Fixed Deposit is an investment product for the customer with a maturity period. It is an investment of a fixed amount for a fixed period i.e. 91, 182 or 365 days and at a predetermined fixed interest rate.

Features

1. It enables the Account Holder to earn a higher rate of interest on their investment.
2. Automatic rollover option on maturity.
3. Customers are allowed to terminate their fixed deposits before maturity with a prior notice.

Benefits

1. It encourages savings habit for a longer period of time.
2. It enables the depositor to earn a high interest.
3. Can invest as much as possible 
4. Fixed deposit can be used as a security for a loan
5. Interest rates are negotiable.