A Fixed Deposit (FD) is a financial instrument provided by MSP INDIAN DEVELOPMENT NIDHI LIMITED to its members, which provides members a with higher rate of interest than a regular savings account, until the given maturity date. For a fixed deposit is that the money cannot be withdrawn from the FD as compared to a recurring Deposit or a demand deposit before maturity. MSP INDIAN DEVELOPMENT NIDHI LIMITED offer additional services to FD holders such as loans against FD certificates at competitive interest rates.
Popular Fixed Deposit Schemes
|Scheme Code||Scheme Name||Tenure||Rate of Interest (%)||FD Amount||Maturity Amount|
|FD_1 Year||Regular Fixed Deposit||12 Months||8.0 %||1,00,000||1,08,000|
|FD_2 Year||Standard Fixed Deposit||24 Months||8.75 %||1,00,000||1,17,500|
|FD_3 Year||Premium Fixed Deposit||36 Months||9.75 %||1,00,000||1,29,250|
|FD_4 Year||Extra Premium Fixed Deposit||48 Months||10.20 %||1,00,000||1,40,800|
|FD_5 Year||Dhan Kuber Fixed Deposit||60 Months||12.00 %||1,00,000||1,60,000|
|FD_8 Year||Double Dhamaka Fixed Deposit||96 Months||12.50%||1,00,000||2,00,000|
|Dhan Lakshmi Fixed Deposit||120 Months|
|13.50% ‘or’ (+)||‘NA’||‘NA’|
Terms & Conditions:
- It is mandatory to be a member in the Company.
- Company will issue shares worth Rs.100/- to FD account holder.
- Minimum FD would be of Rs.10000.
- Interest calculated quarterly or no compounded.
- Applicable TDS to be deducted on Interest as per the provisions of Income Tax Act.
- Loan available against deposit up to 75% of deposit amount after 1 from the date of deposit.
- In case of death of a depositor , the Company will repay to nominee or beneficiary the principal & interest, at which it was accepted.