A fixed deposit (FD) is a financial instrument provided by banks which provides investors with 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.Terms deposits are the most familiar type of investments paying interest. They are a savings product from a bank, credit union or building society. Your money is invested for a fixed term and you get a fixed rate of interest over that term. Opt for a Fixed Deposit Account and let your savings grow for 7 days or a decade! Make premature withdrawals in multiples of Rs. 1,000 subject to applicable charges, get a Loan or Overdraft up to 90% of your FD amount and choose from monthly or quarterly payouts.