution. Fixed deposits are not high yielding investments. But as a comparatively low risk product, it is the most popular ivestment option among investors. Almost every popular bank and NBFCs offer fixed deposit in Trivandrum.
A fixed deposit offers guaranteed returns and is secure compared to market-linked investments. The interest rate on your deposit will be fixed throughout the entire tenure irrespective of interest rate fluctuations in the market. Fixed deposits are offered in flexible tenures ranging from seven days to ten years. We can lead you to the right product if you are planning to buy a fixed deposit in Trivandrum.