Godrej Fixed Deposit

The mere mention of Godrej conjures a vision of safety devices and storage products covering cupboards, cabinets, safe deposit vaults, and reliable steel furniture. The widely acclaimed industrial conglomerate boasts over a century and a quarter old legacy in such broad fields as aerospace, information technology, realty construction, electronics, and FMCG products.

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Godrej also offers fixed deposits at highly competitive interest rates to match your investment need in one of the most familiar vehicles for money growth. Their fixed deposit schemes for the general public are worth a closer look, for they are backed by one of India’s most trusted business houses.  

What is a Fixed Deposit?

An FD, short for the fixed deposit, is a term deposit where you park investible funds in a lump sum for a specific period.  In exchange, you earn higher interest rates to help your money grow compared to savings bank accounts. Fixed deposits are broadly classified as non-cumulative and cumulative. While the former pays out the accrued interest, the latter pays you the principal, together with the accrued compounded interest on maturity for a hefty corpus. Let us explore the Godrej fixed deposit design and weigh your options. 

Types of Godrej Fixed Deposits

Godrej fixed deposits are governed by the RBI guidelines providing you with the most critical element of fund safety, other than the company’s reputation.  However, their FDs are uncomplicated, offering only two types for a fixed tenure of three years, unlike other financial institutions like banks and NBFCs. Godrej fixed deposits belong to the non-cumulative class. The accrued interest is paid out in monthly and half-yearly frequencies, with each providing individual interest rates. 

What are the Features of Godrej Fixed Deposits?

Though the Godrej fixed deposit options are few compared to banks, they still sport several standout features. Let us check some of the salient ones:

  • The credit rating assigned to Godrej fixed deposit is CRISIL FAA+/Stable which indicates “Strong Safety.”

  • The FD is offered for a fixed three-year tenor. 

  • You must choose from the two available interest payment options. 

  • The interest rate is fixed based on the payout frequency.

  • All transactions are routed through the banking channels using NECS or NEFT.

  • Nomination facility up to two names is available in the FD, duly endorsed by two witnesses. However, you cannot nominate an NRI. 

  • Premature withdrawal of the FD is allowed after completion of six months from the commencement date, at the sole discretion of Godrej. 

  • FD receipts are not transferable. 

What are the Eligibility Criteria for Godrej Fixed Deposits?

Applicants for the Godrej fixed deposits must comply with the eligibility criteria described in the following:

Godrej Fixed Deposit Eligibility and Other Information

Applicant Status 

Only resident individuals can apply. NRIs are illegible to apply for the Godrej FD.

Joint Names 

The joint application is allowed up to three members, provided the second and the third applicants are not minors.


Minimum Rs.25000 and in multiples of Rs.1000 after that.

Rs. 40000 for Godrej employees, including the retired. 


Yes, depending on the interest-earning.

Compulsory Document 

All applicants, including minors, must submit a self-attested copy of the PAN Card.

Interest Payout

Monthly and half-yearly frequency directly credited to the FD primary account holder’s bank account through NECS or NEFT.

Interest Rates in Godrej Fixed Deposits

It is already discussed that the Godrej fixed deposit interest rates are based on the payout frequency. Accordingly, the offered interest rates are:

  • Monthly: 8.10% per annum.

  • Half Yearly: 8.25% per annum. 

In addition, you must remember the following: 

  • Interest is compounded monthly or half-yearly, depending on the chosen FD scheme. 

  • The interest calculation is affected on 365/366 days from the FD commencement date upon realization of the DD/ Cheque enclosed with the application form. 

  • Employees, retired employees, and spouses enjoy an additional 0.40% preferential rate over those offered to general citizen applicants. 

  • You are not entitled to any interest after the maturity date. You must request repayment or renewal in the prescribed form at least fifteen days before the maturity date. 

What is The Application Process for Godrej Fixed Deposits?

You do not have an online application for the Godrej fixed deposits and must follow the offline route to invest in their FD schemes. The steps to follow are described below:

  • Visit the official Godrej portal and download the fixed deposit application form. 

  • The application forms are a six-page document and ensure that you fill up all the relevant fields completely. 

  • Submit the completed application form attached with a copy of the self-attested PAN card and investment Cheque or Demand Draft drawn payable in Mumbai. 

  • Cheque or DD must be drawn favoring “Godrej and Boyce Manufacturing Co. Ltd.” and submitted at the following offices:

    • Godrej Registered Office at Mumbai.

    • Godrej office at Fort, Mumbai.

    • Offices of the fixed deposit scheme managers.

  • It is best you importantly remember that no outstation cheque or draft is accepted. 

  • Points to Note:

    • If you have not specified the interest payout plan, the company shall, at its discretion, treat it under the half-yearly payout fixed deposit plan. 

    • Plan interchange is not permitted before the expiry of the current FD. 

    • Fixed deposit receipts are mailed to the specified address in the application form. 

Income Tax Impact in Godrej Fixed Deposits

Interest-earning on the Godrej fixed deposits is liable for income tax at the holder’s slab rate.  The company deducts TDS at 10% if your accrued interest exceeds Rs.5000 in a financial year. However, if you do not fall under the tax-paying ambit, you can submit 15G or 15H at the commencement of the financial year, as the case may be, for TDS exemption. The company shall provide you with the TDS certificate for use during the compulsory ITR submission process. 

In Conclusion

Banks are the preferred financial investment institutions considering their reach and extreme safety but constricted in the offered interest rate. On the other hand, NBFCs and Corporate fixed deposits offer better returns on investment, though your choice is limited in the product range compared to banks. Godrej is a viable option for investment, being one of the oldest Indian corporate houses. The CRISIL rating bears out the perception.


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