Capital Gains|Indian Bank Fixed Deposit Rates-– Interest Rate, Calculator & Benefits

Fixed Deposit Details

Bank Name

Indian Bank

Eligibility

Assesses who are eligible for exemption under section 54, 54B, 54D, 54F, or 54G of the income tax act 1961. Depositors themselves have to verify whether the scheme applies to them or not.

Interest Rate

2.80 - 7.10% per annum.

Tenure

7 days to 3 years.

Fixed Deposit Type

Capital Gains

Tax Benefits

This scheme is specifically designed to help individuals manage the tax implications of capital gains. When you sell assets like shares, real estate, or mutual funds and earn a profit, you may be subject to capital gains tax. This scheme provides a way to invest the capital gains proceeds and potentially reduce the tax burden. Investing the capital gains proceeds in this scheme can help you claim a tax deduction under Section 112A of the Income Tax Act. This deduction can reduce your overall tax liability.

Credit Ratings

CRISIL AAA

Interest Payment Frequency

Quarterly or monthly basis with a discount. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.

Cummulative/Non-Cummulative

Both

Features

• The payment of interest shall be done through the Saving Bank account or Term Deposit account.
• Minimum amount is Rs. 1000.
• Minimum tenure of deposit is 7 days and the maximum tenure can be up to 3 years.

Minimum Investment Amount

1000

Features & Benefits

Pros

• This scheme is specially designed to reduce the tax implications of capital gains.
• No limit on the maximum deposit amount.

Cons

The maximum tenure of deposit is 3 years only.

Pros & Cons

How to Open?

You can open the FD online by visting the website https://www.indianbank.in/#!

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