Indian Bank Recurring Deposit – Get information about Indian Bank RD Interest Rates, Indian Bank RD, Indian Bank RD Rates, Schemes, Features & Benefits.
Indian bank was established on 15th August 1907. The bank believes in being a “Common Man’s Bank” by providing every possible financial service to the customers. Working via wide network of more than 2500 branches, the bank also focuses on rural development. Indian bank offers recurring term deposit and also variable recurring deposit (FlexiRD) in order to make every individual start, regular monthly savings to grow into a large sum to meet the financial needs at the end of the pre decided period.
FEATURES OF A REGULAR RD ACCOUNT
- Monthly installment of Rs. 5 and in multiples thereof.
- Loan against deposit facility can be availed.
- Nomination facility available.
- TDS is applicable.
- Pre mature withdrawal can be done.
- INTEREST APPLICATION – Quarterly compounding.
Indian Bank Recurring Deposit Interest Rates
Indian Bank Recurring Deposit Less than Rs.1 Crore.
|Period||General Rates (% p.a) Less than Rs.1 Crore|
|181 days to less than 9 months||5.75|
|9 months to less than 1 year||6.25|
|Above 1 year to less than 2 years||6.25|
|2 years to less than 3 years||6.25|
|3 year and above||6.00|
Indian Bank Recurring Deposit Rs.1 Crore to Rs.5 Crore
|Period||General Rates (% p.a) Rs.1 Crore to 5 Crore|
|181 days to less than 9 months||4.50|
|9 months to less than 1 year||4.50|
|Above 1 year to less than 2 years||4.50|
|2 years to less than 3 years||4.50|
|3 year and above||4.50|
VARIABLE RD ACCOUNT
- It is a recurring deposit scheme with an option of varying the monthly installments.
FEATURES & BENEFITS
- Initial deposit of Rs. 25 or in multiple of Rs. 25 upto a maximum of Rs 1 lakh can vary subsequent Monthly instalment subject to a maximum of Rs. 10 lakhs per month.
- Pre closure facility available.
- Tenure period ranges from a minimum of 12 months & maximum of 120 months.
- Loan & Nomination facility available for the depositor.
- No penal interest on delayed payment of installments
- TDS is applicable
- Interest will be paid on the minimum balance between 10th and the last day of month.
- INTEREST APPLICATION – QUARTERLY COMPOUNDING