What is Fixed Deposit Savings?
Fixed Deposit Savings is a product for disciplined, long-term savers who want to lock a lump sum for a defined duration while earning interest. This product is ideal for those who do not need immediate access to their funds.
Key Details:
- Interest Rate: 9.5% – 17.5% per annum (tiered by duration)
- Withdrawals: Only allowed via breaking the plan; early withdrawal forfeits accrued interest
- Top-Up: Not allowed (one-time deposit)
- Halal-Compliant: Option to opt out of interest
FAQs
- Minimum Duration: 1, 3, 6, 12 months
- Early Withdrawal: Allowed but forfeits interest
- Top-Up: Not allowed
- Notifications: You will receive a notification at maturity
- Halal Compliance: Interest can be opted out of