Fixed Deposit Scheme in PNB, Bajaj Finance FD Scheme, PNB Housing Finance, ICICI Home Finance
Fixed Deposit Scheme
Fixed deposit (FD) is a financial instrument provided by banks or NBFC that offers investors a higher rate of interest than a regular savings account, as long as the given maturity date
Fixed Deposit is a very safe option for investment, where you can get Fixed & Guaranteed Returns by investing for a few years.
So today we have brought some of your FD Schemes, by investing in which you can earn a fixed annual interest of 7.00% every year.
Before investing in Fixed Deposit, you should understand –
- You should take Fixed Deposit according to your Goal.
- In FD, you get plans ranging from 1 to 10 years.
- Depending on the plan, the interest rate can be more or less.
- Also, you can get interest on month, quarter, 6 month and yearly basis.
- But the bank reduces the interest rate when withdrawing money before the Maturity Period.
1. Bajaj Finance
Bajaj Finance offers you 7.10 Highest Interest whereas for Senior Citizen this rate is 7.35% –
Some highlights of Bajaj Finance FD –
- In this, the highest interest is given on FD.
- With only ₹ 25,000 you can open your fixed deposit.
- With Systematic Deposit Plan (SDP), you can regularize small investments.
- Tenure is very feasible, where you can take FD for 12 to 60 months.
- You can easily apply online and by doing this you get 0.10% extra interest.
- If needed, you can also take a loan on FD, so that you will not lose interest rate.
- Also you get the freedom to invest through Multipal Deposit Facility, Auto Renewal and Debit Card.
Document required to apply
Any Indian citizen can apply for this, for this your latest photo and KYC details are required.
How to apply for Bajaj Finance FD Scheme –
1. First of all go to the website of Bajajfinserv.in.
2. Now click on Fixed Deposit in Investment.
3. Then click on the Apply Now button.
4. In this, you have to give all the information to Invest Now.
5. Now open a form from of you fill it.
6. After this, you will get a call from the company and all the further processes will be explained to you.
| Tenure | Rate (%) | Interest Rate for Senior Citizen |
| 1 to 2 Year | 6.9% | 7.15% |
| 2 to 3 Year | 7.0% | 7.25% |
| 3 to 5 Year | 7.1% | 7.35% |
2. PNB Housing Finance
PNB Housing Finance LTD mainly works for home loans, non home loans, fixed deposits etc. You can earn an annual interest of 6.20% to 6.95% by opening your FD –
| Tenure Month | Interest Rate (%) | Interest Rate for Senior Citizen |
| 60 to 71 | 6.70 | 6.95% |
| 48 to 59 | 6.60 | 6.85% |
| 36 to 47 | 6.60 | 6.85% |
| 24 to 35 | 6.45 | 6.70% |
| 12 to 23 | 6.20 | 6.45% |
Benefits of PNB Housing Finance FD –
- PNB Housing Finance provides you with a safe and high interest FD.
- In this, you get Door Step Services, in which the employee comes to your house and finishes all the procedures.
- Facility of Premature Withdrawal is also available where you can withdraw money before Muturity Period –
- Withdrawal of money in 6 months of deposit, you get 4% Annual Return.
- After 6 months, withdrawing money gives 1% less interest than the main interest rate.
- Along with this, you also get the facility of TDS Deduction, Loan Facility, Auto-Renewal or Nomination.
Interest Rate Payment Term –
| Scheme | Interest Payment Date |
| Monthly Income Plan | 30th or 31st of Each Month |
| Quarter Income Plan | June 30th, September 30th, December 31st, and March 31st |
| Half Yearly Plan | December 30th and March 31st |
| Annual Plan | March 31st |
How to apply for PNB Housing Finance FD Scheme
1. First of all go to pnbhousing.com/fixed-deposit.
2. Now click on Contact Us For Deposits at the bottom.
3. By giving your details asked in the form, click on Request A Call Back
4. You will then be given complete information through a call. And
5. In the next 48 hours, the employee will collect the document from you.
3. ICICI Home Finance
In ICICI Home Finance, you can start your FD with 10 thousand and earn interest from 6.00% to 6.70% with Flexible Tenure ranging from 1 to 10 years.
FD Interest Rate –
| Tenure | Interest |Rate (%) | Interest Rate for Senior Citizen |
| 12 Month | 6.00 | 6.25% |
| 30 Month | 6.30 | 6.55% |
| 45 Month | 6.45 | 6.70% |
Important Points –
In this you get –
- Safe deposit
- Easy withdrawal
- High returns
- Quick and Convenient
- Loan Against Deposit
How to Apply –
To apply for ICICI FD Scheme, you should go to Icicihfc.com/fixed-deposit and fill the application form and submit it.
FAQ’s
What is the type of FD?
Mainly FD is of 2 types –
Cumulative Deposit – In cumulative deposits, annual interest is collected on many of your deposits and when the Maturity Period comes, the entire amount is provided with the principal amount.
Non-cumulative Deposit – After a certain period on the amount deposited in it, you start getting interest on monthly, quarterly, 6 months or yearly basis. This interest can be used for daily expenses and other expenses.
What should be the minimum investment for FD?
It depends on the company or bank that Fixed Deposit Open, but usually you can start with 10 thousand, while in some banks this amount is even 25,000.
Is Fixed Deposit Tax-Free?
According to the income tax law, you can get a discount of up to 1.5 lakhs under 80C on FD investment.
Should you select Monthly Plan in FD or invest for a long time?
It is up to you whether you want to get interest like an income every month or you want to raise the entire amount on Maturity Period by investing for a long time.
Can FD be weighed before Maturity Period?
FD of most banks is flexible, which you can break if you need it only after 3 months of deposit.
Do banks charge on FD collapses?
No. Rather they reduce the interest rate you get.