Product Details
Bank Name
Indian Bank
Eligibility
Account should be opened in the name of an Indian resident.
Interest Rate
3.85 to 7.10%
Tenure
Minimum 6 months
Maximum 10 years
Fixed Deposit Type
Regular
Fixed Deposit
Tax Benefits
No
Credit Ratings
CRISIL AAA/CRISIL AA+/Stable/CRISIL A1+
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
Cumulative
Features
1. Automatic renewal facility for equal period 2. Loan / nomination /pre closure facilities available.
Minimum Investment Amount
INR 1000
Features & Benefits
Pros
Flexible Tenure Options
Competitive Interest Rates
Loan Facility
Easy Management
Cons
Early Withdrawal Penalty
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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