Fixed Deposit Hyderabad
Last Updated : Jan. 16, 2017, 4:34 p.m.
About Hyderabad
Hyderabad is a capital of Telangana state in India. One of the popular monument -Charminar beautifully symbolizes the city. Golconda fort is another major landmark in Hyderabad. Historically, the city is known as a pearl and diamond trading centre, which continues to be called as the City of Pearls. Also, Hyderabad is famous to be the largest contributor to the GDP(Gross Domestic Product) recorded to be at $ 10 billion(₹700,000 million) as in 2011. The city has emerged to be the strong base for IT enterprises, biotech, insurance and financial institutions. Hyderabad is also known as Cyberabad (Cyber City) as the city is regarded as the global centre of information technology.
About Fixed Deposit
Fixed deposit is a trusted financial instrument preferred by a common man. The money gets parked in this term deposit for a fixed interval which yields attractive returns subject to the interest rate and tenure chosen by the customer. The liquidity on fixed deposit varies subject to the tenure chosen by the customer. Upon maturity, if the interest amount on FD exceeds ₹ 10,000, then the customer is liable to pay taxes in that financial year. There are various banks which offer the automatic renewal facility of FD where the deposits get renewed for a similar term as that of the original deposit at the prevailing rate on the date of renewal.
Fixed Deposit Hyderabad 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 | Bank Street, Sultan Bazaar, Koti, Hyderabad, Telangana 500095 | 2.90% - 6.20% |
| Bank of Baroda | 5 - 9 - 27/78 Lakehill Road, Adarsh Nagar | 2.90% - 6.30% |
| Bandhan Bank | K1 Pride 26/A Mig, Bearing Minicipal No-7-1-397/5/A, Sanjeeva Reddy Nagar Colony, Balkampet Main Road, Beside Sbi, Hyderabad, Telangana 500038 | 3.00% - 5.75% |
| Canara Bank | Plot No.41D, Venkatagiri Cross Road, Road No.5, Jubilee Hills- 500033 | 2.90% - 5.75% |
| HDFC Bank | 6 - 1 - 73 Gr Floor, Saeed Plaza, Lakdikapul, Hyderabad - 500004, Andhra Pradesh | 2.50% - 6.25% |
| Allahabad Bank | IFB Branch, 6 - 3 - 850/3, Srinivas Plaza, Near Seesh Mahal, Ameerpet, Hyderabad - 500016, Andhra Pradesh | 2.90% - 5.65% |
| Andhra Bank | 1 - 4 - 972/2, Bakaram, Hyderabad - 500048 | 3.00% - 5.40% |
| Axis Bank | Sri Krishna Ashray, 4 - 3 - 537 & 4 - 3 - 538 Hanuman Tekdi, Off Bank Street Hyderabad , Andhra Pradesh, Pin -500095 | 2.50% - 6.50% |
| ICICI Bank | Hema Durga Plaza, Opp., Allwyn Colony, Miyapur, Hyderabad - 500049, Hyderabad Dist., Andhra Pradesh. | 2.50% - 6.30% |
| PNB | 4 - 1 - 427, Troop Bazaar, Bank Street, Hyderabad, AP 500001 | 2.90% - 5.75% |