Indian Bank Fixed Deposit Types: Your Complete Guide for 2024
Indian Bank FD Type
Indian Bank Fixed Deposit Types: Complete Guide
Indian Bank Fixed Deposit Types: Complete Guide
Regular Fixed Deposit
Minimum deposit amount is Rs 1,000.
Tenure: 6 months – 10 years.
Additional 0.50% p.a. is offered to senior citizens for an amount up to Rs.10 crore.
Automatic renewal facility is available.
Nomination/loan/pre-closure facility is offered to depositors.
Interest amount is credited quarterly/monthly basis with a discount.
Short Term Deposits
Minimum deposit amount is Rs 1,000.
Tenure: 7 days – 180 days.
Additional interest of 0.50% p.a. is offered to senior citizens for amounts up to Rs.10 crore.
Additional interest of 1% p.a. is offered to staff members for amounts up to Rs.2 crore.
Additional interest of 1.50% p.a. is offered to ex-staff seniors for amounts up to Rs.10 crore.
Nomination, pre-closure facility, and loan against deposit facilities are available.
Additional interest rate will be offered on all deposits of tenure 7 days to 10 years except for NRE deposits and deposits under Capital Gain Scheme 1988.
In the case of term deposits held in the name of an HUF, the Karta of the HUF, even if he is a senior citizen, is not entitled to a higher interest rate because the deposit’s beneficial owner is the HUF, not the Karta in his individual capacity.
IB Tax Saver
Indian Bank Fixed Deposit Types: Complete Guide
This scheme is offered to depositors who want to take advantage of the tax benefit provided under section 80C of the Income Tax Act.
Loan and foreclosure are not allowed for up to 5 years.
Additional 0.50% p.a. is applicable to the senior citizen FD for an aggregate amount of up to Rs.10 crore.
Interest is credited quarterly and on monthly basis with a discount or on maturity.
Nomination facility is available.
IND SUPREME 300 Days, Indian Bank Fixed Deposit
Deposit amount of this Scheme, Mini.- Rs 5,000; Max. amount is less than Rs 3 crores.
Tenure: 300 days.
Additional 0.50% p.a. is offered to senior citizens (aged 60 years and above) and 0.75% p.a. to super senior citizens age 80 years and above on regular FDs offered to general citizens.
Auto Rollover facility will be in the maturity bucket (270 days < 1 year) of regular term deposit product Depositors can avail overdraft/loan against fixed deposit digitally through INB/IND OASIS Channels. Premature withdrawal facility is available.
IND SUPER 400 Days
Deposit amount of this scheme Min.- Rs 10,000; Max. Amount is less than Rs 3 crores.
Tenure: 400 days.
Senior citizens and super senior citizens are offered an additional 0.50% p.a. and 0.75% p.a., respectively, on regular FDs offered to general citizens.
Depositors can avail overdraft/loan against fixed deposit digitally through INB/IND OASIS Channels. Premature withdrawal and nomination facilities are available.
Capital Gains
Minimum amount of deposit is Rs 1,000.
Tenure: 7 days – 3 years.
Nomination facility is available.
Money Multiplier Deposits.
Minimum amount of deposit is Rs 1,000.
Tenure: 6 months – 10 years.
Automatic renewal facility is available.
Nomination/loan/pre-closure facility is available.
Penalty on foreclosure of Deposit is applicable.
Additional rate of 0.50% p.a. is applicable to senior citizens for an aggregate amount of up to Rs.10 crore.