Fixed Deposit Details
Bank Name
Indian Bank
Eligibility
Individual (singly or jointly) / HUF
NRI (NRO /NRE)
Firm (Proprietorship/Partnership), Company, Association, Society, Club in its name.
Religious, Charitable or Educational Institutions.
Municipality or Panchayat, Government or Quasi Government Body
Interest Rate
7.30% to 7.80%
Tenure
400 days
Fixed Deposit Type
Regular
IND SUPER 400 DAYS
Tax Benefits
None
Credit Ratings
CRISIL AAA
Interest Payment Frequency
Monthly, Quarterly or at maturity. 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
Minimum deposit of 10,000.
The maximum deposit amount can be 3 crore.
Premature closure of the deposit is allowed.
Specific tenure of 400 days.
Minimum Investment Amount
10,000
Features & Benefits
Pros
Flexible interest payout options.
Competitive interest rates.
Nomination Facility
Cons
There is no flexibility in tenure.
Minimum deposit of 10,000 is required initially.
Pros & Cons
Account Opening Procedure
How to Open?
You can open the FD online by visting the website https://www.indianbank.in/#!
Application Procedure
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