Narmada Jhabua Gramin Bank FD Interest Rates Bank
Fixed Deposit is a safe investment option offered by several banks. It provides a higher rate of interest than a regular saving account. Moreover, it invests to achieve the financial goals with the higher returns offered by the banks. Narmada Jhabua Gramin Bank FD offers a significant option to deposit a lump sum amount for a particular tenure. It mostly ranges from 7 days to 10 years. Moreover, the account holder can select the tenure offered y the bank with the convince and planning. The customer is allowed to deposit lump sum money into a fixed deposit.
Features of Narmada Jhabua Gramin Bank FD
- Competitive interest rates are offered with flexible FD tenures to fit your investment plan.
- FD account is often opened online or by visiting your nearest Narmada Jhabua Gramin 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
Narmada Jhabua Gramin 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%|
|Private 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 Narmada Jhabua Gramin 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 have 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 can receive the payment amount when FD gets matured.
- You can also avail of a 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 Narmada Jhabua Gramin Bank
Narmada Jhabua Gramin Bank offers loans up to 90% against its own deposit. Note that Narmada Jhabua Gramin Bank won’t offer you a loan against the FD of the other bank. Narmada Jhabua Gramin Bank offers Loan against FD at the speed of 3.5% to 6.5%
Calculation of Interest on FD of Narmada Jhabua Gramin 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
SBI revised FD rate of interest
SBI has announced a cut in retail fixed deposits of FD rates. The newest FD rates on SBI deposits are effective from 10th January 2020. The bank has cut the FD rates by 15 bps on long-term deposits maturing in 1 year to 10 years. Now FD rate of interest for 7 to 45 days is 4.50%, for 46 to 179 days is 5.50%, for 180 days to 1 year is 5.80% and for 1 year to 10 years is 6.10%.
Axis Bank reduced FD rate of interest
Axis Bank reduced interest rates by up to 20 bps from January 9. FDs for fewer than Rs 2 crore and with the tenor of but 1 year will earn 6.40%, for the tenor of 5 years to up to 10 years, FD rates are 6.50%.
✅ What is the utmost limit for Narmada Jhabua Gramin Bank fixed deposits?
There is no maximum limit for Narmada Jhabua Gramin Bank fixed deposits.
✅ Is a nomination facility available for Narmada Jhabua Gramin Bank fixed deposits?
Yes, the nomination facility is out there for Narmada Jhabua Gramin Bank fixed deposits.
✅ Is an auto-renewal facility available for Narmada Jhabua Gramin Bank fixed deposits?
Yes, the auto-renewal facility is out there for Narmada Jhabua Gramin Bank fixed deposits.
✅ Can we open a Narmada Jhabua Gramin Bank fixed deposit online?
To open a Narmada Jhabua Gramin Bank fixed deposit, you’d need to visit your nearest branch.