Like a Bank, Financial institutions and Non-Banking Finance Companies (NBFCs) also offers Fixed Deposits for a fixed term carrying a pre-specified interest rates.

Corporate FDs are also rated by the credit rating agencies and this rating is considered as an important factor while deciding the company to invest in. These agencies access the credit quality looking at the adequacy of cash flow and strength of servicing the debt obligations. We at RUPEESTOP select a deposit schemes with highest-safety options to ensure that you enjoy the best of returns and with due safety of your capital.

Two type of schemes are available for deposits i.e. Cumulative Interest Schemes and Non Cumulative schemes.

‘Non cumulative scheme’ the interest is payable at end of every year; which is convenient for personals who require a periodical interest payment.

In ‘’Cumulative deposit scheme’, interest is paid only at the time of maturity along with the principal and this can be thought of as a money multiplier scheme.

Yes, a maximum of three people can maintain a joint account which would be payable to “Anyone or Survivor” or “No. 1 or survivor”. ANYONE OR SURVIVOR (A OR S) – On maturity, the deposit receipt can be discharged by anyone of the depositors. However, for a premature payment and loan all the depositors` signatures are required.

There will be absolutely no change in the interest as company is obliged to pay the contracted rate till its maturity as per the current rules.

The decision rests solely upon the directives of the Reserve Bank of India. If the Reserve Bank of India is specific that the increase should bear a prospective effect from a particular time, it cannot be done immediately. The revised rates will apply only to fresh deposits and renewals. However, the benefit of the revision can be passed on to the existing depositors by a process of ‘Premature renewal’ subject to RBI rules.

If estimated annual interest paid/credited or likely to be credited/paid on the deposit/s exceeds or is likely to exceed Rs.5000/- during the financial year, it is obligatory on part of the deductor of tax to deduct income tax at source.

However, to avoid such deduction of Tax, the investors can furnish self-declaration in Form 15G/H or by submitting the Exemption certificate FROM THE PRESPECTIVE INCOME TAX AUTHORITY for every financial year.

Loan may be granted 75% of the deposit amount. Loan will be given to any depositor who has live FD in company which is more than 3 months old. The FDR will be marked with lien against the release of the loan.

However, granting of loan will be at the sole discretion of the company.  No loan will granted against Minor & Deposits made by NRI’s .