Get high-interest FDs up to 9.45% annually
Why consider fixed deposits (FDs)?
Fixed Deposit
Enjoy guaranteed interest rates starting as high as 7%
Low risk
Your principal
amount is safe
No market fluctuations
Your returns are fixed and not dependent on the share market
Best partners
We work with licensed corporate and bank FD providers to get you
Stable growth with fixed deposits
Build Your Child's Future, One FD at a Time
Compare the best FDs on our app
Frequently Asked Questions
What are the types of FDs offered in India?
a) Traditional Fixed Deposit:
Interest amount is credited at regular intervals, i.e., Quarterly or Monthly. Customer can opt for Monthly/Quarterly payout at the time of creating the Fixed Deposit.
b) Cumulative Fixed Deposit:
Customer will receive a lump sum amount after maturity. The interest accrued is added back to the principal amount at quarterly intervals.
Who can invest in EduFund Fixed Deposits?
Currently Resident Individuals are eligible to apply for a regular Fixed Deposit online. Also, the Savings Account should be KYC verified.
What is the rate of interest on EduFund Fixed Deposits?
EduFund has partnered with multiple banks, and NBFC (Non-Banking Finance Corporation). The interest rates offered by the banks and NBFCs vary. Check the EduFund app or connect with your relationship manager to get the prevailing interest rate.
Who can open a fixed deposit account?
Currently, Fixed deposits can be opened by resident individuals only.
What are the available interest payment options?
Fixed deposits offer both cumulative (interest paid at maturity) and non-cumulative (periodic interest payouts) options.
Do senior citizens get any additional benefits?
Yes, senior citizens (above 60 years) typically get an additional interest. Check the EduFund app for prevailing rates and benefits from different providers
Can I prematurely withdraw my fixed deposit?
Yes, most fixed deposits allow premature withdrawal, though some may have a lock-in period. Interest rates for premature withdrawals are usually lower than the contracted rate.
What are the tax implications?
Interest earned on fixed deposits is taxable as per the applicable income tax slab rates. TDS may be deducted if the interest exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year.
How do I renew my fixed deposit?
You can renew your fixed deposit by submitting a request on the EduFund app or writing to our customer support team. You can also connect with your Relationship Manager.
What documents are required to open a fixed deposit?
You will need to provide documents like PAN card, proof of identity, and proof of address.
Can I open a fixed deposit online?
Yes, EduFund allows you to open fixed deposits online through the mobile app.