Term deposits, or fixed deposits, are one of the most preferred savings and investment options because of their risk-free, guaranteed returns. One term that is commonly used while discussing term deposits is Term Deposit Receipt (TDR). 


Before you learn more about the term deposit receipt, it is important for you to know about term deposits.

What are Term Deposits?

term deposit is a reliable investment tool offered by financial institutions at a higher rate of interest than a savings account. When you deposit a sum of money in a term deposit, you choose to keep the money deposited with the financial institution for a fixed tenor. You earn interest on this amount at a fixed percentage for the mentioned duration.

What is the Meaning of Term Deposit Receipt?

A Term Deposit Receipt (TDR) is a document that is provided to you by financial institutions when you invest in a term deposit with them. This document contains the following details:

  • Your name

  • Age

  • Address

  • Deposit amount

  • Investment tenor

  • Applicable interest rate on the deposit

  • Interest you get on FD maturity

  • Nominee name

  • Date of booking the deposit

  • Maturity date of your deposit

  • FD account number

  • Instructions related to the deposit


A term deposit receipt is an important document that you must keep safely, as it is an acknowledgement and proof of your ownership of the term deposit.

What is a Term Deposit Receipt Used for?

When you book a term deposit with any financial institution via online or offline mode, you will be provided with a term deposit receipt. It is an important document that needs to be kept securely.


It is required when you have to renew your term deposit. Once your deposit matures, in case of an offline FD, you have to surrender the term deposit receipt for FD renewal. This way, you will be issued a new term deposit receipt when your deposit gets renewed for a new tenor.


If you are facing a financial crunch, you may not want to withdraw your FD before maturity. In this case, you can avail a loan against your FD at comparatively lower interest rates than that of a personal loan. 


You have to submit your term deposit receipt to the issuer and the same will be kept as a surety. Upon loan repayment, your term deposit receipt will be returned back to you.


You may also need to submit a term deposit receipt in case of a premature withdrawal. If you want to prematurely withdraw your FD  before maturity, a term deposit receipt is essential to prove your ownership.

What do I Need to Check in a Term Deposit Receipt?

When the issuer gives you a term deposit receipt, there are a few factors you need to check for. A few of them are mentioned below:

  • Check if the applicable rate of interest and tenor of the deposit are mentioned accurately.

  • Pay attention to the renewal dates, if you have opted for the auto renewal mode

  • Understand the charges and penalties you have to bear in case of premature withdrawal

  • Make sure the nominee details are filled in properly


These are a few things to note once you receive your term deposit receipt. Now that you are familiar with the term deposit receipt, here are a few terminologies related to fixed deposits you should be aware of.  

Fixed Deposit Related Terms

  • Cumulative Term Deposit

This is a type of term deposit where the interest amount is compounded over the investment period of the deposit and is paid to you at maturity. The interest earnings are paid as a lump sum along with the principal or invested amount.

  • Non-cumulative Deposit

In a non-cumulative term deposit, the interest amount is paid to you on a periodic basis, i.e., monthly, quarterly, semi-annually, or annually. This is ideal for those who require a regular source of income to manage their expenses.

  • Term Deposit Sweep-in

This is a flexible option that allows you to earn a higher rate of interest on funds lying idle in your savings account. You can use it to set a maximum limit on your savings account.


If this limit crosses, the excess funds will then form a term deposit. On the other hand, if there is a deficit in your savings account, the required funds will be taken from your term deposit. This way there is no need to withdraw your FD to meet your unexpected financial emergencies.

  • Short-term Deposit

This type of deposit has a lock-in tenor ranging from 7 days to 12 months. You can choose to invest a lump sum for a short term and earn a higher rate of interest on the same. These fixed deposits are ideal if you want to save up your money for planning a vacation or buying an expensive gadget. 

  • Long-term Deposit

A long-term deposit has a lock-in period ranging from 5 to 10 years. These types of term deposits provide a higher interest rate compared to short-term deposits. This fixed deposit type is the best option to meet your long-term financial goals.

  • Senior Citizen Term Deposit

These term deposit schemes are offered to individuals who are over the age of 60 years. Senior citizen term deposits usually provide a higher rate of interest as compared to other term deposit schemes. The FD interest rates vary from 0.25%-1% over and above the prevailing rates depending on the issuer. 

  • Post Office Term Deposit

It is a scheme offered by post offices where you can save and invest money for a fixed period and earn guaranteed returns on the invested amount.

  • Tax-saving Term Deposits

This type of term deposit is eligible for tax deductions of up to ₹1.5 Lakhs under Section 80C of the Income Tax Act, 1961. These term deposits have a minimum lock-in period of 5 years. Any interest income above ₹40,000 from these term deposits is taxable. If you are above 60 years of age, you can get an exemption up to ₹50,000. 


Now that you are familiar with term deposit receipts and some FD-related terminologies, it is time to invest in a term deposit. Investing in a term deposit can help you grow your funds in a safe and secure way and away from market volatility. Book an FD today and get your term deposit receipt. You can book the FD online in a hassle-free manner on Bajaj Markets. 

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The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial investment advice or endorsement of any sort. 

The information including interest rates with regard to fixed deposit, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any investment or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products. 

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FAQs About Term Deposit Receipt

Does a term deposit receipt include nomination related information?

Yes, a term deposit receipt has all the details of the nominees included in the scheme.

Does the term deposit receipt provide any information about TDS?

Yes, a term deposit receipt contains the information regarding the tax that may be deducted from your returns.

How to claim the deposit amount if I lose the term deposit receipt?

You have to submit a written application to the issuer mentioning the details of your term deposit. You may also apply for a duplicate term deposit receipt after submitting required documents as proof. You may contact the customer care team of your issuer to get the right assistance.

Can I invest in a term deposit online?

Yes, many financial institutions provide you with the option to invest in a term deposit through their online portals

Who can invest in term deposits?

Residents, minors (through their guardian), Hindu Undivided Families (HUF), family trusts, group companies, limited companies, partnership firms, sole traders, associations, clubs and societies can invest in a term deposit.

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