FDR full form in banking is a Fixed Deposit Receipt, a ½ page document given by the bank to an investor. It works as investment proof and includes essential details like account details, investor name/names, and FD details. In addition, it also contains details about the interest rate, FD tenure, deposit type (non-cumulative and cumulative), maturity amount, compounding frequency, premature withdrawal penalty, and the date of maturity. FDR is very similar to an invoice or bill in appearance.

It can offer a higher interest rate in comparison to a savings bank account and carry minimal risk. Moreover, a depositor can pre-select the date of maturity. In India, all banks (private or public banks) provide the facility to open FDs from the branch or online through phone applications.

Components of Fixed Deposit Receipt

• Full Name, address, and age of the applicant
• Investor’s bank account details
• Value date and deposit amount
• Tenure, the rate of interest, and date of maturity
• Maturity amount and interest amount
• Auto-closure and auto-renewal
• Nomination and nominee details
• Premature withdrawals or penalty

What things to check in Fixed Deposit Receipt

• Interest Rate
• Deposit Term
• Maturity Date
• Auto-renewal
• Prepayment penalty
• Nomination