Product Details
Bank Name
Muthoot Finance
Eligibility
Resident Individuals
Interest Rate
6.25% - & 7.25% p.a
Tenure
1- 5 Years
Fixed Deposit Type
Regular : Cumalative Deposit
Scheme C FD
Tax Benefits
Only provided on FDs with lock-in period of 5 Years.
Credit Ratings
[ICRA]A1+
Interest Payment Frequency
Annual Payment Plan
Cummulative/Non-Cummulative
Cumalative Deposit (maturity Plan)
Features
Minimum deposit amount: Rs. 1,000 Tenure: 1 year – 5 years Renewal facility is available on maturity date Loan against FD: Available Can be held jointly (max. 3 applicants)
Minimum Investment Amount
Rs. 1000
Fees and Charges
Pros
Higher Interest Rates
Encourages Saving
Assured Maturity Amount
Cons
Lower Liquidity
Lower Effective Interest Rate
Pros & Cons
Account Opening and Procedure
How to Open?
There are two main ways to open a Muthoot Finance Scheme C - Cumulative Deposit:
Visit a Muthoot Finance branch: This is the traditional way to open a fixed deposit account. You can find your nearest branch using the Muthoot Capital branch locator on their website https://www.muthootfinance.com/branch-locator. Once at the branch, speak with a representative about opening a Scheme C Fixed Deposit account. They will guide you through the application process and collect the necessary documents.
Open an account online (availability may vary): Muthoot Capital might offer the option to open a fixed deposit online. Check their website under the Fixed Deposits section https://www.muthootcap.com/fixed-deposits/ to see if this option is available. If so, you should be able to find a link to the online application form.
Application Procedure
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.
Add a Title
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.