Assam Gramin Vikash Bank Fixed Deposit Rates

Assam Gramin Vikash Bank is operated by the Ministry of Finance, Government of India. The Bank provides its investors with the facility of fixed deposits for a span of 7 days to 10 years. Besides investment, Assam Gramin Vikash Bank provides tax benefits to its customers having fixed deposits.

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Features

Following are some features offered by Assam Gramin Vikash Bank under FD schemes:

  • A nomination facility is available.
  • An auto-renewal facility is available.
  • TDS is applicable as per the IT Rules.
  • Quick and easy liquidity options are available. 
  • Tax benefit on the deposition of the amount up to Rs. 1,50,000 under the tax-saving term deposit scheme for investors.
  • Partial withdrawal facility is available.
  • Interest payout options are available such as monthly, quarterly and many more. 
  • A Fixed Deposit account can be opened either through the online portal of Assam Gramin Vikash Bank or by paying a visit to the nearest Assam Gramin Vikash Bank.
  • The time span of the fixed deposit in the Assam Gramin Vikash Bank ranges from minimum 7 days to maximum 10 years. 
  • Non-Residential External (NRE), Non-Resident Ordinary (NRO), and Foreign Currency Non-Resident (FCNR) facilities for deposit are available for the investors.

Eligibility

The following list shows who all are eligible to open an account or invest in the Assam Gramin Vikash Bank Fixed Deposit: 

  • Minor
  • Company
  • Body Of Individuals (BOI)
  • Proprietary And Partnership Firms
  • Non-Registered Indian (NRI)
  • Limited Liability Partnership (LLP)
  • Registered Society
  • Association Of Individuals
  • Individual 
  • Trust
  • Local Authority
  • Hindu United Family (HUFs)

Assam Gramin Vikash Bank Fixed Deposit Rates 2021

Refer to the table below to know the Assam Gramin Vikash Bank Fixed Deposit Rates for 2021.

Policy Period

Interest Rates

30 Days

4.00%

45 Day

4.00%

60 Days

4.00%

90 Days

4.50%

120 Days

5.00%

6 Months

5.00%

9 Months

6.00%

12 Months

6.25%

2 Years

6.25%

3 Years

6.25%

4 Years

6.25%

5 Years

6.00%

10 Years

6.00%

*Standard terms and conditioned applied

FD interest have fallen consistently over the last 5 years.
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Senior citizens have the benefit to get higher interest rates for their fixed deposit accounts than regular customers. The following table shows the fixed deposit rates for senior citizens offered by Assam Gramin Vikash Bank: 

Period

Interest Rates for Senior Citizens

30 Days

4.00%

45 Days

4.00%

60 Days

4.00%

90 Days

4.50%

120 Days

5.00%

6 Months

5.00%

9months

6.00%

12 Months

6.75%

2 Years

6.75%

3 Years

6.75%

4 Years

6.75%

5 Years

6.50%

10 Years

6.50%

*Standard terms and conditioned applied

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Assam Gramin Vikash Bank Fixed Deposit Interest Rates: Things to Know!

Few things one must know about Assam Gramin Vikash Bank are:

  • Fixed deposit investors can get interest rates from 4.0% p.a. to 6.0% p.a. as the chosen FD tenure.
  • Investing in Assam Gramin Vikash Bank is a beneficial option for senior citizens, as it is one among the few small finance banks that offer senior citizens higher interest rates.
  • Interest on fixed deposit in Assam Gramin Vikash Bank is calculated as shown below:
  • The Bank pays simple interest at maturity on the fixed deposit for a deposit period of below 6 months.
  • For a fixed deposit time of 6 months or above, the Bank calculates interest quarterly.
  • Any Cumulative Interest on the deposits is calculated quarterly. 

In Conclusion

Assam Gramin Vikash Bank Fixed deposits offer reasonable interest rates on deposits to the customers. They can always check with the Bank before finalizing on opening an FD account. It must be noted that the customers carry out thorough research before investing.

Written By: PolicyBazaar - Updated: 03 September 2021
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