This article offers a brief summary of the key aspects of the Indian Bank’s Short Term Deposit schemes. Since these details are subject to frequent updates, please refer to the bank’s official website for the most current information on features and interest rates.
Indian Bank – Short Term Deposit Features:
- The deposit starts at a minimum of Rs.1000/- and can be made in multiples of Rs.100/-.
- There’s no maximum limit for the deposit amount.
- The interest earned is compounded with the principal upon maturity.
- The deposit tenure spans from a minimum of 7 days to a maximum of 180 days.
- Interest will be paid along with the principal upon maturity, subject to TDS.
- An additional interest of 0.50% p.a. is payable on this deposit.
- Additionally, an automatic renewal facility is available for the original deposit period.
- After 10 years, the account is closed and can be opened afresh.
How to invest?
Click here to invest in the Indian Bank’s Short Term Deposit schemes.
Note: The information presented here is sourced from publicly available data. We cannot be held responsible for any inaccuracies in the details. For the most current and accurate information, please visit the official website of the respective bank/institution.