Fixed Deposit Details

Bank Name

Muthoot Capital Services

Eligibility

Resident Individuals

Interest Rate

7.40 to 9.00% per annum.

Tenure

1- 5 Years

Fixed Deposit Type

Regular

Scheme B FD

Tax Benefits

Offered only on FDs whose lock-in period is of 5 years.

Credit Ratings

[ICRA]A+

Interest Payment Frequency

Annual Interest Plan. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.

Cummulative/Non-Cummulative

Non Cumulative

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

Features & Benefits

Pros

Competitive Interest Rates
Regular Interest Payouts
Flexibility in Tenure
Safe and Secure
Meager minimum deposit amount

Cons

Early Withdrawal Penalty
Not Tax-Saving

Pros & Cons

Account Opening Procedure

How to Open?

Visit the Muthoot Capital website: [muthoot capital fixed deposit ON Muthoot Capital muthootcap.com]
Click on "Apply Now" button on the top right corner of the page.
Enter your name, email ID, and mobile number.
A One-Time Password (OTP) will be sent to your mobile number. Enter the OTP.
Enter the captcha code and click on "Continue".
Fill out the application form with details like investment amount, tenure, etc.
Make sure all the details are correct before submitting the form.
You can make the deposit payment either by cheque or demand draft drawn on a scheduled bank and payable at Kochi. The cheque/demand draft should be addressed in favor of "Muthoot Capital Services" and marked "A/C PAYEE ONLY".

Application Procedure

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