MINTIT'S Fixed Deposit Offerings for 2024

MINTIT offers fixed deposit options with competitive interest rates from top financial institutions. Choose the one that aligns with your financial goals and risk tolerance, and enjoy secured returns by avoiding market fluctuations.

mutual funds equity
Period (months) Non - Cumulative Cumulative
Monthly % p.a Quarterly % p.a Half yearly % p.a Yearly % p.a Effective yield % p.a.
12 7.30% 7.35% 7.41% 7.55% 7.55%
18 7.44% 7.49% 7.56% 7.70% 7.85%
24 7.53% 7.58% 7.65% 7.80% 8.10%
36 7.86% 7.91% 7.99% 8.15% 8.83%
50 (JUBILEE) 7.86% 7.91% 7.99% 8.15% 9.26%
60 7.86% 7.91% 7.99% 8.15% 9.59%

Note: Renewals (0.05% + 0.50% additional).

Regular Period
Period Cumulative Non-cumulative
At Maturity Monthly Quarterly Half Yearly Annually
12-14 months 6.60% 6.41% 6.44% 6.49% 6.60%
15-23 months 6.75% 6.55% 6.59% 6.64% 6.75%
24-60 months 6.95% 6.74% 6.78% 6.83% 6.95%
Period (months) Non - Cumulative Cumulative
Monthly % p.a Quarterly % p.a Half yearly % p.a Yearly % p.a Effective yield % p.a.
12 6.83% 6.87% 6.93% 7.05% 7.05%
18 6.97% 7.01% 7.07% 7.20% 7.33%
24 7.07% 7.11% 7.17% 7.30% 7.57%
36 7.39% 7.44% 7.51% 7.65% 8.25%
50 (JUBILEE) 7.39% 7.44% 7.51% 7.65% 8.62%
60 7.39% 7.44% 7.51% 7.65% 8.91%

Note: Renewals (0.05% additional).

Regular Period
Period Cumulative Non-cumulative
At Maturity Monthly Quarterly Half Yearly Annually
12-14 months 6.60% 6.41% 6.44% 6.49% 6.60%
15-23 months 6.75% 6.55% 6.59% 6.64% 6.75%
24-60 months 6.95% 6.74% 6.78% 6.83% 6.95%
Period (months) Non - Cumulative Cumulative
Monthly % p.a Quarterly % p.a Half yearly % p.a Yearly % p.a Effective yield % p.a.
12 7.25% 7.30% 7.36% 7.50% 7.50%
18 7.39% 7.44% 7.51% 7.65% 7.79%
24 7.49% 7.53% 7.61% 7.75% 8.05%
36 7.81% 7.86% 7.94% 8.10% 8.77%
50 (JUBILEE) 7.81% 7.86% 7.94% 8.10% 9.20%
60 7.81% 7.86% 7.94% 8.10% 9.52%

Note: Renewals (0.50% additional).

Regular Period
Period Cumulative Non-cumulative
At Maturity Monthly Quarterly Half Yearly Annually
12-14 months 6.95% 6.74% 6.78% 6.83% 6.95%
15-23 months 7.10% 6.88% 6.92% 6.98% 7.10%
24-60 months 7.30% 7.07% 7.11% 7.17% 7.30%
Period (months) Non - Cumulative Cumulative
Monthly % p.a Quarterly % p.a Half yearly % p.a Yearly % p.a Effective yield % p.a.
12 7.30% 7.35% 7.41% 7.55% 7.55%
18 7.44% 7.49% 7.56% 7.70% 7.85%
24 7.53% 7.58% 7.65% 7.80% 8.10%
36 7.86% 7.91% 7.99% 8.15% 8.83%
50 (JUBILEE) 7.86% 7.91% 7.99% 8.15% 9.26%
60 7.86% 7.91% 7.99% 8.15% 9.59%

Note: Renewals (0.05% + 0.50% additional).

Regular Period
Period Cumulative Non-cumulative
At Maturity Monthly Quarterly Half Yearly Annually
12-14 months 6.95% 6.74% 6.78% 6.83% 6.95%
15-23 months 7.10% 6.88% 6.92% 6.98% 7.10%
24-60 months 7.30% 7.07% 7.11% 7.17% 7.30%

Ready to lock in your Fixed Deposit?

Contact the MINTIT team today to open your Fixed Deposit and start growing your wealth with confidence!

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FAQs

A Fixed Deposit (FD) is a financial instrument offered by banks and financial institutions where you deposit a lumpsum amount for a fixed tenure at a predetermined interest rate.

You deposit a specific amount for a fixed period. The institution pays you interest at the agreed-upon rate, either at maturity (cumulative) or periodically (non-cumulative).

There are cumulative Fixed Deposit (FD)s (interest paid at maturity) and non-cumulative Fixed Deposit (FD)s (periodic interest payouts).

  • Guaranteed Returns: Fixed Deposit (FD)s offer fixed interest rates,
    ensuring predictable returns.
  • Flexible Tenures: Choose a tenure that suits your financial goals, from a
    few months to several years.
  • Safety and Security: Fixed Deposit (FD)s are considered low-risk
    investments compared to market-linked options.
  • Easy Liquidity: In most cases, you can withdraw funds before maturity,
    although penalties may apply.
  • Loan Facility: Many institutions offer loans against your Fixed Deposit
    (FD).
  • Nomination Facility: You can nominate a beneficiary to receive the Fixed
    Deposit (FD) amount in case of an unforeseen event.
  • Senior Citizen Benefits: Senior citizens often receive higher interest
    rates on Fixed Deposit (FD)s.

  • Stable Returns: Fixed Deposit (FD)s offer fixed interest rates, making
    them a reliable income source.
  • Capital Protection: Your principal investment is relatively safe from
    market fluctuations.
  • Predictable Income: Non-cumulative Fixed Deposit (FD)s provide regular
    interest payouts, ideal for supplementary income.

Interest earned on Fixed Deposit (FD)s is taxable as per your income tax slab. TDS
(Tax Deducted at Source) may apply if interest exceeds a certain limit.

  • Lower Returns: Fixed Deposit (FD)s generally offer lower returns compared
    to riskier investments like equities.
  • Inflation Risk: Over long periods, inflation may erode the real value of
    Fixed Deposit (FD) returns.
  • Penalty for Premature Withdrawal: Early withdrawals usually incur a
    penalty on interest.

Yes, most financial institutions offer loans against Fixed Deposit (FD)s, typically
up to a certain percentage of the deposit amount.

Yes, you can usually make premature withdrawals, but there might be a penalty on
interest earned.

Generally, Fixed Deposit (FD) rates are fixed at the time of deposit. However,
some banks offer floating rate Fixed Deposit (FD)s with interest rates that change
periodically.

You can instruct your bank or financial institution to not automatically reinvest
your Fixed Deposit (FD) upon maturity.

The minimum deposit amount varies depending on the institution and the type of Fixed
Deposit (FD).

Yes, you can choose a non-cumulative Fixed Deposit (FD) option to receive interest
payments monthly.