Understanding Fixed Deposits

Fixed deposits (FDs) are one of the most popular investment options in India. They offer a safe and reliable way to grow your savings with guaranteed returns. At Shree Laxmi Co-Op Credit Society, we offer competitive interest rates on fixed deposits, making them an attractive option for investors looking for stability and predictable returns.

What is a Fixed Deposit?

A fixed deposit is a financial instrument offered by banks and financial institutions where you deposit a lump sum amount for a specified period at a predetermined interest rate. The key features of a fixed deposit include:

• Guaranteed Returns: The interest rate is fixed at the time of opening the deposit
• Tenure Options: Choose from 7 days to 10 years
• Safety: Security and stability for your investment
• Regular Income: Option for regular income

Types of Fixed Deposits

Shree Laxmi offers several types of fixed deposits:

1. Regular Fixed Deposit

This is the most common type of fixed deposit, where you deposit a fixed amount for a fixed period and receive the principal and interest at maturity.

2. Cumulative Fixed Deposit

In this type of deposit, the interest is reinvested into the deposit amount, giving you a larger lump sum at maturity.