The deposit has a fixed tenure of 375 days. It offers an interest rate of 6.75% per annum, with an additional 0.50% for senior citizens.
Customers can invest a minimum of ₹10 lakh and up to ₹3 crore. Premature closure and loans against the deposit are allowed.
A key feature of the scheme is a 375-day Super Top-up Health Insurance cover worth ₹5 lakh, which includes cashless hospitalization.
The product also offers lifestyle benefits via the RuPay Select Debit Card.
The scheme is open to resident individuals aged 18 to 75, either individually or jointly. In joint accounts, only the primary holder gets the insurance cover.
A fixed deposit (FD) is a type of savings product where customers deposit a lump sum amount for a fixed tenure at a predetermined interest rate. It is a low-risk investment that provides guaranteed returns and is a popular option for individuals looking to save securely.
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