Eligibility to Open an Indian Bank FD Account
When considering to invest in Indian bank FDs, investors have to fulfil the following criteria:
1. You must have an individual or joint FD account with the bank.
2. NRIs can only invest through NRE and NRO accounts.
3. Investor should be memeber of HUF which stands for Hindu undivided family.
4. Minors can invest in these FDs as well, but they must be accompanied by their parents or guardians.
5. For these sort of Investments ,Trusts, public and private limited companies, partnerships, and sole proprietorships are also eligible.
Indian Bank FD Interest Rates 2024
Indian Bank is a nationalized banking and financial services company with its main office located in Chennai, Tamil Nadu. It is owned by the Government of India (Ministry of Finance). Serving more than 100 million customers, it is regarded as one of India’s best-performing public sector banks. Customers of Indian Bank have access to a wide range of FD options that allow them to secure their funds and earn interest. The interest on savings accounts is often lower than the rates offered by Indian banks on fixed deposits. When opening an account, a customer must deposit at least the required minimum amount. Once the account is opened, the consumer cannot make any changes or make more deposits.
For fixed deposits below ₹2 crore, the interest rate varies from 2.80% to 6.70% annually. The maturity period can range from seven days to over five years. The bank gives senior citizens who deposit up to ₹2 crore an extra interest rate of 0.50% p.a. The deposit rates under the “IND Super 400 days” special program vary from 7.25% to 8.00%.
Table of Content
- Indian Bank FD Interest Rates: Less than ₹2 crore
- Indian Bank FD Interest Rates: ₹2 crore to ₹5 crore
- Benefits of Indian Bank Fixed Deposit
- Types of Indian Bank FD Schemes
- How to Invest in Indian Bank FD?
- Eligibility to Open an Indian Bank FD Account
- Documents Required to Open Indian Bank FD
- Tax on Indian Bank Fixed Deposit
- Loan Against Indian Bank FD
- Premature Closure of Indian Bank Fixed Deposit
- FAQs