How can I extend the duration of my FD of ₹5 Crores?

You can easily extend your ₹5 crore fixed deposit by opting for auto-renewal at maturity. Some institutions even offer an additional payout or rate benefit when you choose to reinvest the amount for another term. With interest rates starting around 7% per annum, it’s a smart way to keep your funds earning without interruption.

• Renew at Maturity: When your FD ends, you can renew it for another term.
• Set Up Auto-Renewal: Many banks and non-banking financial companies (NBFCs) provide auto-renewal options, automatically rolling over your ₹5 crore FD for the same or a new tenure at prevailing rates-typically between 7% and 8%-keeping your investment continuously active.
• Consult with Your Bank or NBFCs: Before the FD matures, call or visit your financial institution. They might ask for a form to extend your ₹5 crore for, say, 1–5 more years.
• New Rates Apply: Extending means you get the bank’s or NBFCs current rate, maybe 7% p.a. or up to 9% p.a.
• Choose a Longer Term: You can extend a 1-year FD to 3 years but check if the rate changes or stays at 7% p.a.
• Avoid Early Changes: Attempting to extend your FD before maturity may be treated as a premature withdrawal, resulting in penalties that reduce your ₹5 crore principal.