Toxic assets

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V. You can also get an overdraft against your fixed deposit to meet urgent cash requirements without breaking your deposit.

LiquidDeposit meaning

In case of partial withdrawal of the Liquid Plus FD, value of fixed deposit after the partial withdrawal should be equal to or more than the minimum fixed deposit value.

For instance, Bank of Baroda (BOB) has rolled out a recurring deposit plan which is similar to a recurring deposit wherein depositors can deposit small deposits in regular intervals across 6 to 20 months.

In the liquid plus fixed deposit, interest payouts are as per financial year. Monthly interest payouts will be on first of every month, quarterly interest payouts will be on the first of every quarter, half-yearly payouts will be on 1 October and 1 April.

Isfixeddepositliquidasset

Types of assetsliquidfixed, Frozen

This fixed deposit scheme enables depositors to open an account with ₹50 and thereafter in multiple of ₹50 (rural and semi-urban). The fixed deposit (FD) gives loan/overdraft facility upto 95 percent of the deposit amount.

The newly-launched fixed deposit scheme offers an interest rate of 6.75 percent per annum across tenures which range between 7-180 days. So, one can open a fixed deposit for any time period ranging between one week to six months to earn an interest of 6.75 percent.

A number of banks have lately rolled out new deposit schemes to woo the current and new depositors. Some of these schemes are rolled after making minor tweaks in the regular deposit schemes.