Fixed Deposit Indore

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% - 8.10%

Minimum Investment Amount₹ 1,000
Tenure7 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 CompaniesBoard 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 NameMain Branch AddressRate of Interest
State Bank Of India
Commercial Branch, Near GPO, A.B.Road, Indore-452001
5.75% - 7.35%
HDFC Bank
UG 1 & 2, Trade House, 14 / 3 South Tukoganj, Indore - 452001, Madhya Pradesh3.50% - 7.75%
ICICI Bank
Laxmi Towers, 576, M.G.Road, Indore- 4520014.00% - 7.55%
Axis BankKamal Palace, 1 Yeshwant Colony Niwas Road, Indore-4520033.50% - 7.95%
Punjab National Bank
Bilala Mill Road, Ashok Nagar, District Guna, Madhya Pradesh-473335.70% - 7.41%
Bank of India

Indore Main, Pungalia Bhawan, Santa Bazar, Indore, Madhya Pradesh- 4520024.80% - 6.50%
Bank of Baroda
Annapurna Road, Indore, Madhya Pradesh-4520124.00% - 6.85%
Central Bank Of India
Cloth Market, Indore P.B. No. 25, Sitlamata Bazar Street, Indore

4.00% - 6.50%

Bank of MaharashtraFadnis Complex, 88 - M. G. Road, Indore-4520073.50% - 6.60%
IDBI BankAlankar Chambers, ratlam Kothi, A.B. Road, Indore5.75% - 7.25%

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