For banks, fixed stores (or term stores) address an advance course of action. In straightforward terms, the cash kept through such ventures will procure a said sum as revenue, according to the current standards and rules as set by the banking administrative position. The pace of interest on your fixed store is dictated by numerous components like the area of store, the term for which the sum is saved as additionally the money required for putting aside the installment.
The top banks in India offer the latest interest rates on fixed deposits to their employees. However, the tenure or period for which these are offered, are different from one bank to the other. The tenure can range from a period of 7 days to that of a decade that is 10 years. Also, there are many banks that offer separate interest rate to the general citizens and the people belonging to the senior citizen category. Usually, the percentage of interest that is offered to the senior citizens is high in comparison to the one offered to the general citizens. The maximum interest offered stands to 6.75% p.a.and the same offered to senior citizens stands to 7.50% pa.and the tenure for the same ranges between 5-10 years.