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 For a fixed deposit is that the money cannot be withdrawn from the FD as compared to a recurring Deposit or a demand deposit before maturity.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 Code
Tenure
Rate of Interest (%)
FD Amount
Maturity Amount
FD_12 Month
12 Months
9.25
10000
10925
FD_24 Month
24 Months
9.35
10000
11957
FD_36 Month
36 Months
9.45
10000
13111
FD_48 Month
48 Months
9.55
10000
14402
FD_60 Month
60 Months
9.65
10000
15841
Popular Monthly Income Schemes ( M.I.S )
Scheme Code
Tenure
Rate of Interest (%)
FD Amount
Maturity Amount
MIS_12 Month
12 Months
8
50000
333 FOR 12 M.
MIS_24 Month
24 Months
8.25
50000
344 FOR 24 M.
MIS_36 Month
36 Months
8.5
50000
354 FOR 36 M.
MIS_48 Month
48 Months
8.75
50000
365 FOR 48 M.
MIS_60 Month
60 Months
9
50000
375 FOR 60 M.
Terms & Conditions:
It is mandatory to be a member in the Company.
Company will issue shares worth Rs.100/- to FD account holder.
Minimum FD would be of Rs.1000.
Interest calculated quarterly compounded.
Applicable TDS to be deducted on Interest as per the provisions of Income Tax Act.
Loan available against deposit up to 75% of deposit amount after 1 from the date of deposit.
In case of death of a depositor,the Company will repay to nominee or beneficiary the principal & interest, at which it was accepted.
