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What are the types of Fixed Deposits?

RBL Bank Nov 22, 2022

The habit of saving money becomes a blessing when invested correctly.

But confused by too many options available in the market and wondering which financial instrument to choose?

Invest in Fixed Deposits (FDs) today and enjoy the benefits offered through the different types of fixed deposits available.

Why are Fixed Deposits Reliable?

Fixed Deposits are considered to be the most practical investment option available to many. It assures guaranteed returns and allows you to decide how much you want to invest and for what duration. This flexibility ensures that you are the key decision-maker and can control the return rate you wish to enjoy.

You are also safe from the fluctuations of the market and will enjoy the rate at which you deposited, despite market ups and downs.

Different types of FDs allow you to invest for various tenures and avail of multiple benefits, and as the duration increases, the higher the interest rate goes. So, take a step towards achieving your dreams and select the type of FD you want to invest in.

RBL Bank offers you the best FDs at the best interest rate in the market to choose from and secure your financial future.

If you are a new customer, open a Savings Account today, and start investing in an FD of your choice.

Head on to the application form to invest in an FD now.

The Different Types of Fixed Deposits

Depending on your needs and how long you wish to invest, there are various types of fixed deposits you can invest in. Discuss with your bank to know which type of FD works for you and how to secure your financial future.

Here are the different types of FDs offered:

Regular Fixed Deposits

If you are about to invest in an FD for the first time or looking for a regular source of income, this is the ideal option for you.

Generally, FDs are low-risk, and a Regular FD comes with the most negligible risk factor. You can avail guaranteed returns once the FD reaches maturity.

You can choose from as few as seven days to as long as 20 years to invest and reap the interest earned for the period. Keep in mind that the interest rate will increase as the investment time lengthens. Click here to know the interest rates offered.

Tax Saving Fixed Deposits

Looking for ways to enjoy both guaranteed returns and also avail of tax exemptions? The tax-saving type of FD is for you.

Certain FDs allow you the option of tax relaxations, and if you are someone who tries to avoid risks, then your search ends here. These tax-saving FDs give you the opportunity to obtain tax deductions under the Income Tax Act of 1961, Section 80C. Save tax on amounts up to INR 1,50,000. It must be known that only the first holders of joint accounts are eligible for the tax benefits.

These FDs come with an obligatory five-year lock-in period, guaranteed returns, and the benefit of being low-risk.

Senior Citizens Fixed Deposits

This type of FD is for senior citizens aiming to secure their post-retirement life and enjoy a guaranteed source of income.

Does it worry you that once you hit the retirement age, your savings will no longer be able to sustain you?

Does the feeling of being burdened with no capital once you stop working bother you? Then invest in a senior citizen FD today.

You get to enjoy both assured and highest returns, along with availing an additional interest rate of 0.5%. So, secure your future and get ready to enjoy a relaxed post-retirement life, reaping the benefits of your hard work.

Flexi Sure Fixed Deposits

Looking forward to reaping the benefits of assured returns and enjoying the power of liquidity? Your search for an ideal type of FD ends here.

In this type of fixed deposit, you can link your FD account with your Savings Account/ Current Account. All this can be done while assuring guaranteed fixed income. This type of Flexi sure FD’s allows you to enjoy double benefits and gain more than you can ask for.

Disclaimer: Articles published on the website are merely indicative and suggestive in nature and do not amount to solicitation. The contents do not guarantee the desired returns and/or results. Reader is advised to exercise discretion and consult independent advisors for achieving desired result. Visitors to this blog/ website w.r.t products & services offered by RBL Bank Limited herein, shall ensure that the comments / feedback posted shall be restricted to the contents published herein and shall not contain such language that may be un-parliamentary or against any religion, caste, section of society, political view etc. While our endeavor is to publish the comments that are submitted, however, all comments/feedback shall be subject to internal review by RBL Bank Limited. We do not guarantee that the comments that are submitted will be published.

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