Fixed Deposit

A Fixed Deposit (FD) is a financial instrument provided by PARKEN NIDHI to its members, which provides members a with higher rate of interest than a regular savings account, until the given maturity date. For a fixed deposit is that the money cannot be withdrawn from the FD as compared to a  recurring Deposit or a demand deposit before maturity. PARKEN NIDHI offer additional services to FD holders such as loans against FD certificates at competitive interest rates.

Popular Fixed Deposit Schemes

Scheme CodeTenureRate of Interest (%)FD AmountMaturity Amount
FD_12 Month12 Months9.251000010925
FD_24 Month24 Months9.351000011957
FD_36 Month36 Months9.451000013111
FD_48 Month48 Months9.551000014402
FD_60 Month60 Months9.651000015841

Popular Monthly Income Schemes ( M.I.S )

Scheme CodeTenureRate of Interest (%)FD AmountMaturity Amount
MIS_12 Month12 Months850000333 FOR 12 M.
MIS_24 Month24 Months8.2550000344 FOR 24 M.
MIS_36 Month36 Months8.550000354 FOR 36 M.
MIS_48 Month48 Months8.7550000365 FOR 48 M.
MIS_60 Month60 Months950000375 FOR 60 M.

Terms & Conditions:

  1. It is mandatory to be a member in the Company.
  2. Company will issue shares worth Rs.100/- to FD account holder.
  3. Minimum FD would be of Rs.1000.
  4. Interest calculated quarterly compounded.
  5. Applicable TDS to be deducted on Interest as per the provisions of Income Tax Act.
  6. Loan available against deposit up to 75% of deposit amount after 1 from the date of deposit.
  7. In case of death of a depositor,the Company will repay to nominee or beneficiary the principal & interest, at which it was accepted.