Types of Fixed Deposits
5paisa Research Team
Last Updated: 01 Jan, 2025 10:14 AM IST

Content
- Introduction
- Overview of Fixed Deposits
- Types of Fixed Deposits In India
- Types of Fixed Deposits for NRIs (Non-Residents of India )
- Benefits of Fixed Deposits
- How to find the Right Fixed Deposit?
- Conclusion
Introduction
Fixed deposits are investment instruments that allow investors to deposit a lump sum of money for a specific period and earn a fixed rate of interest on it. There are several types of fixed deposits available, each with its own features and benefits.
There are several types of fixed deposits in India available in the market, each with its own unique features and benefits. Here are some of the most common types of fixed deposits:
● Regular income Fixed Deposit
● Senior Citizen Fixed Deposit
● Tax-Saving Fixed Deposit
● Flexi Fixed Deposit
● Sweep-in Fixed Deposit
● Corporate Fixed Deposit
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Frequently Asked Questions
Yes, it is possible to receive the interest on a fixed deposit on a monthly basis. Some banks and financial institutions offer the option of receiving interest payouts on a monthly.
Yes, it is possible to withdraw the fixed deposit amount before maturity, but most banks and financial institutions charge a penalty for premature withdrawal. The penalty for premature withdrawal varies from bank to bank and also depends on the tenure of the fixed deposit. Some banks may also restrict premature withdrawal for certain types of fixed deposits, such as tax-saving fixed deposits
The tenor of a fixed deposit can range from a few days to several years, depending on the investor's preference and the options offered by the bank. Typically, fixed deposits with longer tenors offer higher interest rates compared to those with shorter tenors.
To open a fixed deposit account offline, you will have to reach out to your nearest bank branch with all your identity and details for registration.
The fixed deposit that offers the highest return depends on various factors such as the amount invested, tenor, and the interest rate offered by the bank or financial institution. Generally, fixed deposits with longer tenors and higher deposit amounts tend to offer higher interest rates.
Fixed deposits are also commonly known as time deposits.