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IND SUPER 400 DAYS

IND SUPER 400 DAYS

The salient features of the scheme are detailed here under:

SCHEME Special Term Deposit Product “IND SUPER 400 DAYS “offering higher rate of interest with fixed maturity tenor of 400 days in the form of FD/MMD
 

 

TARGET CUSTOMERS

 v  Individual (singly or jointly) / HUF

v  NRI (NRO /NRE)

v  Firm (Proprietorship/Partnership), Company, Association, Society, Club in its name.

v  Religious, Charitable or Educational Institutions.

v  Municipality or Panchayat, Government or Quasi Government Body
DEPOSIT AMOUNT
Minimum Amount 10000

(Ten Thousand Only)
Maximum Amount Less than Rs.2 Crore

Bulk deposits of Rs.2 crore & above are not eligible.
PERIOD OF DEPOSIT 400 Days

( 1 year 1 month 4 days )
RATE OF INTEREST

 
Up to 19.04.2023 From 20.04.2023
Public 7.10 % p.a Public 7.25%
Women 7.15 % p.a
ADDITIONAL INTEREST RATE

 

 Senior Citizen: 0.50 % p.a

Super Senior Citizen: 0.75 % p.a

Staff:  1.00% p.a.

Staff Senior Citizen: 1.50% p.a.

Staff Super Senior Citizen: 1.75 % p.a

(Additional interest offered to Senior Citizens, Women & Staff are not applicable for NRO/NRE)
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
PRECLOSURE FACILITY Allowed
PRECLOSURE PENALTY a)    For premature withdrawal, 1% penal interest will be levied over the applicable rate for the period the deposit has remained with the Bank.

b)    There is no discretion available for reduction /waiver of penalty for premature withdrawal of term deposits under this product

c)    No premature penalty will be levied for staff (including retired staff) deposits. Interest rate to be applied on premature withdrawal of term deposits of Staff will be the applicable rate for the period the deposit has remained with the Bank.
OVERDRAFT / LOAN AGAINST DEPOSIT Can be availed digitally through INB/IND OASIS 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/ Internet Banking /IND OASIS
ANY OTHER INFORMATION RELEVANT TO THE PRODUCT
  • Scheme Extended up to 30/06/2023
  •   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.
  •   No backdating of deposit is permitted.
  •   Deposits related to RD, Tax Savings, MACAD, MODs, Capital Gains Scheme are excluded under this scheme.
  •   All other terms and conditions in respect of existing domestic term deposit scheme are applicable to these products also.

 

 

 

( Last modified on Apr 20, 2023 at 11:04:07 AM )

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