Fixed Deposit (FD) & Recurring Deposit (RD)
A Fixed Deposit (FD) is a popular savings option that pays a fixed interest rate for a fixed period. Rates differ by bank, and a deposit carries the bank’s credit risk. A Recurring Deposit (RD) lets you invest a fixed amount every month, building a disciplined savings habit while earning FD-like interest rates. Whether you want to invest a lump sum or save small amounts regularly, we help you compare FD and RD options from different banks by interest rate, tenure and liquidity.
Features & Benefits of Fixed Deposits
• Fixed Interest Rate: The rate stays fixed for the deposit period, as set by the bank.
• Flexible Tenure: Tenures typically range from 7 days to 10 years, depending on the bank.
• Higher Interest Rates: Usually a higher interest rate than a regular savings account, though rates vary by bank.
• Tax-Saving FD: A 5-year tax-saving FD may qualify for a deduction of up to ₹1.5 lakh under the old tax regime, subject to current tax rules. Interest is taxable.
• Loan Against FD: Many banks offer a loan against a deposit, often up to about 90% of its value. Terms depend on the bank.
• Senior Citizen Benefits: Higher interest rates for senior citizens.
Features & Benefits of Recurring Deposits
• Disciplined Savings: Invest a fixed amount every month and build a healthy savings habit.
• Flexible Tenure: Choose from 6 months to 10 years as per your needs.
• Attractive Interest Rates: Earn FD-like returns on your monthly instalments.
• Low Starting Amount: Start an RD with instalments as low as ₹500–₹1,000 per month.
• Loan/Overdraft Against RD: Avail funds against your RD balance when needed.
• Senior Citizen Benefits: Higher interest rates for senior citizens.
Why Choose a Fixed Deposit?
• Not Market-Linked: Interest is fixed and does not move with share markets. A deposit carries the bank’s credit risk, and deposit insurance covers up to ₹5 lakh per depositor per bank.
• Flexible Payout Options: Choose between monthly, quarterly, or annual interest payouts.
• Compounding Growth: Opt for a reinvestment FD to maximise returns.
• Premature Withdrawal: Most FDs can be closed early, usually with a penalty and lower interest. Tax-saving FDs cannot be withdrawn during the 5-year lock-in.
• Senior Citizen Rates: Many banks pay senior citizens extra interest, often around 0.50%.
Types of Fixed Deposits We Offer
• Regular Fixed Deposit – For stable, predictable income.
• Tax-Saving FD – A 5-year lock-in period, with tax benefits under Section 80C.
• Cumulative FD – Interest is reinvested for compounded growth.
• Non-Cumulative FD – Monthly, quarterly, or annual interest payouts.
• Senior Citizen FD – Higher interest rates for investors aged 60+.
• NRE/NRO FD – Fixed deposit options for NRIs, with repatriation benefits.
What is a Recurring Deposit (RD)?
A recurring deposit lets you deposit a fixed amount every month for a chosen tenure and earn interest similar to an FD, paid out at maturity along with your total deposits. It is an ideal option for salaried individuals and small business owners who want to build savings step by step instead of investing a lump sum.
Why Choose a Recurring Deposit?
• Builds Savings Discipline: Encourages regular monthly saving.
• Not Market-Linked: Interest is fixed and does not move with share markets. A deposit carries the bank’s credit risk.
• Affordable Entry: Start with small monthly instalments.
• Flexible Tenure: Choose a tenure that matches your goal.
• Higher Returns for Senior Citizens: Additional interest for senior citizens.
Types of Recurring Deposits We Offer
• Regular RD – A standard monthly recurring deposit for individuals.
• Senior Citizen RD – Higher interest rates for investors aged 60+.
• NRE/NRO RD – Recurring deposit options for NRIs, with repatriation benefits.
• Flexi RD – Flexibility to vary your monthly instalment amount.
Eligibility Criteria
• Individuals and senior citizens (18+ years).
• Hindu Undivided Families (HUFs).
• Companies, trusts, and societies.
• NRIs and PIOs (for NRE/NRO FD and RD accounts).
Documents Required
• KYC Documents: Aadhaar Card, PAN Card.
• Bank Account Details: Cancelled cheque for linking the FD/RD account.
• Address Proof: Utility bill, passport, or voter ID.
Why Choose Us?
• Compare Top Bank & NBFC Rates – Get the highest returns available.
• Hassle-Free Process – Quick online and offline FD/RD bookings.
• Expert Guidance – Personalised investment planning.
• Reliable Option – Interest is fixed and not linked to share markets. A deposit carries the bank’s credit risk.
• Loan Against FD/RD Assistance – Easy liquidity when you need it.
Rovian helps you compare and apply for deposit products offered by banks and other institutions. Interest rates, tenures and terms are set by the issuer and can change. Interest is taxable and TDS may apply. Please read the issuer’s terms before investing.
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