How to Get Fixed Deposit Guaranteed Returns in India

Apr 10, 2023 Rajeev Kumar

If you want to get guaranteed returns on your fixed deposits, here’s a strategy you can follow.

[{"selector":"#anim-5ecf5cd7-c55e-401f-9760-410e13024d9e","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-8899db48-f816-4d4b-8c0f-8114b9948b8d","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Bank deposits of up to Rs 5 lakh are insured under RBI's Deposit Insurance Credit Guarantee Scheme (DICGC)

[{"selector":"#anim-7d90abc4-a180-41a3-abc9-d3faa3dd51e4","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-bef3b285-02d3-4359-83f6-fe93c6827ffc","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Even small finance banks are also classified as scheduled banks and their depositors are covered under the DICGC.

[{"selector":"#anim-10138146-d885-412d-a190-837fd647718c","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-d3298400-196d-4e6f-be9c-a3f8d263e8c7","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The insurance covers each depositor of each scheduled bank for cumulative deposits (including fixed, current, savings and recurring deposits) of up to Rs 5 lakh, in case of bank failures.

[{"selector":"#anim-ec90d3a5-3761-4b56-b27e-55e6a12a72a7","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-4923c25d-945c-49a0-af7c-9761bc5290ab","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Depositors seeking higher returns but with highest possible capital protection features should spread their high-yield Fixed Deposits with multiple scheduled banks

[{"selector":"#anim-75cbaeb6-e560-412d-bb38-0f74b361232b","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-0e77fdd0-21ae-4ea0-bdb3-14421004a846","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The money should be spread in different banks in such a way that their cumulative deposits with each scheduled bank do not cross the Rs 5 lakh limit.

[{"selector":"#anim-3fb38502-bbc0-48a7-8dcc-dfaba869210b","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-f544310a-0a8f-4ef1-9abc-3f043750bd32","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] See Next