Explore Nainital Bank’s customizable Fixed Deposit schemes with competitive interest rates. Choose from flexible tenures ranging from 7 days to 10 years, perfect for both experienced investors and first-time depositors.
Senior citizens enjoy an additional 0.50% interest rate, making Nainital Bank an even more rewarding choice for experienced savers.
Nainital Bank FD Rates (Below 2 Crores)
The table provided displays the fixed deposit rates offered by Nainital Bank for different durations for deposits up to Rs. 2 crores.
| Maturity Range | Interest Rates (%p.a.) |
|---|---|
| 7 days to 14 days | 3.25% |
| 15 days to 30 days | 3.25% |
| 31 days to 45 days | 3.25% |
| 46 days to 90 days | 4.25% |
| 91 days to 179 days | 4.25% |
| 180 days and above to < 270 days | 4.95% |
| 270 days and above to | 5.75% |
| 1 year and above to 18 months | 6.70% |
| Above 18 months to 2 years | 6.25% |
| Above 2 years to 3 years | 6.25% |
| Above 3 years to 5 years | 5.75% |
| Above 5 years to 10 years | 5.35% |
| Naini Plus 2023 Deposit Scheme (Callable) -400 days | 7.05% |
| Naini Plus 2023 Deposit Scheme Deposit (Non-Callable) – 400 days | 7.10% |
| Naini Tax Saver Scheme* | 5.75% |
*Note: Interest rates are subject to change. Please visit the official Nainital Bank website for the most recent updates.
*Callable implies that pre-mature withdrawal is available.
*Non-Callable implies pre-mature withdrawal is not available
*Premature withdrawal will not be allowed before the completion of 5 years except in case of death of the customer/depositor.
Nainital Bank Tax Saver FD
Below is the table displaying the FD interest rates for Nainital Bank Tax Saver scheme:
| Tenure | Interest Rates (% p.a.) |
|---|---|
| 5 years to 10 years | 5.75% |
* The interest rates may change. Refer to Nainital Bank’s official website for the latest information.
Discover Your Nainital Bank FD ROI!
Explore the Nainital Bank FD Calculator to easily discover the potential returns on your Fixed Deposit. This user-friendly tool instantly shows your maturity value, providing a clear breakdown of your principal amount and the exciting interest earned. Whether you’re an experienced investor or a new depositor, using an FD calculator simplifies the process, helping you unlock a rewarding ROI with just a click!
Nainital Bank FD Account Eligibility
To qualify for Nainital Bank FD schemes, individuals must meet the following criteria:
- Indian citizenship is a prerequisite for eligibility in Nainital Bank FD schemes.
- Hindu Undivided Families (HUF) members are also eligible to apply.
- Companies, trusts, and societies can avail themselves of Nainital Bank FD plans.
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Documents Required to Open Nainital Bank FD
To start their fixed deposit with Nainital Bank, investors need to provide the following documents:
- A duly filled Nainital Bank FD application form.
- Photo Identity Proof: PAN Card, Voter ID Card, Passport, Driving License, Aadhaar Card.
- Address Proof: Latest Bank Statement, Utility Bills (electricity, water, telephone), Passport, Income Tax Assessment Order, Aadhaar Card with address.
- Recent Passport-sized Photograph: Required for all applicants.
- Minimum Deposit Amount: Varies depending on the chosen FD scheme.
Features & Benefits of Nainital Bank Fixed Deposit
Investors can enjoy several advantages with Nainital Bank Fixed Deposits. Here are some notable features.
- Competitive Interest Rates: Benefit from competitive interest rates on Nainital Bank Fixed Deposits, maximizing your potential returns
- Flexible Tenure Options: Nainital Bank’s Fixed Deposits offer a broad range of durations from 7 days to 10 years, giving you flexibility in choosing the tenure that suits you.
- Easy Online Opening: Start a Fixed Deposit effortlessly by using Nainital Bank’s online banking, completing the process quickly through their user-friendly platform.
- DICGC Insurance Cover: Your investments with Nainital Bank are covered by DICGC, providing insurance protection for the entire deposit amount up to ₹5 lakhs.
- Low Minimum Investment: Begin your Fixed Deposit journey with Nainital Bank with as little as ₹1,000, or just ₹100 for tax saver FDs, making it accessible for all.
- Senior Citizen Bonus: Senior citizens enjoy an extra 0.5% interest annually on their Fixed Deposits, ensuring additional returns.
- Nomination Facility: Easily nominate beneficiaries for your Fixed Deposits with Nainital Bank, ensuring a smooth transition in unforeseen circumstances.
- Varied Deposit Schemes: Nainital Bank offers diverse fixed deposit schemes, allowing you to choose the one that suits your preferences.
Premature Closure of Nainital Bank Fixed Deposit
Withdrawal of Nainital fixed deposits before completing 5 years is not allowed unless the depositor passes away. Premature withdrawal is also prohibited in the Nani Tax Saver Scheme. If there’s premature payment of the FD, the interest rate will be 1% less than the applicable rate for the duration the deposit remains with the bank.
Types of Nainital Bank Fixed Deposits
The FD schemes offered by Nainital Bank are customized to individual depositor needs. Take a look at the domestic FD scheme that Nainital Bank has offered below.
Regular Fixed Deposits
In Nainital Bank Regular Fixed Deposits, invest with a minimum of Rs 1,000 for tenures ranging from 1 to 10 years. Enjoy quarterly interest payments, adjusted for holidays. The offering includes a nomination facility. Senior citizens receive an extra 0.50% interest, while bank staff members enjoy an additional 1%, rising to 1.50% for senior staff members.
Short Term Deposit
Explore Nainital Bank Short Term Deposit with a minimum deposit of ₹1,000 and flexible tenures from 7 days to 1 year. Receive quarterly interest payments, adjust for holidays, and utilize the nomination facility for smooth transitions. Senior citizens enjoy an extra 0.50% interest, making it an attractive short-term investment option
Re-Investment Deposit
Nainital Bank Re-Investment Deposit needs a minimum deposit of ₹1,000. Benefit from quarterly compounded interest, adjusted for holiday payments on the next working day. Senior citizens enjoy an extra 0.50% interest, making it a favorable choice for potential growth.
Naini Tax Saver Scheme
Explore the tax-saving benefits with Nainital Bank’s Naini Tax Saver Scheme, qualifying for tax deduction under Section 80C of the Income Tax Act. With flexible tenures spanning 5 to 10 years, the scheme calculates interest on a quarterly rest basis. Deposits are accepted under the RIDS/FDR scheme, complemented by a nomination facility. However, it’s important to note that no loans or credit facilities are available against the security of the deposit, ensuring the focus remains on tax-saving and long-term financial goals.
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