Fixed Deposit Receipt (FDR)

One traditional investment scheme popular amongst every household in India is the Fixed Deposit Scheme, also known as Term Deposit. With no complications and detailed documentation, it is considered one of the most sorted and simple investment schemes available for all. Almost all the banks and other financial institutions offer FDs at different interest rates. Once an investor opts to open an FD Account, the institution or bank provides a receipt as acknowledgment known as the Fixed Deposit Receipt (FDR).

Read more
Best Investment Plans
  • Save upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD+

Get Guaranteed returns upto 7.5%*
Invest in 100% Guaranteed Return Plans with Tax benefits under sec 80C & No Tax on returns*
+91
Secure
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

What is FDR (Fixed Deposit Receipt)?

An investor receives an acknowledgment certificate from the bank or any institution wherein they open a Fixed Deposit Account. This acknowledgment certificate, which includes essential details like the name of the FD Holder, address, age, etc., is known as the Fixed Deposit Receipt.

Fixed deposits can be opened online and offline; in both cases, the FD Receipt is provided to the FD holder. The FD Scheme holder can also avail of income tax benefits if the scheme term is more than 5 years depending upon the bank, post office, or any other financial institution.

Fixed Deposit Receipt Components

An FD Receipt is a certificate that consists of the following components:

Details of the FD Holder

When an individual opts for an FD, the following details are mentioned in the Fixed Deposit Receipt:

  • Name of the holder

  • Age of the individual

  • Customer ID

  • Bank account number

  1. The FD Tenure

    The Fixed Deposit tenure is pre-decided at the time of the purchase and can never be changed throughout the tenure.

  2. The Rate of Interest

    The FD rate of interest is fixed and can be changed only at the time of FD renewal. So, when an individual purchases an FD, the interest is defined in the FD Receipt. The FD receipt will be updated at the time of renewal, and so will the interest rate.

  3. Maturity Date

    As the FD Tenure is pre-decided, the date of maturity is automatically fixed and mentioned on the Fixed Deposit Receipt. The maturity date helps in planning the future accordingly.

  4. Auto-Renewal

    For the auto-renewal of the Fixed Deposit scheme, the FD holder needs to select the auto-renewal option at the time of FD purchase.

  5. Premature Charges on FD

    If the FD holder wishes to withdraw money from their Fixed Deposit before maturity, a penalty is charged against it, which varies from institution to institution. The penalty amount or percentage is mentioned on the Fixed Deposit Receipt, making it easy for the depositor.

  6. Nomination facility

    Fixed Deposit also offers a nominee facility under its scheme wherein the depositor can nominate a person who will be eligible to receive the FD amount in case of the account holder's demise.

  7. Final Maturity Amount

    Under the fixed deposit receipt format, the final maturity amount at the end of the pre-decided tenure is mentioned for the reference of the FD holder. The maturity amount helps provide a clear understanding to the depositor and plan their future goals accordingly.

Requirement of Fixed Deposit Receipts

An FD Receipt is an important document and is required in the following cases:

  1. In Case of Premature Withdrawal

    Fixed Deposit Receipt acts as proof of ownership of the FD in the depositor's name in case they wish to withdraw their scheme prematurely. It is important to hold an FD receipt for carrying out any such transaction.

  2. In the case of FD Renewal

    Suppose the depositor wishes to renew their FD scheme after the completion of the previous FD tenure. In that case, they need to surrender the Fixed Deposit Receipt to the bank to receive a newly issued receipt.

  3. In Case of Opting for Loan

    A loan facility is available on an FD scheme offered by all banks and other financial institutions at a lower interest rate compared to other unsecured loans. To avail of the loan facility, the Fixed Deposit Receipt needs to be deposited to the bank as a lien and will be given back once the FD holder entirely pays back the loan.

Documents Required to Open FDR (Fixed Deposit Receipt) Account

  • Savings account in the bank

  • ID Proof

    • Passport

    • Aadhaar Card

    • Voter ID

    • Driving License

  • Address Proof

    • Salary Slip

    • Electricity Bill

    • Telephone Bill

    • Bank Statement

  • Date of Birth Proof

    • In the case of minors, a Birth Certificate

    • In the case of Senior Citizens

      • Passport

      • PAN Card

      • Driving License

      • Voter ID

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
#Discount offered by insurance company
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

FD Calculator

Total Investment

₹500 ₹30L
Enter Total Investment

Rate of Interest (Yearly)

1% 15%
Rate of Interest (Yearly)

Time Period

1 Year 15 Years
Enter Time Period
Interest Earned
Maturity Amount
Get Higher Return

FD Rates articles

Recent Articles
Popular Articles
Tax Saver Fixed Deposit for Section 80C Deductions

24 Nov 2023

A Tax Saving Fixed Deposit is a financial instrument designed to
Read more
Banks in India

31 Aug 2023

Banks in India play an important role in the country's financial
Read more
Karur Vysya Bank FD Interest Rates

14 Aug 2023

Karur Vysya Bank or KVB FD interest rates range from 4.00% to
Read more
एचडीएफसी एफडी ब्याज दरें

10 Jul 2023

एचडीएफसी एफडी ब्याज
Read more
FD Vs PF, EPF, VPF

18 Apr 2023

Savings and emergency funds are two crucial aspects of financial
Read more
Application for Withdrawal of Fixed Deposit
Fixed Deposits are the safest investment instruments. You invest the amount of your choice as the fixed deposit
Read more
Fixed Deposit Monthly Income Scheme
The monthly income scheme of Fixed Deposit has gained popularity among investors. It is considered liquid as it
Read more
SBI Fixed Deposit Monthly Income Scheme
Fixed deposits are the safest investment vehicles for Indian financial planners. You can open a fixed deposit
Read more
SBI Fixed Deposit Double Scheme
The SBI Fixed Deposit Double Scheme is named Special Term Deposit to cater to investors looking to double their
Read more
ICICI FD Premature Withdrawal Penalty Calculator
ICICI offers various fixed deposit schemes which are highly liquid. The fixed deposit schemes allow partial
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL