- SIDBI's Fixed Deposit Scheme is rated 'AAA(FD)' by CARE indicating highest safety with regard to payment of principal and interest.
- Salient features of the scheme are given below.
- The detailed terms of the scheme are enumerated in the application forms which may be obtained from any of the offices of SIDBI.
- It can also be downloaded from the website of SIDBI.
|A||Cumulative Deposit||Rs. 10,000|
|B||Annual income||Rs. 10,000|
|C||Quarterly Income||Rs. 10,000|
* Additional amounts in multiples of Rs.1,000
- Resident Individual.
- Partnership firms
- Bodies Corporate
- Association of Persons
- Nomination facility available on Single & Joint Deposits by Individuals.
- TDS exemption for income upto Rs. 5000/-. Eligible investments
for religious/ charitable trusts u/s 11(5) of I.T. Act,1961
- Interest/ Redemption Cheques will be encashable “at par” in Depositor’s City/ Town.
- Direct Credit of Interest to Depositor’s Bank Account through ECS, wherever facility available and requested by the investor. .
- Higher rates of interest for Senior Citizens.
Duration of Deposit
The minimum and maximum duration of the deposit is 12 and 60 months respectively. The deposits are accepted for a tenure in multiples of one month only.