FD Interest Rates 2024

Fixed Deposit Mumbai

Fixed Deposit Mumbai

Last Updated : Aug. 24, 2017, 12:01 p.m.

About Mumbai

Mumbai is popularly known as financial, commercial and entertainment capital of India. It is the capital of Indian state of Maharashtra. The city lies on the west coast of India and has a deep natural harbour. Mumbai is the headquarter of many financial institutions such as Bombay Stock Exchange, Reserve Bank of India, National Stock Exchange, the Mint and an industrial hub of leading companies like Tata Group, Essel Group, and Reliance Industries. Mumbai is one of the top 10 centers of Commerce in terms of global financial flow with GDP being $278 billion (as of 2015).The city is known to be the third most expensive office market in the world and was ranked among the fastest city for the business startups in India in the year 2009.

About Fixed Deposit

Fixed deposit is a type of term deposit offered by banks where the amount invested gets blocked for a fixed time period in order to yield returns. The returns are solely based on the time intervals chosen by the customer. The returns on fixed deposit are guaranteed to every customer since it has no relation with the stock market. The customers as per their own preferences can choose FD on the lower amount as well so accordingly it can go for lesser interest rate and tenure. The time period of FD ranges from 7, 15 or 45 days to 1.5 years and the longest tenure being 10 years. The liquidity on FD in terms of returns will vary accordingly.

Fixed Deposit Mumbai in a nutshell

Interest Rate3.00% - 9.25%
Minimum Investment Amount₹ 1,000
Tenure7 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

An Individual, Hindu Undivided Family, Sole Proprietorship ConcernID 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
TrustsCopy 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/ClubsBy-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 FirmPartnership 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 CompaniesBoard 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 NameMain Branch AddressInterest Rate
SBI16th Floor
Madam Cama Road,
Mumbai 400 021
2.90% - 6.20%
Bank of BarodaShop No. 1 to 4, Ground Floor, Yash Residency, Plot No 6, Sector 6, Navi Mumbai, Maharashtra - 4007082.90% - 6.30%
Bandhan BankPlot No - 18, Sharadchandrika, Akka Colony, Yawal Road, Chopda, Maharashtra, Pin - 4251073.00% - 5.75%
Canara BankKrishna Panth Niwas, 204 Raja Ram Mohan Roy Road, Girguam, Mumbai-4000042.90% - 5.75%
HDFC BankHDFC Bank Limited,
HDFC Bank House, Senapati Bapat Marg
Lower Parel (W), Mumbai - 400 013.
2.50% - 6.25%
Allahabad BankManish Commercial Centre, 216A, Annie Besant Road, Worli Mumbai - 4000252.90% - 5.65%
Andhra BankAML Center 2, Maha Kali Caves Road, Andheri East, Mumbai, Maharashtra 4000933.00% - 5.40%
Axis BankBombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400 025.2.50% - 6.50%
ICICI BankICICI Bank Towers,
Bandra-Kurla Complex, Mumbai 400 051.
Tel : +91-22-33667777
2.50% - 6.30%
PNBMaker Tower F-Wing, 7th Floor, Cuffe Parade World Trade Centre Mumbai2.90% - 5.75%

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