Nainital Bank Fixed Deposit Schemes

Nainital Bank offers competitive interest rates on the deposit amount with maturity period ranging from 7 days to up to 10 years. Also, the deposits can be renewed. Tax is deducted at source from interest on fixed deposits as applicable as per the Income Tax Act, 1961. The bank offers nomination facilities to its customers. Customers can go through the lastest Nainital Bank fd Interest rates for various tentures.

Types of Nainital Bank Fixed Deposits

• Regular Fixed Deposit
• Short Term Plan
• Re-Investment Deposit
• Naini Super Fixed Account
• Naini Swarn Pushp Plan

Features of the Nainital Bank Regular Fixed Deposit

• This scheme offers simple investment deposits and the account can be opened with a minimum amount of Rs.1,000.
• The tenure should be a minimum of 12 months
• The interest will be paid on a quarterly basis
• In case the date for paying interest falls on a holiday, then, you will get the interest on the next working day
• You can renew the deposit
• Repayment of term deposits before maturity is allowed. The interest will be paid at the rate applicable on the date of deposit.
• Nomination facility is available
• Tax is deducted at source, from the interest on Fixed Deposits will be applicable, as per the Income Tax Act, 1961
• If you are a senior citizen, you will get an additional interest of 0.50 % for deposits placed less than Rs.1 crore.

Features of the Nainital Bank Short-Term Fixed Deposit

• You can open the account with a minimum investment of Rs.1,000.
• The tenure for the short-term deposit has to be between 7 days and 12 months
• The interest will be paid on a quarterly basis
• In case the date for paying interest falls on a holiday, then, you will get the interest on the next working day
• You can renew the deposit
• Repayment of term deposits before maturity is allowed. The interest will be paid at the rate applicable on the date of deposit.
• Nomination facility is available
• Tax is deducted at source, from the interest on Fixed Deposits will be applicable, as per the Income Tax Act, 1961
• If you are a senior citizen, you will get an additional interest of 0.50 % for deposits placed less than Rs.1 crore.

Features of the Nainital Bank Re-investment Deposit

• This account can be opened with a minimum investment of Rs.1,000.
• The interest will be paid on a quarterly basis
• In case the date for paying interest falls on a holiday, then, you will get the interest on the next working day
• You can renew the deposit
• Repayment of term deposits before maturity is allowed. The interest will be paid at the rate applicable on the date of deposit.
• Nomination facility is available
• Tax is deducted at source, from the interest on Fixed Deposits will be applicable, as per the Income Tax Act, 1961
• If you are a senior citizen, you will get an additional interest of 0.50 % for deposits placed less than Rs.1 crore.

Features of the Nainital Bank Naini Super Fixed Account

• The Naini Super Fixed scheme is available for 31 Days.
• You can open the account linked with the existing saving or current account.
• This scheme offers a way for you to earn more interest on the saving/current account balance
• The sweep in unit will be for 31 days.
• The sweep in unit value can be Rs.10 lakh
• In unit, liquidation process will be Last In First Out
• Tax is deducted at source, from the interest on Naini Super Fixed, will be applicable as per the Income Tax Act, 1961.
• Nomination facility is available

Features of the Nainital Bank Naini Swarn Pushp Plan

• The bank offers a scheme called Naini Swarn Pushp Jama Yojna (NSPJY) and this provides bulk investment deposits in to the small unit of Rs.1,000 each.
• This can be opened with a minimum investment of Rs.1,000 and multiple of the same.
• The tenure for the deposit must be a minimum of 15 days.
• The interest will be paid on a quarterly basis
• In case the date for paying interest falls on a holiday, then, you will get the interest on the next working day
• Repayment of term deposits before maturity is allowed. The interest will be paid at the rate applicable on the date of deposit.
• Nomination facility is available
• Tax is deducted at source, from the interest on Fixed Deposits will be applicable, as per the Income Tax Act, 1961

Eligibility of Nainital Bank Fixed Deposit Schemes

• Any resident individual - single accounts, two or more individuals in joint accounts
• Illiterate persons
• Blind persons
• Purdanasheen ladies
• Minors,
• Associations
• Clubs
• Societies
• Trusts, Institutions
• Agencies permitted by the RBI to open a ‘Naini Swarn Push Jama Yojana Account’ in single/joint names

FAQs on Nainital Bank Fixed Deposit Schemes

1. What is the minimum tenure for a regular fixed deposit with Nainital Bank?

   The tenure should be a minimum of 12 months.

2. Are Purdanasheen ladies eligible for fixed deposits by Nainital Bank?

   Yes, Purdanasheen ladies can open a fixed deposit with Nainital Bank.

3. Is nomination facility available for fixed deposits by Nainital Bank?

   Yes, the facility of nomination is available.