Fixed Deposit Details
Bank Name
Indian Bank
Eligibility
Individual (singly or jointly)
HUF
NRI
Firm (Proprietorship/Partnership), Company, Association, Society, Club in its name.
Religious, Charitable or Educational Institutions.
Municipality or Panchayat, Government or Quasi Government Body
Any other entity not prohibited by RBI.
Interest Rate
7.05 to 7.55% per annum.
Tenure
300 days
Fixed Deposit Type
Regular
IND SUPREME 300 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 5,000.
The maximum deposit amount can be 3 crore.
Premature closure of the deposit is allowed.
Specific tenure of 300 days.
Minimum Investment Amount
5,000
Features & Benefits
Pros
Flexible interest payout options.
Competitive interest rates.
Nomination Facility
Cons
There is no flexibility in tenure.
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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