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Indian Bank Fixed Deposit Scheme

It is very common for investors these days to compare the fixed deposit schemes from different banks before they decide where to open the account. It is advisable to compare too, as when you compare, you get to know about the best available fixed deposit schemes in the country. A lot of people compare and then settle for the Indian Bank fixed deposit account. This is because the Indian Bank fixed deposit interest rate is very impressive. Also, the bank offers other facilities such as digital accounts, customer support and easy withdrawals. Let us learn more about the highly-rated Indian Bank fixed deposit scheme from the article below.

Facilities of the Indian Bank fixed deposit account

Here are the top facilities offered by Indian Bank for customers who start FD investments at the bank:

1. Easy to access

One of the main reasons why people enjoy getting associated with Indian Bank is the ease and convenience they get. The bank has a very impressive digital presence. Not only can you open the Indian Bank fixed deposit account instantly and smoothly online, but you can also check the status of your fixed deposit at any time using the mobile banking app or the website. Then, you can also use the fixed deposit calculator before you invest to check your returns. These handy online facilities make your entire FD experience with Indian Bank very smooth and memorable.

2. Fixed returns

The Indian Bank fixed deposit interest rate is fixed. As a result, you earn steady and fixed returns on your FD investment. This proves to be highly beneficial as you can correctly predict how much you will get when the fixed deposit matures. This allows you to plan your financial goals in a very structured manner. Also, since you cannot prematurely break a fixed deposit, it helps you to stay invested in a disciplined manner and this helps you immensely in the long run.

3. Guaranteed returns

An Indian Bank interest account allows you to lock in your money in a risk-free manner. You get assured returns which you can find out by using the fixed deposit calculator. This proves to be one of the best facilities on offer as you don’t have to worry about losing your money at any time due to market fluctuations. The Indian Bank fixed deposit scheme is therefore very well suited for conservative investors who do not like taking a lot of risks when investing their hard-earned money.

4. Income benefit

Many fixed deposit schemes allow you to withdraw the interest earned at regular intervals. This acts as a good source of income for those who rely on their investments. Many senior citizens also seek this facility. For those who do not wish to withdraw the interest amount, it gets added to the fixed deposit fund and is paid out altogether at the end of the tenure of the fixed deposit.

5. Safe and secured
And finally, you stay assured of getting the best interest rates in a safe environment when you open an Indian Bank fixed deposit account. This is very helpful and allows you to lock your money with the required peace of mind. Indian Bank is a very old and trusted bank and so your money always stays safe with them.

6. Tax saving

You can save up to INR 1.5 lakhs a year for the contribution you make towards your Indian Bank tax-saving fixed deposit account. This is available under Section 80C.

These are the main reasons why the Indian Bank fixed deposit schemes enjoy so many positive ratings and reviews from the existing fixed deposit account holders.

 Opening account – the easy steps

If you wish to open your Indian Bank fixed deposit account the traditional way, all you have to do is pay a visit to the nearest branch. Then, you need to apply for the fixed deposit and fill some forms. Make the payment and your fixed deposit will commence immediately. This is a very easy way to start an Indian Bank fixed deposit account.

If however, you prefer the more modern approach of going digital, you can simply download Indian Bank’s mobile banking app or visit the official website of the bank. You can instantly start the fixed deposit after checking the Indian Bank fixed deposit interest rate and the perfect duration. You can start your FD investment in just a couple of minutes while comfortably sitting at home.

Handy benefits offered by Indian Bank on the fixed deposit schemes:

  • The FD can be opened with a contribution as low as INR 100, making it affordable for people from all walks of life. The maximum deposit amount can be as high as INR 5 crores.
  • An overdraft facility is available, which amounts to 90% of the deposit value.
  • You can take a loan against your Indian Bank fixed deposit scheme.
  • Indian Bank allows premature withdrawals of the fixed deposit funds

 

To wrap it up

If you are seriously looking for a well-fixed deposit scheme, opt for the Indian Bank fixed deposit. You will get high-interest rates, flexible tenures and will also get all the assistance you need from the bank’s customer support team. You can open the Indian Bank fixed deposit account online at any time you wish, so go ahead and do so right away. Enjoy the many benefits and facilities and get the most out of your fixed deposit investment.

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