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. It may or may not require the creation of a separate account.

he most popular form of Term deposits are Fixed Deposits.The interest on FDs is paid every three months from the date of the deposit.As per customer's request,Interest is credited to the account. The customer may choose to have the interest reinvested in the FD account.

Fixed term deposit	Rate of Interest	Rate of Interest(For Senior Citizens)
46 Day to 190 Days	4.50%	5%
191 day to 1 year	5%	5.50%
Above 1 year to 2 year	6.90%	7%
Above 2 year	7.25%	7.50%