1. Regular Fixed Deposits
Standard FDs with fixed tenure and interest rates. Example: ₹5L FD @7% for 5 years earns ₹1,75,000.
2. Tax-Saving FDs (5-Year)
Eligible for ₹1.5 lakh deduction under Section 80C. Interest is taxable but offers guaranteed returns.
3. Senior Citizen FDs
0.5% extra interest for citizens above 60. SBI offers 6.7% vs. 6.2% for regular customers.
4. Cumulative FDs
Interest reinvested and paid at maturity. A ₹10L FD @7% for 5 years gives ₹13,50,000 total (principal + interest).
5. Non-Cumulative FDs
Periodic interest payouts. Ideal for monthly income: ₹10L FD @7% gives ₹5,833/month.
6. Flexi Fixed Deposits
Link your savings account to FD. Excess funds beyond a threshold (e.g., ₹1 lakh) auto-convert to FDs.
7. Sweep-In/Sweep-Out FDs
Automate transfers between FD and savings accounts. Kotak’s Flexi FD offers this feature.
8. Corporate FDs
Offered by NBFCs like Bajaj Finance. Higher rates (8.5%) but slightly higher risk than bank FDs.
9. Post Office FDs
Government-backed FDs with tax benefits. 7.5% for 5 years, but limited to ₹15 lakh per account.
10. NRE/NRO FDs
For NRIs. NRO FDs are taxable in India, while NRE FDs offer tax-free interest.