What is the minimum and maximum tenure for FD?

Here are the most common minimum and maximum tenures for fixed deposits (FDs) available at financial institutions in India:

Minimum Tenure:

1. 7 days: Most financial institutions offer FDs for a minimum period of 7 days.
2. 15 days: A few small finance companies have a slightly higher minimum tenure of 15 days.
3. 1 month or 30 days: The 30-day FD tenure is also quite commonly available.

Maximum Tenure:

1. 5 years: Though rare, there are a few small finance companies that provide FDs only for a maximum of 5-year tenure.

Financial institutions may have different slab-based interest rates for different FD tenures. Customers can choose tenure based on their liquidity needs and investment goals.

Important Considerations

• Short-term FDs (less than 180 days) typically offer lower interest rates
• Tax-saving FDs under Section 80C come with a mandatory lock-in period of 5 years
• Senior citizen schemes may have specific tenure requirements
• Certain special FD schemes might have fixed, non-flexible tenures (like 555 days or 999 days