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Fixed Deposit Scheme
A fixed deposit (FD) is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account.
(On Deposit of Rs. 10000/-)
| Period |
Interest Rate |
Maturity Amount |
| 12 Month |
9.00% |
10900/- |
| 18 Month |
9.25% |
11390/- |
| 24 Month |
9.50% |
11900/- |
| 36 Month |
10.15% |
13040/- |
| 48 Month |
10.20% |
14080/- |
| 60 Month |
11.20% |
15600/- |
Terms & Conditions:-
- Minimum FD would be of Rs.1,000 and further in multiple of Rs.1,000
- Interest calculation Quarterly compound.
- No TDS Deducted on interest. Paid by MountSoft on Deposit.
- Loan available against deposit up to 70% of deposited amount after one month from the date of deposit.
- Rate of Interest on loan against FD would be 6% higher than applicable rate of interest to your deposit.
Pre Mature Closure Of Deposits:-
Fore closure of Deposits will not be permitted until completion of 3 months From the date of Deposits. Deposits foreclosed after 3 months but before 6 months from the date of Deposits no Interest will be paid. Deposits foreclosed after 6 months, interest at 2% shall be deducted from the normal rate of Simple Interest for the period of Deposit.
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