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IND Secure

IND Secure

The salient features of the scheme are detailed here under:

SCHEME Special Term Deposit Product “IND SECURE “with a fixed maturity tenor of 444 days in the form of FD/MMD effective from 08.05. 2025.
 

 

TARGET CUSTOMERS
  • Individual (singly or jointly)
  • NRI (NRE & NRO)
  • Firm (Proprietorship/Partnership), Company, Association, Society, Club in its name.
  • HUF
  • Religious, Charitable or Educational Institutions.
  • Municipality or Panchayat, Government or Quasi Government Body
  •  Any other Entity not prohibited by RBI.
DEPOSIT AMOUNT
Minimum Amount ₹1000/-
Maximum Amount ₹2,99,99,999/-

Bulk deposits of Rs.3 crore & above are not eligible.
PERIOD OF DEPOSIT 444 Days
RATE OF INTEREST

 

 
 Customer Category ROI (% p.a )
Public including NRE & NRO 7.15
Senior Citizen (60 yrs to <80 yrs) 7.65
Super Senior Citizen (=>80 yrs) 7.90

(Additional interest offered to Senior Citizens & Super Senior Citizens are not applicable for NRI Customers)
MODE OF INTEREST PAYMENT Interest, net of TDS shall be payable on monthly/quarterly intervals or on maturity through the linked account (SB/CA) of the customer.

In case where there are no operative accounts of the customer, maturity proceeds will be paid by DD or through NEFT/RTGS as per customer’s choice.

No interest will be paid on deposits which remains for a period of less than 7 days.
NOMINATION FACILITY Available

Mandatory for Personal Customers
AUTO ROLL OVER OPTION 1.    If the scheme is continuing on the date of maturity: –

Matured Deposits will automatically renew under the same scheme with same tenor at the prevailing rate of interest on maturity date.

2.    If the scheme stands discontinued on the date of maturity: –

Matured deposits will automatically renew to exact one year at the prevailing rate on Maturity Date.

Such automatic renewal would continue, unless the Bank receives a demand for payment or instructions contrary from the customer on or before the date of maturity of original deposit or automatically renewed deposit.

Renewal Amount will be the net of Maturity Amount and TDS amount as applicable.
PRECLOSURE FACILITY Allowed
PRECLOSURE PENALTY For premature withdrawal, 1% penal interest will be levied over the applicable rate for the period the deposit has remained with the Bank.
OVERDRAFT / LOAN AGAINST DEPOSIT Allowed, can also be availed digitally through INB/INDSMART Channels.

Loans may be granted at the discretion of the bank, as per the bank extant guidelines on loan against deposits.
TDS At Applicable Rate as per Income Tax Act.
15G /15H Wherever eligible, can be submitted in Branch or through Online.
MODE OF ACCOUNT OPENING Branch/TAB/ Internet Banking /INDSMART
ANY OTHER INFORMATION RELEVANT TO THE PRODUCT
  • Bank holds the right to extend/ withdraw the facility in full or in part at its discretion at any time in future.
  • The account should be fully KYC compliant. Valid PAN/Form-60 should be obtained wherever applicable.
  • Deposits related to RD, Tax Savings, MACAD, MODs, Capital Gains Scheme are excluded under this scheme.
  • Term Deposits can be transferred from one branch to another branch at the request of the customer.
  • All other terms and conditions in respect of existing domestic term deposit schemes are applicable to these products also.

( Last modified on May 08, 2025 at 05:05:36 PM )

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