Bank FDs
Offered by banks with fixed tenures and stated interest rates. Eligible deposits have limited DICGC insurance coverage.
Fixed Deposit
Fixed Deposit Services in Chennai for Thoughtful Savers
We help you understand available FD options, compare important details, and complete deposit-related formalities.
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Who Holds Your Money?
Considering a Fixed Deposit in Chennai? Start by checking who issues the deposit..
NBFC FDs
Offered by eligible finance companies. Interest rates and terms vary, and issuer credit risk applies.
Corporate FDs
Issued by eligible companies. Repayment depends on the company's financial strength and deposit terms.
One Deposit, Different Choices
Not all fixed deposit plans in Chennai follow the same rules. Here are three common options.
Regular FDs
Choose from available tenures and interest payout options, based on the issuer's terms.
Tax-Saving FDs
Eligible five-year bank FDs offer deductions under Section 80C in the old tax regime. A lock-in applies.
Senior Citizen FDs
Some issuers offer higher interest rates for eligible senior citizens, subject to their deposit terms.
Deposit Features
Look Beyond the Interest Rate
Before making an FD investment, these details deserve a closer look.
Interest Payout Options
Receive interest at set intervals or maturity, depending on the deposit.
Early Withdrawal Rules
Some FDs allow early withdrawals with reduced interest. Others restrict withdrawals.
Deposit Insurance
Eligible bank deposits have DICGC coverage up to ₹5 lakh per depositor per bank, including interest. NBFC and corporate deposits are not covered.
Loans Against FDs
Some issuers allow borrowing against deposits, subject to their terms.
Tax on Interest
FD interest is generally taxable. TDS may apply under current tax rules.
Nomination Facility
Add a nominee where permitted to help with claim-related formalities.
Ready to Explore FD Options?
Get the details on available deposits, interest rates, and terms before making your choice.
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