A fixed deposit (FD) is a financial instrument provided by banks or NBFCs which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account.
Fixed Deposit Features & Benefits:
- 1. Attractive and assured Return.
- 2. Impeccable services.
- 3. A wide range of deposit products to choose.
- 4. Quarterly interest will be credited to the depositor's Bank account, if opted.
Terms & Conditions:
1. It is mandatory to be a member in the company.
2. Company will issue 10 shares (10/- Rs each) for the FD Plan.
3. Minimum FD would be of Rs.10000 and further in multiple of Rs. 1000.
4. Interest calculation Quaterly/Monthly compound.
5. TDS Deducted to be Deducted on interest. Paid by Brofin Mutual India Nidhi Ltd. on Deposit as per provisions and Income tax Act.
6. Loan available against deposits up to 70% of deposited amount after one month from the date of deposit.
Premature Closure Of Deposits:-
Foreclosure of Depositswill not be permitted until completion of 3 months From the date of Deposits. Deposits foreclosed after 3 months but before 6 months from the date of Deposits no Interest will be paid. Deposits foreclosed after 6 months, interest at 2% shall be deducted from the normal rate of Simple Interest for the period of Deposit.
FD - 12 MONTHS |
|||||
| S.No | AMOUNT | INTEREST | INVESTMENT | COMPOUND INTEREST RECEIVED | GROSS TOTAL |
|---|---|---|---|---|---|
| 1 | 5,000 | 10.50% | 60,000 | 546 | 60,546 |
| 2 | 10,000 | 10.50% | 120,000 | 1,092 | 121,092 |
| 3 | 20,000 | 10.50% | 240,000 | 2,184 | 242,184 |
| 4 | 30,000 | 10.50% | 360,000 | 3,276 | 363,276 |
| 5 | 50,000 | 10.50% | 600,000 | 5,460 | 605,460 |
| 6 | 100,000 | 10.50% | 1,200,000 | 10,921 | 1,210,921 |
| 7 | 200,000 | 10.50% | 2,400,000 | 21,841 | 2,421,841 |
FD - 24 MONTHS |
S.No | AMOUNT | INTEREST | INVESTMENT | COMPOUND INTEREST RECEIVED | GROSS TOTAL |
|---|---|---|---|---|---|
| 1 | 5,000 | 10.50% | 120,000 | 1,152 | 121,152 |
| 2 | 10,000 | 10.50% | 240,000 | 2,303 | 242,303 |
| 3 | 20,000 | 10.50% | 480,000 | 4,607 | 484,607 |
| 4 | 30,000 | 10.50% | 720,000 | 6,910 | 726,910 |
| 5 | 50,000 | 10.50% | 1,200,000 | 11,517 | 1,211,517 |
| 6 | 100,000 | 10.50% | 2,400,000 | 23,034 | 2,423,034 |
| 7 | 200,000 | 10.50% | 4,800,000 | 46,068 | 4,846,068 |
| FD - 36 MONTHS | |||||
| S.No | AMOUNT | INTEREST | INVESTMENT | COMPOUND INTEREST RECEIVED | GROSS TOTAL |
|---|---|---|---|---|---|
| 1 | 5,000 | 10.50% | 180,000 | 1,824 | 181,824 |
| 2 | 10,000 | 10.50% | 360,000 | 3,647 | 363,647 |
| 3 | 20,000 | 10.50% | 720,000 | 7,294 | 727,294 |
| 4 | 30,000 | 10.50% | 1,080,000 | 10,941 | 1,090,941 |
| 5 | 50,000 | 10.50% | 1,800,000 | 18,235 | 1,818,235 |
| 6 | 100,000 | 10.50% | 3,600,000 | 36,470 | 3,636,470 |
| 7 | 200,000 | 10.50% | 7,200,000 | 72,941 | 7,272,941 |
| FD - 60 MONTHS | |||||
| S.No | AMOUNT | INTEREST | INVESTMENT | COMPOUND INTEREST RECEIVED | GROSS TOTAL |
|---|---|---|---|---|---|
| 1 | 5,000 | 10.50% | 300,000 | 3,395 | 303,395 |
| 2 | 10,000 | 10.50% | 600,000 | 6,790 | 606,790 |
| 3 | 20,000 | 10.50% | 1,200,000 | 13,581 | 1,213,581 |
| 4 | 30,000 | 10.50% | 1,800,000 | 20,371 | 1,820,371 |
| 5 | 50,000 | 10.50% | 3,000,000 | 33,952 | 3,033,952 |
| 6 | 100,000 | 10.50% | 6,000,000 | 67,905 | 6,067,905 |
| 7 | 200,000 | 10.50% | 12,000,000 | 135,810 | 12,135,810 |