Fixed Deposit

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 For a fixed deposit is that the money cannot be withdrawn from the FD as compared to a  recurring Deposit or a demand deposit before maturity.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 CodeScheme NameTenureRate of Interest (%)FD AmountMaturity Amount
FD_1 YearRegular Fixed Deposit12 Months8.0 %1,00,0001,08,000
FD_2 YearStandard Fixed Deposit24 Months8.75 %1,00,0001,17,500
FD_3 YearPremium Fixed Deposit36 Months9.75 %1,00,0001,29,250
FD_4 YearExtra Premium Fixed Deposit48 Months10.20 %1,00,0001,40,800
FD_5 YearDhan Kuber Fixed Deposit60 Months12.00 %1,00,0001,60,000
FD_8 YearDouble Dhamaka Fixed Deposit96 Months12.50%1,00,0002,00,000
FD_10 Year
‘or’ Above
Dhan Lakshmi Fixed Deposit120 Months
‘or’ Above
13.50% ‘or’ (+)‘NA’‘NA’
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Terms & Conditions:

  1. It is mandatory to be a member in the Company.
  2. Company will issue shares worth Rs.100/- to FD account holder.
  3. Minimum FD would be of Rs.10000.
  4. Interest calculated quarterly or no compounded.
  5. Applicable TDS to be deducted on Interest as per the provisions of Income Tax Act.
  6. Loan available against deposit up to 75% of deposit amount after 1 from the date of deposit.
  7. In case of death of a depositor , the Company will repay to nominee or beneficiary the principal & interest, at which it was accepted.