The National Housing Bank or NHB is a regulatory authority formed under the Reserve Bank of India. This public financial services company accepts deposits from the public. The company offers medium to long-term fixed-deposit schemes.

Fixed Deposit Interest Rates

National Housing Bank offers FDs with interest rate varying from 7.25% to 7.50% for fixed deposits. For the minimum FD tenor one year, the bank offers 7.25% interest. For the next slab of two year-long deposits, the rate remains the same at 7.25%.

For FDs that are between three to five years duration, the rate jumps by 0.25% to 7.50%.

General Terms And Condition

] Non-Cumulative Scheme – Interest shall be payable half yearly on 1st April and 1st October every year.

2] Cumulative Scheme – Interest will be compounded quarterly and payable on maturity.

3] Deposits shall be accepted for a minimum of Rs. 50,000/- and multiples of Rs. 10,000/- thereafter.

4] Additional rate of 0.60% p.a. for Sr. Citizens.

5] Interest payment will take place through ECS / Post Dated Cheques.

6] Nomination facility available.