Term Deposit

What is a term deposit? With a term deposit, you lock away an amount of money for an agreed length of time (the 'term') – that means you can't access the money until the term is up. In return, you'll get a guaranteed rate of interest for the term you select, so you'll know exactly what the return on your money will be.

We have two types of term deposits. the first, in which interest is paid to your SB on monthly/quarterly basis. This scheme is called Fixed Deposit.

In second one, the interest is added back to principle on quarterly basis. Here you get the benifit of compounding interest. This Scheme is called Vijay Cash Certificate.