• Nainital Bank Fixed Deposit Rates 2021

    Nainital Bank offers fixed deposit accounts of different types which caters to needs of the investors. With varied tenure options and attractive interest rates, investing in a Nainital Bank fixed deposit account is advisable. Nainital Bank offers Fixed Deposits (FDs) at interest rates ranging between 3.35% and 5.35% and a tenure ranging between 7 days and 10 years. Senior citizens are offered an additional interest rate of 0.50% for deposits less than Rs.1 crore.

    Types of Nainital Bank FDs

    The two different types of FDs offered by Nainital Bank are mentioned below:

    • Regular Fixed Deposit
    • Naini Tax Saver Scheme

    Nainital Bank Fixed Deposit Features

    Regular Fixed Deposit

    The main features of the Regular FD scheme offered by the bank are mentioned below:

    • The interest is accrued/paid on a quarterly basis.
    • You can renew the deposit.
    • Nominations can be added.
    • The minimum amount that must be deposited is Rs.1,000.
    • Tax Deducted at Source (TDS) is applicable on the interest that is generated.
    • Senior citizens are offered an additional interest rate of 0.50%.
    • Single and joint accounts can be opened.

    Naini Tax Saver Fixed Deposit

    The main features of the Naini Tax Saver Fixed Deposit scheme offered by the bank are mentioned below:

    • The minimum and maximum tenures are 5 years and 10 years, respectively.
    • The minimum amount that must be deposited is Rs.100.
    • The maximum tax benefit that can be availed in a year is Rs.1 lakh.
    • The interest is computed every quarter.
    • Premature withdrawal is not allowed before 5 years. However, in case the depositor passes away, premature withdrawal is allowed.
    • Nominees can be added.
    • Loans cannot be availed against the account.
    • Corporates, institutions, clubs, societies, trusts, companies, and firms cannot invest in the scheme.

    Nainital Bank FD Eligibility

    Regular Fixed Deposit Scheme

    • Resident individuals
    • Illiterate persons
    • Blind persons
    • Purdanasheen ladies
    • Minor associations
    • Clubs
    • Societies
    • Trusts
    • Institutions/Agencies

    Naini Tax Saver Fixed Deposit

    • Individuals
    • Hindu Undivided Families (HUFs)

    Nainital Bank FD Interest Rates

    The interest rates offered by Nainital Bank for deposits below Rs.2 crore are mentioned in the table below:

    Tenure Interest Rate for General Public Interest Rate for Senior Citizens
    7 days – 14 days 3.35% 3.85%
    15 days – 30 days 3.35% 3.85%
    31 days – 45 days 3.35% 3.85%
    46 days – 90 days 4.35% 4.85%
    91 days – 179 days 4.35% 4.85%
    180 days and above – less than 270 days 5.05% 5.05%
    270 days and above – less than 1 year 5.15% 5.65%
    1 year and above – 18 months 5.25% 5.75%
    Above 18 months – 2 years 5.35% 5.85%
    Above 2 years – 3 years 5.35% 5.85%
    Above 3 years – 5 years 5.35% 5.85%
    Above 5 years – Up to 10 years 5.35% 5.85%
    Naini Tax Saver Scheme 6.35% -

    *The Nainital Bank FD rates tend to change at the discretion of the bank. The rates given here are valid as of 13th October 2020.

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    NAINITAL BANK FD Rates Reviews

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