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Yes, you can re-invest the final maturity amount of your Fixed Deposit (FD) by choosing the “Re-invest” option when finalizing the maturity instructions for the FD. The principal amount as well as the interest earned on it will be re-invested.
Most banks and NBFCs offer an additional interest rate over regular fixed deposit interest rates for senior citizens.
Here’s how our different bank partners offer additional interest rates to senior citizens.
It generally takes two working days for the withdrawn amount to be reflected in the connected bank account.
Deposit Insurance and Credit Guarantee Corporation (DICGC) is an RBI subsidiary that provides insurance cover for deposits and guarantees credit facilities. Currently, the DICGC coverage is ₹5 lakh per account (separately for accounts in separate banks) . In case the bank goes under liquidation or loses its license, the bank account holders will receive up to the insured amount for that account.
The minimum deposit amount for all banks with Ventura is Rs. 1,000 except North East SF Bank, for which it is Rs. 5,000. The maximum amount is Rs. 10,00,000.