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The content has been translated from the English version using indigenously developed Artificial Intelligence capabilities (Bhashini, developed by MeitY). In the event of any ambiguity or doubt, users are advised to refer to the original English content for clarification.

All information, materials, advice, suggestions, illustrations, notifications, circulars, and other items on this website are collectively referred to as the "Content."

Indian Bank assumes no responsibility for any errors, omissions, inaccuracies, or typographical mistakes that may appear in the Content. Indian Bank does not provide any warranty or representation regarding the Content and expressly disclaims all liabilities.

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Indian Bank reserves the right to modify, correct or update any part of the Content at any time.

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As the translated Content has been generated using AI, we encourage suggestions for improvement.

Suggestions may be submitted at:
https://bhashini.gov.in/bhashadaan/en/home

 
हिंदी
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IND ANNUITY

IND ANNUITY

 

Beneficiaries Resident individuals Singly or jointly, including minors.
Rate of Interest As per Retail term deposit card rate /Bulk Deposit rate. Bulk Deposit account can be opened at only bulk authorized branches as per extant guideline.
Min. deposit required to open the account Minimum:  1 lakh

Maximum: No limit.
Tenure Minimum: 3 Years.

Maximum: 10 Years.

In multiples of 6 months.
TDS TDS applicable as per Income Tax Rules.
Premature withdrawal Premature closure is Permitted in case of death of depositor Or after completion of 6 months with penalty.
Monthly/ Quarterly Annuity payment Payment of Annuity on the anniversary date of the month/quarter following the month/quarter of deposit, If that date is non-existent (29th, 30th & 31st), it will be paid on the 1st day of the next month.
Penalty  for premature withdrawal Premature withdrawal in case of death or after completion of 6 months , penalty is chargeable as applicable to Term Deposit.
Nomination facility As per Bank policy
Other Conditions Closure is allowed only at the home branch.

Withdrawal proceeds will be credited only to the account from where original principal amount has been withdrawn for creating the Term Deposit Receipt.

All other terms and conditions of existing term deposit products is applicable for this product.

Lump sum deposit accepted and Equated Annuity is paid at chosen intervals.

Annuity amount include principal + interest portion.

 

( Last modified on May 01, 2026 at 07:05:05 PM )

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