7 Fixed Deposit (FD) Investment Tips
7 Fixed Deposit (FD) Investment Tips Bank Fixed Deposit (FD) is perhaps the simplest of all investment options available to Indian investors. In banking parlance, they are known as Term Deposits or Time Deposits. Anyone investing in a bank fixed deposit needs to be aware of a few important things. Here are 7 such points that one needs to take note of before locking funds in a bank FD. 1. Minimum and Maximum Deposit Limit Most government banks including SBI have a minimum deposit limit of Rs 1,000 for creating fixed deposit. However private banks have higher limit for minimum deposit. You can avail of ICICI Bank Fixed Deposits for a minimum deposit of Rs 10,000 for General Customers and Rs 2,000 for Fixed Deposits for Minors. In case of HDFC Bank the minimum deposit amount is Rs 5,000. There is NO maximum limit but if the deposit is above Rs 1 crore, it’s called bulk deposit and generally has higher interest rates than regular FDs. ...