How Much Interest Will I Get in a Time Deposit Account?

How Much Interest Will I Get in a Time Deposit Account?

The interest rate earned on a Fixed Deposit as well as a Recurring Deposit is 5% to 8% (subject to change as per bank’s policy)

More information about Time Deposit Account

Read the Investments guide to find out more about Time Deposit Account. You will understand the minimum and maximum maturity period, penalty for pre-mature withdrawal and minimum deposit

Points to remember:

Here are some key takeaways from this section that you should remember.

A Time Deposit Account is an account in which you keep some money and promise the bank that you will not withdraw that money for some months or years.
You can deposit the money in the account all at once or in installments.
They are risk-free investment options.
They pay a higher interest rate than regular Savings Account.
They get a fixed interest rate until maturity.
If you withdraw before the maturity period, you will be penalised by the bank.

You can also learn about other types of bank deposits and then choose the one that works best for you.

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