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  • IB Swarna Nidhi RD/IB Swarna Nidhi VRD

     4.0 / 5.0   by 10 users
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    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    IB Swarna Nidhi RD/IB Swarna Nidhi VRD is offered as a recurring deposit scheme for customers with an option to purchase a gold coin from Indian Bank after the maturity date. This recurring deposit from Indian Bank offers complete flexibility with regards to deposit amounts and deposit tenures.

    Features of IB Swarna Nidhi RD/IB Swarna Nidhi VRD

    Interest Rates

    The interest rates on an IB Swarna Nidhi RD/IB Swarna Nidhi VRD account is applied on a quarterly basis. For deposit amounts below Rs. 1 crore, the interest rate offered by Indian Bank ranges from 5.00% to up to 7.25%. For deposit amounts varying from Rs. 1 crore to up to Rs. 5 crores, the interest rate offered by Indian Bank ranges from 5.00% to up to 7.00%.

    For Deposits up to Rs.1 Crore

    Tenure

    Interest Rate

    6 months to 9 months

    7.00 % p.a.

    9 months to below 1 year

    7.25 % p.a.

    1 year to 2 years

    7.25 % p.a.

    2 years to 3 years

    7.25 % p.a.

    3 years and above

    7.00 % p.a.

    For Deposits between Rs.1 Crore and Rs. 5 crores

    Tenure

    Interest Rate

    6 months to 9 months

    6.75 % p.a.

    9 months to below 1 year

    6.75 % p.a.

    1 year to 2 years

    6.75 % p.a.

    2 years to 3 years

    6.75 % p.a.

    3 years and above

    6.50 % p.a.

    Deposit Amount

    Customers can open recurring deposit accounts with a minimum amount of Rs. 500 and can be increased in multiples of Rs. 100. For the IB Swarna Nidhi VRD scheme the maximum deposit amount can be Rs. 10 lakhs per month.

    Deposit Tenure

    Customers can open recurring deposit accounts with a minimum tenure of 6 months and up to a maximum tenure of 12 months.

    Other Features

    Account holders can get discounts on the purchase of gold coins at the rate of Rs. 25 per gram. If the customer’s account has a maturity value of Rs. 12,000 or above, then Indian Bank will provide complimentary personal accident insurance for a value of Rs. 1 lakh under the IB Chatra policy.

    Read More Article on Recurring Deposit

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    Customer Reviews

  • Page 1 of 1
    • Indian Bank Recurring Deposit
      "Average "
      INDIAN BANK
      0.5 3.0/5 "Satisfactory"
      With the Indian bank , I do have the recurring deposit and the account got opened on immediate basis. Premature withdraw charges are applicable with them for the deposit. Online banking services are good one with the Indian bank.
      Was this review helpful? 3
      , chennai
      Reviewed on Jun 22, 2017
    • Indian Bank Recurring Deposit
      "INDIAN bank RD"
      INDIAN BANK
      0.5 5.0/5 "Blown Away!"
      INDIAN bank has got the lowest processing fee for any product. since I am staff of that particular bank I get a privileged interest rate 1% on top of the normal one. As I told with the help of mobile app I can do the deposits online too and there is no need for me to visit the branch for any deposits, it can be opened online and can be closed online too.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 17, 2017
    • Indian Bank Recurring Deposit
      "Its okay"
      INDIAN BANK
      0.5 5.0/5 "Blown Away!"
      Presently, I had invested with INDIAN Bank RD as their scheme is the best and interesting. I like their services very much, the amount will get credit ted to my account immediately soon as the amount gets matured it would be transferred to my account instantly. Interest rate what they had offered was very good and this RD was opened at the Branch.
      Was this review helpful? 4
      , pune
      Reviewed on Nov 03, 2016
    • Indian Bank Recurring Deposit
      "Just okay"
      INDIAN BANK
      0.5 2.0/5 "Expected more"
      I have the recurring deposit account with the Indian Bank and the interest rate was around 9% per annum. Customer service is not up to the mark because they are nationalized bank. Net banking facilities are good with them and their turn around to time to resolve any issues will take three days of time.
      Was this review helpful? 3
      , chennai
      Reviewed on Feb 09, 2016
    • Indian Bank Recurring Deposit
      "Nice service "
      INDIAN BANK
      0.5 5.0/5 "Blown Away!"
      I do maintain the recurring deposit with Indian Bank and the service provided was really good.They also provide nice service to the customer.They apply interest rate around 8.9% for the account.I have been using the account for 2years depositing for recurring.
      Was this review helpful? 2
      , bangalore
      Reviewed on Oct 09, 2015
    • Indian Bank Recurring Deposit
      "Average"
      INDIAN BANK
      0.5 3.0/5 "Satisfactory"
      I had the recurring deposit with the Indian Bank. I opened this account through online and I opened this with small capital and I withdrawn it within 3 months of time and I got some interest rate. They have not penalized anything for that before withdrawn the minimum locking of 2 years.
      Was this review helpful? 2
      , chennai
      Reviewed on Sep 12, 2015
    • Indian Bank Recurring Deposit
      "Good"
      INDIAN BANK
      0.5 5.0/5 "Blown Away!"
      I have recurring deposit with Indian Bank. They have offered me a good rate of interest. They have a quick process when the tenure is complete. The funds are transferred immediately. There is not much of a process. It is quick.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 09, 2015
    • Indian Bank Recurring Deposit
      "Good"
      INDIAN BANK
      0.5 4.0/5 "Great!"
      I have a recurring deposit with Indian Bank. The services has been good with this account. I been banking with them for the last 5 years for this account and when ever I close this account the money gets transferred immediately.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jul 04, 2015
    • Indian Bank Recurring Deposit
      "Good"
      INDIAN BANK
      0.5 3.0/5 "Satisfactory"
      Rate of interest is normal like other bank for Recurring deposit where providing 8.5% to 9% depending on tenure. I am expecting Indian bank to increase the rate of interest for RD if so I will be very glad. Service and response is good. On whole satisfied with Indian bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 20, 2014
    • Indian Bank Recurring Deposit
      "Its a flexible one"
      INDIAN BANK
      0.5 5.0/5 "Blown Away!"
      It is called as a flexible RD and I am holding a Indian Bank Recurring deposit any time if I want I can deposit and how many ever times I want there is no restriction the maximum limit is 10 lakhs and minimum is Rs 50 and I am happy with the rate of interest and overall its good.
      Was this review helpful? 2
      , kolkata
      Reviewed on Jun 21, 2014
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