A Unique saving schemes for daily income earners.

A given amount of money is invested through an FD for a specific amount of time at a specific rate of interest. Even though it typically exceeds the interest paid on savings accounts, the rate of interest varies from financial institution to financial institution.

Banks and non-banking financial institutions (NBFC) provide their customers with fixed deposits, often known as FDs, as a form of investment. 

Fixed deposits are offered for a variety of lengths, from 10 years to relatively short terms (7 to 14 days). Term deposits and fixed deposits are both used interchangeably.

• A unique savings scheme wherein, the daily income earners can park their surplus funds.
• An authorized agent of the Bank collects the daily deposits from the customer’s doorstep.
• A scheme which suits both the rich a poor alike.
• An ideal product for those who are into business/self-employment.
• Premature closure with applicable penal cuts possible
• Loan facility is available for Recurring deposit against the amount present
• TDS applicable as per the extant IT guidelines.