Nagaland Rural Bank FD Interest Rates
Nagaland Rural Bank FD provides an option to deposit payment amount for a selected period, starting from 7 days to 10 years. You can choose any of the tenures offered by Nagaland Rural Bank FD consistent with your convenience and financial objective. As soon as you decide on the tenure and deposit the quantity in Nagaland Rural Bank FD, it can start earning an interest supported the tenure of the deposit. The customer is allowed to deposit payment money into a hard and fast deposit just one occasion into his FD account at the time of opening the account with the bank and afterward he cannot deposit additional money within the same FD account.
Features of Nagaland Rural Bank FD
- Competitive FD interest rates are offered with flexible FD tenures to fit your investment plan.
- FD account is often opened online or by visiting your nearest Nagaland Rural Bank branch.
- No cap on the utmost Amount of FD
- FD Tenures: 7 days to 10 years
- Different interest payout options like monthly, quarterly, etc.
- Loan/ Overdraft against FD facility is out there upto 85% of the FD amount.
- Easy and fast liquidity options are available.
- Nomination facility.
- Tax benefit of the amount up to Rs 1,50,000, through tax saving term deposit scheme
- Part withdrawal facility and auto-renewal facilities also are available
- Senior citizens can enjoy a higher rate of interest as compared to regular citizens
- NRE, NRO and FCNR deposit facility is obtainable by the bank
Nagaland Rural Bank Fixed Deposit Rates
|Maturity Period||Interest Rate (p.a.)|
Top 10 Tax Saver FD Interest Rates
|Name of the Bank Saving FD||Interest rate offered to General Citizens (p.a.)||Interest rate offered to Senior Citizens (p.a.)|
|SBI Bank Tax Saving FD||5.30%||6.20%|
|ICICI Bank Tax Saving FD||5.35%||5.85%|
|HDFC Bank Tax Saving FD||5.30%||5.80%|
|Canara Bank Tax Saving FD||5.50%||6.00%|
|Axis Bank Tax Saving FD||5.75%||6.25%|
|Bank of Baroda Tax Saving FD||5.30%||5.80%|
|IDFC Bank Tax Saving FD||5.75%||6.25%|
|Corporation Bank Tax Saving FD||5.45%||5.95%|
|PNB Tax Saving FD||5.30%||5.80%|
|IDBI Bank Tax Saving FD||5.10%||5.60%|
Documents required to open Fixed Deposit Account in Nagaland Rural Bank
|Individual, HUF, Proprietor||
Things to Know Before Investing in Fixed Deposits
- Always compare tenure-wise FD interest rates of various banks before finalizing the bank for opening an FD account, so as to urge maximum rate of interest on selected tenure.
- The tenure for many bank fixed deposits varies from 7 days to 10 years. you ought to choose the FD Tenure consistent with your convenience and objective behind the investment.
- Opt for interest payout options like monthly or quarterly, if required. Otherwise, choose a cumulative option in order that you’ll receive the payment amount when FD gets matured.
- You can also avail of loan or overdraft against FD if you’ve got an immediate requirement of funds.
- If your annual income is non-taxable, you’ll submit Form 15G or Form 15H so as to avoid TDS.
- Don’t forget to form a nomination in your FD account.
- If you’re an oldster then open your FD during a bank that offers extra interest of 0.25% to 0.75% to senior citizens.
- When you open fixed deposits online or offline, don’t forget to offer instructions on what to try to do on the maturity of your FD. If you are doing not give any instruction, your fixed deposit is going to be renewed automatically on maturity.
Loan against Fixed Deposit Nagaland Rural Bank
Nagaland Rural Bank offers loans up to 90% against its own deposit. Note that Nagaland Rural Bank won’t offer you a loan against the FD of the other bank. Nagaland Rural Bank offers Loan against FD at the speed of 3.5% to 6.5%
Calculation of Interest on FD of Nagaland Rural Bank
Interest on FD for various tenures is calculated in the following manner:
- Simple interest is paid at maturity for fixed deposit tenure of but 6 months.
- Interest is calculated on a quarterly basis for fixed deposit tenure of 6 months & above.
- Cumulative Interest/ re-investment interest is calculated quarterly, and is added to the Principal such Interest is paid on the Interest earned within the previous quarter also.
- In the case of a monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at a discounted rate over the quality FD Rate
HDFC Bank revised FD rate of interest
The revised rate for FDs maturing in 9 months 1 day too but 1 year are going to be 6.05%. Term deposits maturing in 1 year to 2 years will fetch a rate of interest of 6.3%, 2-3 years 6.40%, and three years to 10 years 6.3%.
PNB cuts off FD rates
With effect from December 1, 2019, FDs for fewer than Rs 2 crore and therefore the tenor of 271 days to below 1 year are going to be 6% for general customers and 6.5% for senior citizens. For the tenor of 5 years to up to 10 years, PNB has FD rates of 6.3% for general customers and 6.8% for senior citizens.
✅ What happens if I open an HDFC FD account without a PAN card?
Following are the implications of opening an FD account without having a pan card:
- TDS are going to be deducted at 20% as against 10% under section 206AA
- No TDS Certificate is going to be issued and also no credit from the tax department
- Form 15G/H and other exemption certificates are going to be invalid
✅ Am i able to deposit some additional amounts in my FD account?
No, you’re not allowed to deposit any additional amount as you’re allowed to deposit the quantity only at the time of opening the account. If you would like to vary the quantity, you would like to open a replacement fixed-time deposit account with HDFC.
Table of Contents
- 1 Nagaland Rural Bank FD Interest Rates
- 2 Features of Nagaland Rural Bank FD
- 3 Nagaland Rural Bank Fixed Deposit Rates
- 4 Top 10 Tax Saver FD Interest Rates
- 5 Documents required to open Fixed Deposit Account in Nagaland Rural Bank
- 6 Things to Know Before Investing in Fixed Deposits
- 7 Loan against Fixed Deposit Nagaland Rural Bank
- 8 Calculation of Interest on FD of Nagaland Rural Bank
- 9 News
- 10 FAQs