A Fixed Deposit is an investment account where money is deposited for a fixed period and the interest rate does not change. It offers higher interest rates than ordinary savings accounts and is ideal if you want to save for a specific goal, like a wedding or a holiday.

What you need to know about ESF FD account.

With ESF fixed deposit account, you can invest a sizeable amount of money at a predetermined rate of interest for a fixed period. At the end of the tenure, you receive the lump sum, along with an interest, which is a good money-saving plan. Our bank offers different rates of interest for a fixed deposit account.

You can choose a fixed deposit for a period ranging from minimum 7-14 days to maximum 10 years. This is why an fixed deposit is sometimes called a term deposit. When you open a fixed deposit account at a specific interest rate, it is guaranteed, for the rate of interest remains the same, irrespective of any changes, which happen due to market fluctuations.

The interest you earn is either paid at maturity or on periodic basis depending on your choice. You are not allowed to withdraw the money before the maturity. If you want to, you have to pay a penalty.

Who can Apply?

Individuals 18 years and above with funds that do not require immediate use.