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  • Fixed Deposit BYTES FROM OUR KITCHEN

    Overview of Corporation Bank Fixed Deposit

    Corporation Bank was founded in the year 1906 under the name of Canara Banking Corporation, with a starting capital of just ₹ 5000, in the town of Udupi. Since then the bank has progressed by leaps and bounds and is one of the major players in empowering the rural as well as urban population of India. For years, the bank has been helping in nation building and growth of the Indian economy.

    Corporation Bank became the second public sector bank of India to enter the capital market; its IPO was oversubscribed by 13 times. The bank is 100% core-banking compliant and is a forerunner in technological advances with respect to enhancements in the financial domain.

    The primary aim of Corporation Bank is not just cultivating the thrift habit among masses but also to foster cooperation among all sections of the society.

    Types of Term Deposits offered by Corporation Bank

    • 444 Deposits
    • 555 Deposits
    • 666 Deposits
    • Kshemanidhi Cash Certificate Scheme to KCC
    • Fixed Deposit (FD) scheme
    • Money Flex Deposit scheme
    • Corp Tax Saver Plus Deposit scheme

    Features of Corporation Bank 444 Deposits, 555 Deposits and 666 Deposits

    • Interest rate:
      • 444 Deposit scheme: 6.70% p.a.
      • 555 Deposit scheme: 6.75% p.a.
      • 666 Deposit scheme: 6.80% p.a.
    • Maturity period:
      • 444 Deposit scheme: 444 days
      • 555 Deposit scheme: 555 days
      • 666 Deposit scheme: 666 days
    • The schemes with the facility of auto to renewal.
    • Premature withdrawals allowed at a penalty of 1%.
    • Senior Citizens would receive an interest rate which is 0.50% more than the regular deposit interest rates.

    Features of Corporation Bank Kshemanidhi Cash Certificate scheme (KCC)

    • Interest is compounded every quarter.
    • This is a reinvestment scheme
    • Tenure range: 6 months to 10 years
    • No upper limit on deposit amount
    • Lower limit of deposit amount:
      • Rural/Semi to urban branches: Rs.500
      • Urban/Metro branches: Rs.1,000
    • Range of interest rates: 6.00% p.a. to 6.65% p.a.
    • Additional interest rates available for senior citizens
    • Interest payout: On the date of maturity
    • Interest credited to account: Half to yearly
    • Special features:
      • Nomination facility
      • Loans against the deposit up to 90% of the deposit value (75% for a third party)
      • Premature closure of deposit is allowed

    Features of Corporation Bank Fixed Deposit scheme

    • Interest payout: Yearly/Half to yearly/Quarterly/Monthly
    • Maturities available: 7 days to 10 years
    • Minimum investment amount:
      • Rural/Semi to urban branches: Rs.500
      • Urban/Metro branches: Rs.1,000
    • Range of FD rates: 4.50% p.a. to 6.65% p.a.
    • Highest interest rate: 6.65% p.a. (1 year)
    • Premature closures are permitted
    • Senior citizens are qualified to receive an additional interest rate of 0.50% over the standard rates.
    • Special interest rates for senior citizens are only applicable for deposits under Rs.1 crore and for tenures above 90 days.
    • FD accounts which are held by the bank for less than 7 days are not eligible for any interest income.
    • 1% penal interest will be charged for premature encashment
    • In case of deposits of Rs.50 crore, you are expected to notify the bank a month before prematurely closing the account.
    • As per the mandate of Income Tax Act, 1961, Tax Deducted at Source (TDS) will be applied to the interest income.
    • Nomination facility can be availed

    Money Flex Deposit scheme

    • Partial premature withdrawals allowed in multiples of Rs.1,000
    • Maturity period: 7 days to 10 years
    • Minimum amount of deposit: Rs.5,000
    • Available in two variants viz. KCC and Fixed Deposit
    • Interest payment:
      • KCC: Upon maturity
      • FD: Quarterly rests
    • Loan facility and nomination facility are available

    Features of Tax Saver Plus FD scheme

    • Maturity period: 5 years
    • Deposit range: Rs.100 to Rs.1.50 lakh
    • FD interest rate: 6.50% p.a.
    • 50% higher interest rates offered to Senior Citizens
    • Premature withdrawals are not permitted
    • You cannot open a Tax Saver Plus account without submitting your PAN Card.
    • Tax benefits to the depositor as per Section 80C of the Income Tax Act, 1961.
    • Personal Accident Insurance Cover worth Rs.1 lakh offered to every account-holder for 12 months.

    Corp Bank Fixed Deposit rates: Under Rs.1 crore

    Tenure bracket Regular FD rates (per annum) Senior Citizens FD rates (per annum)

    7 days to 14 days

    4.50%

    5.00%

    Above 14 days to 45 days

    4.50%

    5.00%

    Above 45 days to 2 months

    5.50%

    6.00%

    Above 2 months to 3 months

    5.50%

    6.00%

    Above 3 months to 4 months

    6.00%

    6.50%

    Above 4 months to 6 months

    6.00%

    6.50%

    Above 6 months to 9 months

    6.35%

    6.85%

    Above 9 months to 12 months

    6.35%

    6.85%

    12 months

    6.65%

    7.15%

    Above 12 months to 444 days

    6.55%

    7.10%

    444 days

    6.70%

    7.20%

    Above 444 days to 555 days

    6.55%

    7.15%

    555 days

    6.75%

    7.25%

    Above 555 days to 666 days

    6.55%

    7.15%

    666 days

    6.80%

    7.30%

    Above 666 days to 36 months

    6.50%

    7.00%

    36 months and above

    6.50%

    7.00%

    *The Corporation Bank FD rates are subject to change as per the discretion of the bank. The interest rates given in the table are valid as of 31 December 2018.

    Eligibility criteria to apply for a Corporation Bank Term Deposit scheme

    • Residents of India
    • Members of the Hindu Undivided Family
    • Minors under the guardianship of a natural/legal parent
    • Educational institutes
    • Trust Accounts
    • Partnership firms
    • Government units

    Documents required to apply for a Corporation Bank Fixed Deposit scheme

    • ID proof and address proof
    • Permanent Account Number (PAN) Card
    • Age proof
    • Income proof
    • 2 recent passport to size photos
    • Filled to out application form

    FAQs on Corporation Bank FD scheme

    1. What is the highest Fixed Deposit rate offered by Corporation Bank?
    2. The highest Corporation Bank FD rate is 6.65% p.a. for a tenure of 1 year.

    3. What is the maturity period for Corp Tax Saver Plus Term Deposit?
    4. The tenure for Corp Tax Saver Plus Term Deposit scheme is 5 years.

    5. What are the FD rates for 444 Deposit scheme, 555 Deposit scheme and 666 Deposit scheme?
    6. The interest rate for the 444 Deposit scheme is 6.70% p.a., 555 Deposit scheme is 6.75% p.a. and 666 Deposit scheme is 6.80% p.a.

    7. At what frequency will I receive the interest for the FD scheme?
    8. You can choose to receive the interest income on monthly, quarterly, half to yearly or yearly intervals.

    9. Do senior citizens get a different FD rate on Corporation Bank Term Deposit schemes?
    10. Yes, senior citizens get a 0.50% increment in the rates for deposits under Rs.1 crore and a maturity period above 3 months.

    11. What is minimum amount that I must invest to open an FD account?
    12. The minimum amount to be invested is Rs.500 for rural/semi to urban branches and Rs.1,000 for urban/metro branches.

    13. Does the Corp Tax Saver Plus Deposit scheme have an option of premature withdrawal?
    14. No, you cannot prematurely break the Corp Tax Saver FD before completing a 5 to year tenure.

    15. Can I apply for the Corp Tax Saver Plus FD scheme without a PAN Card?
    16. No, it is mandatory to possess a PAN Card to open the Corp Tax Saver Plus Deposit.

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    Corporation Bank Fixed Deposit Reviews

    • Corporation Bank Fixed Deposit
      "Average"
      0.5 4.0/5 "Great!"
      I had account with Corporation Bank and its very old one. I put fixed deposit before 3 to 4 years. The interest rate was around 7% which was minimum compared to others but am satisfied. I have deposited for 5 years. Actually have not taken any benefits, just have invested. The customer service was okay.
      Was this review helpful? 4
      , pune
      Reviewed on Jan 04, 2019
    • Corporation Bank
      Corporation Bank Fixed Deposit
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a fixed deposit with the CORPORATION bank. The deposit is 50000 an they offers 9% annum. I've deposited for the five years. It was easy to start the deposit but I am not happy with their services as they don't provide any additional benefits to their customers.
      Was this review helpful? 6
      , bangalore
      Reviewed on Jun 18, 2018
    • Corporation Bank Fixed Deposit
      "average service"
      0.5 3.0/5 "Satisfactory"
      Service is very good ,response of their representatives was very good and responsible. They have some problem with their online application during the payments and other transactions are very slow with their application ,still overall service is good from CORPORATION bank.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 30, 2017
    • Corporation Bank Fixed Deposit
      "Excellent"
      0.5 3.5/5 "Pretty good"
      I had the fixed deposit account with the Corporation bank and the interest rate was around 11%. Customer service was good and they are having the online application to track my account. Responsiveness is good with the corporation bank.
      Was this review helpful? 12
      , mysore
      Reviewed on Feb 01, 2016
    • Corporation Bank Fixed Deposit
      "pretty good offer"
      0.5 4.0/5 "Great!"
      Interest rate offered for fixed deposit is 9% from corporation bank i have taken for three years tenure. They have the activation charges which is minimum. Depends upon the tenure they fix the amount but the minimum amount is Rs.10,000 appropriately. It is pretty good offer.
      Was this review helpful? 10
      , bangalore
      Reviewed on Nov 02, 2015
    • Corporation Bank Fixed Deposit
      "Feedback"
      0.5 4.0/5 "Great!"
      Corportion bank FD was good. I have been holding this FD for more than 8 years it was basically a long term plan . Interest rate offered by them was good and there was no processing fee here. As my mom is working there she advised me to invest here.
      Was this review helpful? 4
      , bangalore
      Reviewed on Oct 31, 2015
    • Corporation Bank Fixed Deposit
      "No great feature as similar to other banks..."
      0.5 4.0/5 "Great!"
      Benefits of Fixed Deposit are quite similar to other bank. Interest rate differs depending on tenure period that customer select. The interest rate normally ranges between 7 to 9%. Partial amount cannot be dropped in midst of the tenure but we can pre close that where Corporation bank provides interest for that particular period.
      Was this review helpful? 2
      , new delhi
      Reviewed on Sep 26, 2015
    • Corporation Bank Fixed Deposit
      "Good "
      0.5 3.0/5 "Satisfactory"
      I am having the fixed deposit account with the Corporation Bank. The minimum lock in period is around 3 years and the rate of interest is around 8% per annum. Services are good with them. They are not responsiveness towards the customers. I would like to suggest they should improve the response towards the customers.
      Was this review helpful? 5
      , bangalore
      Reviewed on Sep 10, 2015
    • Corporation Bank Fixed Deposit
      "Good services"
      0.5 4.0/5 "Great!"
      I also have a fixed deposit with Corporation bank. The services are good from them. I have not faced any issues yet. I am happy with the rate of interest given by the bank. They offer a interest rate of 8%. It has only been a year with them for this fixed deposit. They do no charge for this account. Not sure if there would be a penalty fee if I closed my account before the maturity period.
      Was this review helpful? 1
      , vijayawada
      Reviewed on Sep 08, 2015
    • Corporation Bank Fixed Deposit
      "Satisfactory"
      0.5 4.0/5 "Great!"
      Initially I had a salary account in Corporation bank. Later I opted for a fixed deposit around 3 years back. The rate of interest was 9.2% approx. I would say that the services are better. Being a government bank they provide good services. The lockin period is 7 years. There are no preclosure charges.
      Was this review helpful? 5
      , ghaziabad
      Reviewed on Jan 18, 2015
    • Corporation Bank Fixed Deposit
      "Simple and Good Bank"
      0.5 4.5/5 "Excellent!"
      Processes are Simple for users and you can do lot of stuff online. Good Bank to bank upon. Nice fixed deposit interest rates. Have Branches at most of the places so its easy to reach them. Very friendly staff and helpful. Loan approvals are not that easy.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jan 16, 2015
    • Corporation Bank Fixed Deposit
      "Its good"
      0.5 5.0/5 "Blown Away!"
      Corporation bank has offered very good interest rate for Fixed deposit and there are no hidden charges. Basis my entire experience, really satisfied and appreciable customer service. Response is wonderful and getting proper follow up in terms of deposit.
      Was this review helpful? 3
      , pune
      Reviewed on Dec 18, 2014
    • Corporation Bank Fixed Deposit
      "Good"
      0.5 3.5/5 "Pretty good"
      I did open fixed deposit in Corporation bank and it was good initially however it needs lots of improvement as the front office executives is not quite professional. The maturity amount is quite beneficial and it would be better if they could respond to all queries.
      Was this review helpful? 3
      , bangalore
      Reviewed on Dec 12, 2014
    • Corporation Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      The rate of interest is around 9% to 10%, which I feel to be high on Fixed deposit. Corporation bank is good in customer service and responsiveness is also good. Overall, I am glad about corporation bank as an existing customer for more than five years.
      Was this review helpful? 6
      , delhi
      Reviewed on Oct 30, 2014
    • Corporation Bank Fixed Deposit
      "Excellent"
      0.5 4.0/5 "Great!"
      I am really satisfied with the payment option because payment option is flexible for me and I can do payment from 5,000 to 50,000 in the month. Recently I have availed Fixed deposit with Corporation bank and online features are good. The rate of interest on my Fixed deposit is 9% but according to me the rate offered to me is low while comparing to other banks. As corporation bank being a nationalized bank they could increase the rate of interest.
      Was this review helpful? 3
      , bangalore
      Reviewed on Oct 17, 2014
    • Corporation Bank Fixed Deposit
      "Very good interest rate"
      0.5 5.0/5 "Blown Away!"
      I got a very good interest rate from Corporation bank, so opted for this fixed deposit. They do provide 13% interest rate which is impressive one. I get customer friendly services from them. I do cash deposits by visiting the branch where it gets done within few hours.
      Was this review helpful? 10
      , bangalore
      Reviewed on Sep 16, 2014
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