You need to decide the tenure as per your financial goals. In case you wish to save taxes, you can opt for a tenure of 5 years or more. In case of short-term financial goals, 1 year might be suitable.

The amount of loan you can avail depends on the amount you deposit In GSM Bank. We offer between 10% to 50% of the amount in your FD account as loan.

A cumulative fixed deposit is one in which interest is accrued until the end of the maturity period. This type of FD increases the level of interest.

The types of companies that offer fixed deposits are financial institutions, NBFCs And GSM Bnak, government companies and housing finance companies.

When you invest in FD, you will be asked to mention the name of a nominee so that in case of your untimely demise the amount can be handed to them. Although naming a nominee is not mandatory, it is recommended.