Fixed Deposit Indore
Last Updated : Jan. 23, 2017, 3:24 p.m.
About Indore
The largest and most populous city of Madhya Pradesh, Indore is considered the education centre of the state. Both IIT and IIM campuses are present here. The city is also described as the commercial capital of the state by the Economic Times. It is a commercial centre for goods and services. Numerous large, medium and small enterprises are present here. It is counted amongst the two tiers cities of India. It is a host city of Global Investor’s Summit attracting investors from different countries. The renowned IT companies are setting up the base in the city and enhancing the job opportunities for the people.
About Fixed Deposit
The easiest way to enhance your savings without bearing any risk is to invest in the fixed deposit . It is a form of investment where the amount is locked-in for a certain period of time and refunded along with the interest at the time of maturity. The maturation period is decided by the depositor. It could be as shorter as 7 days or lasts up to 10 years. There is no restriction on the maximum amount of deposit, so the depositor can book the deposit with any amount equal to or greater than the minimum investment amount.
Fixed Deposit Indore in a nutshell
| Particulars | Details |
|---|---|
| Interest Rate | 3.00% - 9.25% |
| Minimum Investment Amount | ₹ 1,000 |
| Tenure | 7 days – 10 years |
Fixed Deposit Eligibility Criteria
Following are the entities which are eligible for availing fixed deposit schemes:
Individuals
Hindu Undivided Families (HUFs)
Minor represented by parents/guardian
Associations
Clubs
Trusts
Sole proprietorship firms
Partnership firms
Limited Companies
Documents Required For The Fixed Deposit
| Category | Documents |
|---|---|
| An Individual, Hindu Undivided Family, Sole Proprietorship Concern | ID Proof – Passport, PAN Card, Driving Licence, Voter ID, Government ID Card, Senior Citizen ID Card Address Proof - Telephone Bill, Electricity Bill, ID Card Issued by Post Office, Bank Statement with Cheque, A photograph |
| Trusts | Copy of the Trust Deed Copy of the registration certificate Copy of the Resolution of the Trustees authorizing the members concerned to open and operate the account Photographs of the members operating the account |
| Associations/Clubs | By-laws of the Association Copy of the Resolution by the board authorizing the members concerned to open and operate the account Photographs of the members operating the account |
| Partnership Firm | Partnership Deed Letter from partners approving the persons concerned to open and operate the account Photographs of the persons operating the account |
| Public or Private Limited Companies | Board Resolution / Authority Letter Memorandum & Articles of Association Certificate of Incorporation Certificate of Commencement of Business (Public Limited Company) Form 32 in case list of directors are not original subscribers to Memorandum & Articles of Association (in case of Private Limited Cos) Duly acknowledged by ROC Governing Act / Rules and Regulations(PSUs) (certified true copy) |
Top Banks Fixed Deposit Interest Rate and Address
| Banks Name | Main Branch Address | FD Interest Rates |
|---|---|---|
| State Bank Of India | Commercial Branch, Near GPO, A.B.Road, Indore-452001 | 2.90% - 6.20% |
| HDFC Bank | UG 1 & 2, Trade House, 14 / 3 South Tukoganj, Indore - 452001, Madhya Pradesh | 2.50% - 6.25% |
| ICICI Bank | Laxmi Towers, 576, M.G.Road, Indore- 452001 | 2.50% - 6.30% |
| Axis Bank | Kamal Palace, 1 Yeshwant Colony Niwas Road, Indore-452003 | 2.50% - 6.50% |
| Punjab National Bank | Bilala Mill Road, Ashok Nagar, District Guna, Madhya Pradesh-47333 | 2.90% - 5.75% |
| Bank of India | Indore Main, Pungalia Bhawan, Santa Bazar, Indore, Madhya Pradesh- 452002 | 2.85% - 5.55% |
| Bank of Baroda | Annapurna Road, Indore, Madhya Pradesh-452012 | 2.90% - 6.30% |
| Central Bank Of India | Cloth Market, Indore P.B. No. 25, Sitlamata Bazar Street, Indore | 2.75% - 5.50% |
| Bank of Maharashtra | Fadnis Complex, 88 - M. G. Road, Indore-452007 | 2.75% - 6.40% |
| IDBI Bank | Alankar Chambers, ratlam Kothi, A.B. Road, Indore | 2.90% - 5.90% |