FIXED DEPOSIT (FD)
Bank Fixed Deposits, also known as Term Deposits, allow you to deposit a specific sum of money in a bank for a fixed tenure at a predetermined rate of interest. The interest rate depends on the chosen maturity period, with longer periods typically offering higher rates.
Key Features:
- Maturity Period: Flexible, ranging from 15 days to 10 years.
- Interest Payment Options: Monthly, quarterly, half-yearly, or annually.
- Deposit Limits: Minimum ₹1,000; no upper limit.
- Loan Facility: Loan or overdraft facility available against FDs.
- Premature Withdrawal: Allowed but subject to loss of interest.
- Automatic Renewal Scheme: Upon maturity, Fixed Deposits are now eligible for Automatic Renewal under the same terms and conditions (unless specified otherwise), ensuring uninterrupted earnings for account holders.
ELIGIBILITY
FD accounts can be opened by:
- Individuals (single or joint accounts).
- Co-operative Societies, Registered Trusts, Institutions, and Associations.
- Natural guardians (father or mother) on behalf of minors.
MINIMUM DEPOSIT
₹1,000.
INTEREST RATES (Effective from 02/03/2023)
| Tenure | Interest Rate |
|---|---|
| 15 to 45 days | 5.00% |
| 46 to 90 days | 5.50% |
| 91 to 179 days | 6.00% |
| 180 to 364 days | 7.00% |
| 1 year to below 2 years | 8.00% |
| Above 2 years to below 3 years | 7.50% |
| Above 3 years | 6.25% |
Take advantage of our Automatic Renewal Scheme for effortless savings and uninterrupted returns!
Additional interest @ 0.50% for Senior Citizen limited to term deposits (Fixed deposits and Recurring deposits) for one year and above.
CUMULATIVE / RE-INVESTMENT (RI) DEPOSIT
Cumulative / Re-Investment Deposits are a special type of term deposit where the interest earned is compounded periodically and added to the principal amount. This helps maximize the growth of your investment over the deposit tenure.
Key Features:
- Maturity Period: Flexible, ranging from 1 year to 10 years.
- Interest Compounding: Interest is compounded quarterly, half-yearly, or annually and reinvested to maximize returns.
- Deposit Limits: Minimum ₹1,000; no upper limit.
- Loan Facility: Loan or overdraft facility available against deposits.
- Premature Withdrawal: Allowed but subject to loss of interest.
- Additional Interest: Senior citizens earn an additional 0.50% interest on term deposits (Fixed Deposits and Recurring Deposits) with tenures of 1 year and above.
ELIGIBILITY
Accounts can be opened by:
- Individuals (single or joint accounts).
- Co-operative Societies, Registered Trusts, Institutions, and Associations.
- Natural guardians (father or mother) on behalf of minors.
MINIMUM DEPOSIT
₹1,000.
INTEREST RATES (Effective from 02/03/2023)
| Tenure | Interest Rate |
|---|---|
| 15 to 45 days | 5.00% |
| 46 to 90 days | 5.50% |
| 91 to 179 days | 6.00% |
| 180 to 364 days | 7.00% |
| 1 year to below 2 years | 8.00% |
| Above 2 years to below 3 years | 7.50% |
| Above 3 years | 6.25% |
Why Choose a Cumulative Deposit?
- Ideal for long-term savings to achieve your financial goals.
- Benefit from compounding, which accelerates your wealth accumulation over time.
Additional interest @ 0.50% for Senior Citizen limited to term deposits (Fixed deposits and Recurring deposits) for one year and above.
Please contact your nearest PCUB branch for more details
