Fixed deposit

[Sudha]

A deposit is accepted by way of cheque/Demand Draft as cash is not acceptable, company as per the company’s rules and regulations and the deposited amount is repaid back after the maturity date and/or before maturity as per the RBI rules. These deposits are of two types Cumulative deposits and Non-Cumulative (Fixed) deposits Cumulative deposits are fixed for three years. No interest is paid until its maturity time. When the payment is done then the maturity amount (i.e., deposit plus Compound Interest) is paid.

[Padma]

Can you please tell me the current rate of intrest on fixed deposits.

[Mahesh]

The intrest on fixed deposits varies according to the policy the bank is following.
currently the banks are charging 10.25-10.555% pa.

[Padma]

Thanks for the information.

[robsans]

Thanks for the information...