About Bengaluru
Bengaluru is the capital of Karnataka in India. It is a referred to as “Silicon Valley of India” or “IT Capital of India” due to its proactive role in being the nation’s IT exporter. Bengaluru is the second fastest growing metropolitan city in India. The city also ranks fourth in India by its overall GDP contribution, valued at $ 83 billion. After IT hub, the city endeavours to emerge itself being the dedicated facility center for companies in financial services. Moreover, 70% of all the major rose exports falls in the lap of Bengaluru from India and the city is known to be the leader in the floriculture business.
About Fixed Deposit
Fixed Deposit is a safe instrument widely preferred by customers so as to protect their principal amount along with interest generated thereon. The time interval is a governing factor behind yielding of interest. There are varying time intervals on FD which ranges from 7, 15 or 45 days to 1.5 year and the longest being 10 years. FD offers higher interest rate as compared to savings account. If a customer chooses the FD for different time periods at different amount, the liquidity tend to vary accordingly. On maturity, if the customer wishes to reinvest it further then the amount gets cumulated in accordance to the previous interest and principal amount added thereon.
Fixed Deposit Bengaluru in a nutshell
| Particulars | Details |
|---|---|
| Interest Rate | 3.00% - 9.25% |
| Minimum Investment Amount | ₹ 1,000 |
| Tenure | 7 days – 10 years |
Fixed Deposit Eligibility Criteria
Individuals
Hindu Undivided Families (HUFs)
Minor represented by parents/guardian
Guardian on behalf of societies, clubs, trusts and associations
Associations
Clubs
Trusts
Sole proprietorship firms
Partnership firms
- Limited Companies
Documents Required For The Fixed Deposit
| Category | Documents |
|---|---|
| An Individual, Hindu Undivided Family, Sole Proprietorship Concern | ID Proof – Passport, PAN Card, Driving Licence, Voter ID, Government ID Card, Senior Citizen ID Card Address Proof - Telephone Bill, Electricity Bill, ID Card Issued by Post Office, Bank Statement with Cheque, A photograph |
| Trusts | Copy of the Trust Deed Copy of the registration certificate Copy of the Resolution of the Trustees authorizing the members concerned to open and operate the account Photographs of the members operating the account |
| Associations/Clubs | By-laws of the Association Copy of the Resolution by the board authorizing the members concerned to open and operate the account Photographs of the members operating the account |
| Partnership Firm | Partnership Deed Letter from partners approving the persons concerned to open and operate the account Photographs of the persons operating the account |
| Public or Private Limited Companies | Board Resolution / Authority Letter Memorandum & Articles of Association Certificate of Incorporation Certificate of Commencement of Business (Public Limited Company) Form 32 in case list of directors are not original subscribers to Memorandum & Articles of Association (in case of Private Limited Cos) Duly acknowledged by ROC Governing Act / Rules and Regulations(PSUs) (certified true copy) |
Top Banks Fixed Deposit Interest Rate and Address
| Bank Name | Main Branch Address | Interest Rate |
|---|---|---|
| SBI | Vasavi Complex, St. Mark's Road, Distt. Bengaluru Urban, Karnataka -560001 | 2.90% - 6.20% |
| Bank of Baroda | APMC Yard Branch, P.B.NO.2222, APMC YARD, Tumkur Road, Yeshwanthpur, Bengaluru, 560022 | 2.90% - 6.30% |
| Bandhan Bank | Bannerghatta Slip Rd, KEB Colony, New Gurappana Palya, Jayanagara 9th Block, BTM Layout 1, Bengaluru, Karnataka 560029 | 3.00% - 5.75% |
| Canara Bank | 102, 103, 104 - 110, PB No 6588, Avenue Road, Bengaluru- 560002 | 2.90% - 5.75% |
| HDFC Bank | Site. No. 43, G Block, , 60 Feet Main Road, Sahakar Nagar, Bengaluru - 560092, Karnataka | 2.50% - 6.25% |
| Allahabad Bank | No. 2, FKCCI Building , K G Road , Bengaluru | 2.90% - 5.65% |
| Andhra Bank | Sujatha Complex, 1st Main Road, Gandhinagar, Bengaluru - 560009 , Karnataka | 3.00% - 5.40% |
| Axis Bank | No. 9, M.G. Road, Block -A, Bengaluru-560001 | 2.50% - 6.50% |
| ICICI Bank | ICICI Bank Ltd Towers, 1, Commissariat Road, Ground Floor, Bengaluru- 560025. | 2.50% - 6.30% |
| PNB | Vokkaligara Sangha Building, Hudson Circle, Bengaluru - 560027 | 2.90% - 5.75% |
