Invest in short term FD by doing so you can earn higher rate of interest as compare to Saving account.You can choose days or months for keeping deposit as per your requirement.

1. Period of deposit: 

Minimum 15 days maximum 364 days

2. Interest Payment: 

Quarterly interest payable on maturity

3. Maximum amount on deposit: 

No limit

4. Premature Withdrawl: 

Allowed with 1% penal interest for the tenure of deposit as on the date of deposit

5. Additional benefits for Senior citizens: 

Not Applicable

6. Benifits: 

Loan against TDR, Nomination Facility, Insurance coverage upto 5 lakh per customer

TDS

• The tax on interest earned is deductible in accordance with the provisions of the Income Tax Act 1961.
• 15G/15H is required to be submitted for exemption of TDS