Ftd & Mtd Full Form In Banking – Complete Guide

ftd full form in banking

About Ftd

Ftd full form in banking is Fixed Term Deposit Scheme. A fixed-term deposit means an investment for a fixed interval. A customer can invest his or her money for a fixed period. Based on the period banks provide different rates of interest. As we all know, in India there are lots of public, private, Small finance, cooperative, and regional rural banks. And all the banks follow the RBI rules and regulations. Because RBI is the centralized bank above all the banks.

In India, there are different Cooperative Banks, Commercial Banks, Regional Rural Banks (RRB), Small Finance Banks, and Payments Banks. All these banks have different working and different rates of interest on saving accounts, fixed-term deposits, recurring deposits, etc.

About Mtd

Ftd and Mtd full form in banking Ftd is fixed term deposit and Mtd is standards for Month to date or Month till date. Mtd gives information on any particular campaign result. Mtd is all about the period to give information for that particular time. The Mtd period is calculated from the beginning of the current month until today’s date and does not include today’s date. The reason behind not including the current date is that today’s date is not complete yet. For example, the Month till date for the date 25th May is from 1st May till 24th May.

ftd and mtd full form in banking

Benefits of FTD & MTD

Under the Fixed Term Deposit scheme, the customer can fix money as per their financial need. If the duration is long, the rate of interest is also higher for customers. In Ftd full form in banking, the rate of interest is varying from bank to bank and also varies as per the customer age group.

Ftd full form in banking is about an investment of a fixed amount for a fixed period. InFtd investment has a variable maturity date. The duration should last from 7 days to 10 years. Fixed Deposit rate of interest depends on majorly two factors:  length of time & the funds invested. As the name says, A Fixed Deposit investment is like a continuous Deposit or fixed deposit for a specific time. The investment can be removed when the Ftd is matured.

The minimum investment for the fixed-term deposit is Rs 5000 and the interest rate ranges from 4% – 8.5%. The customer can also use the FD calculator to calculate the rate of interest. 

If we compare Ftd and Rd then the interest rate on Ftd is higher than the interest rate on Ftd.

Must Visit: Trtr Full Form In The Banking, What Does TRTR Mean In Banking Statement?

Mtd Details

Month till date is used for providing information about a specific activity. This activity happened for a particular time. Mtd helps banks and customers to identify issues in banking and predict future requirements. Mtd also helps the banks to identify the problems in real-life scenarios across the system by enabling course correction with immediate effect.

Month to date has different applications across the different range of sectors in the globe for different ranges of activities. In the context of investment and economics, the Mtd helps to determine the returns for a particular month. Mtd helps to compare between the current period and the past period.

Conclusion

Ftd and Mtd full form in banking is related to investment and future prediction for a specific period. A fixed-term deposit is an investment of a set of money for a specific time as per your financial need. In fixed-term deposits, the interest rate varies as per the set amount your invest and also the period you choose for maturity. In a fixed-term deposit, the customer gets the money after the maturity. If the customer breaks the fd before the maturity then the customer will not get that money. In a fixed-term deposit, if you invest money more than 50,000 rupees. Then you have to pay TDS (tax deduction source) and also give the Pan card at the time of investment.

Except for Mtd and Ftd, there are other terminologies like Qtd, and Ytd. All these are vital tools to help to predict future behavior and requirements.