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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

  Individual (singly or jointly) / HUF

NRI (NRO /NRE)

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

Religious, Charitable or Educational Institutions.

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

(Ten Thousand Only)
Maximum Amount Less than Rs.3 Crore

Note :* w.e.f 12.06.24 , Limit of maxmium investement per customer per day stands revised to less than Rs.3 Crore from less than Rs.2 Cr. 

Bulk deposits of Rs.3 crore & above are not eligible.
PERIOD OF DEPOSIT  

400 Days
RATE OF INTEREST

 

  

7.30 %
Additional Rate of Interest
  • 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
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 with Pre closure Penalty as applicable to Normal Term Deposits as per existing Norms
AUTO ROLL OVER FACILITY If the scheme is continuing on the date of maturity: –

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

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

  • Deposits will automatically renew under Exact one year at the prevailing rate on Maturity Date.
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 SMART
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.
  •   All other terms and conditions in respect of existing domestic term deposit scheme are applicable to these product also.

 

 

 

( Last modified on Oct 19, 2024 at 06:10:54 PM )

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