FD card gives the customer the facility of instant credit card against fixed deposits. Customers get three different variants of credit cards. 90% of the FD amount is fixed in the credit card limit.
Are you aware of Bank Fixed Deposit (FD). You would have done it too. It is considered as a good way of investment because a fixed income comes in hand on time. You just have to invest once and get money every month, every quarter, every half year or yearly. Here is the structure of FD. But do you know about FD Xtra? It is clear from the name that FD Extra is also FD but two steps ahead of FD. Like FD, it also gives security and assured return on the deposited capital. But now people are not only concerned with security and returns. Now people investing money need growth and some flexibility in the way they invest and withdraw money. This is what FD Extra gives.
FD Extra adds something extra to your FD account. Private sector bank ICICI offers 4 variants under FD Xtra. FD Life, FD Invest, FD Income and FD Card. That is, if a customer wants some extra on FD or wants a separate benefit, then he can invest in these 4 variants. These variants offer high return on investment to the customers along with protection on their investment, monthly income match credit card, critical illness treatment facility.
How much interest
The amount of interest completely depends on the tenure of the investment and the rate of interest. On investment for 7 to 14 days, normal people get 2.50 percent and senior citizens get 3 percent interest. Similarly, on investment of 15-29 days, general and senior citizens get 2.5 and 3% interest respectively. 3 and 3.30 percent for 30-45 days, 3 and 3.50 percent for 46-60 days, 3 and 3.50 percent for 61-90 days, 3.50 and 4 percent for 91-120 days, 121 to 184 days 3.50 and 4 percent, for 185-289 days 4.40 and 4.90 percent, for 290 days to less than 1 year, 4.40 and 4.90 percent, for 1 year to 389 days, 4.90 and 5.40 percent, 390 days to less than 18 months 4.90 and 5.40 percent for day, 5 and 5.50 percent for 18 months to 2 years, 5.15 and 5.65 percent for 2 years 1 day to 3 years, 5.35 and 5.85 percent for 3 years 1 day to 5 years, 5 years 5.50 for 1 day to 10 years and 6.
What is FD Life
In this, with the return of FD, the facility of life cover is available. If a person makes an FD of Rs 3 lakh for 2 years, then he gets an insurance of Rs 3 lakh for 1 year. This FD can also be started online. In this, at least 3 lakh rupees have to be deposited. The rate of interest is the same as that offered on other FDs. TDS is deducted on interest earned.
Know about FD Invest
In this, the customer gets an opportunity to invest in mutual funds through SIP with safe returns on investing money. Interest is earned every month on the principal amount you have invested and the same interest is invested in mutual fund SIP. In this FD also, at least Rs 3 lakh will have to be deposited. This FD can be opened for 12 months to 10 years.
What is FD Income
Through this FD, the depositor is given regular income every month from the bank. Any citizen of India can open this FD. Facility to open single or joint account is given. A minimum of Rs 1 lakh has to be deposited in this FD. After this, if you want, you can deposit more money in multiples of 25 thousand. These FDs start for at least 24 months. Later you can increase it in multiples of 1 month. On maturity, the amount of principal and interest is deposited in the annuity FD and thereafter monthly payment is made in your savings account every month.
What is fd card
FD card gives the customer the facility of instant credit card against fixed deposits. Customers get three different variants of credit cards. 90% of the FD amount is fixed in the credit card limit. For FD card, a minimum deposit of 10 thousand rupees has to be kept for 6 months. FD card can be opened only in auto renewal mode. 10 thousand, 30 thousand and 75 thousand rupees can be deposited in FD card. Its minimum duration is 6 months.
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