Fixed Deposit of Rs. 35 Lakhs

A fixed deposit (FD) of Rs. 35 lakhs is a substantial investment that offers guaranteed returns and low risk, making it an attractive option for risk-averse investors in India. This type of investment can be made by various entities, including resident Indians and non-resident Indians (NRIs) through Non-Resident External Account (NRE) and Non-Resident Ordinary Account (NRO) accounts. Fixed deposits are typically offered by banks and non-banking financial companies (NBFCs) with tenures ranging from a few days to ten years. With a predetermined interest rate and a fixed period, a Rs. 35 lakh FD provides a secure and reliable investment opportunity. Let's learn about the benefits of investing in an FD of this magnitude.

Applying for an FD of Rs. 35 lakhs is a straightforward process that can be completed either online or by visiting a branch of your preferred bank or financial institution. Here's a step-by-step guide on how to apply:

• Research and Compare: Thoroughly research various banks and NBFCs to find the best interest rates, tenure options, and features that suit your financial goals.
• Check Eligibility Criteria: Ensure that you meet the eligibility requirements, which typically include being an Indian resident, at least 18 years old, and possessing necessary identity documents such as a PAN card and KYC documents (Aadhaar card, passport, etc.).
• Choose your Application Method: Most banks allow you to apply online through their website. Alternatively, you can visit a local branch to complete the application process in person.
• Fill Out the Application Form: Provide all required personal information, the amount you wish to deposit (Rs. 35 lakhs), and your preferred tenure. Double-check the accuracy of the information to avoid processing delays.
• Submit Required Documents: Along with the application form, you will need to submit KYC documents, proof of identity, and a passport-sized photograph. Some banks may allow digital submission of these documents. Alternatively, if you're opening an FD with the bank where you already hold a savings account, you can skip the KYC process since your details are already linked and were verified when the account was opened.
• Select Your Interest Payout Option: Decide how you want to receive interest payments—monthly, quarterly, or at maturity. Choose the option that best aligns with your financial needs.
• Make the Deposit: After completing the application form and submitting the necessary documents, transfer the funds for the FD via online banking or by depositing a cheque.
• Obtain Confirmation: Once your application is processed, you will receive a confirmation of the FD along with details like the interest rate, maturity date, and payout frequency. Keep this document for your records.

Before finalising your FD, it's advisable to inquire about any penalties for early withdrawal, as these can vary based on the bank's policies.

Airtel Finance stands out in the market as an excellent choice for your Fixed Deposit investment. With high interest rates of up to 8.75% annually, you can maximise your returns, and senior citizens and women can benefit from even higher rates. The low minimum investment of Rs. 1,000 makes it easy to get started, although investing Rs. 35 lakhs will provide a significant boost to your savings.

One of the key advantages of Airtel Finance is the digital convenience it offers. The process is fully digital, making the investment quick and hassle-free. Your investment is also secure, with safety and assurance provided through the DICGC. FDs are insured up to Rs. 5 lakhs per PAN, giving you peace of mind. Airtel Finance has partnered with reputable small finance banks and NBFCs, further enhancing the reliability of their offerings.

Airtel Finance also provides flexibility, allowing premature withdrawals after just 7 days of investment in case of emergencies. You can choose to renew your FD automatically at maturity or transfer the funds back to your savings account, depending on your preferences.