Fixed Deposits are safe investments which give high returns on investment with an attractive high rate of interest together with an insurance cover. These deposits signify a larger class of investments with varying levels of liquidity. Interest is paid to investors at regular intervals in this scheme. Simple formalities are there to open the fixed deposit and the Bank pays a high rate of interest which can be fixed for monthly or trimonthly periods.
The Payyanur Co-Operative Rural Bank offers long-term and short-term fixed deposits for its customers from 15 days to long periods. The customers can select how much to invest and get assured of solid returns on investment. The customers also get to choose from a number of duration periods and decide on what is convenient and most suited for their requirements.
Usually Fixed Deposits cannot be withdrawn before the date of maturity and this ensures that the money is fully safe and would achieve its full range of potential by the date of maturity. Half % higher interest is paid to senior citizens. Deposit loan facility can be availed against your deposit.