..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
..............................................................
Indian Bank
Indian Bank, established in 1907, is a major Indian commercial bank headquartered in Chennai (Madras), India. It has 22,000 employees and 1,543 branches and is one of the big public sector banks of India. The Government of India nationalized the bank, along with 13 other major commercial banks, on 19 July 1969.
Products offered:
Fixed Deposits
Fixed Deposits are accepted for a minimum amount of Rs.100/- with minimum period of 7* days and a maximum period of 120 months. No ceiling for maximum amount of deposit
Indstar Deposit
Fixed Deposits placed for short term periods i.e. 7* days to 180 days will be renewed automatically, on the due date, on the basis of the request from the depositor for the same tenor as that of the original deposit for a maximum of 6 times. The customer need not present the deposit receipt every time for renewal. The customer has the option to withdraw the periodical interest or to renew along with the principal.
Unit Deposit
This scheme offers higher returns and liquidity too. Unit Deposits are Fixed Deposits - with a difference : part withdrawals are allowed. Unit Deposits are accepted in units of Rs.1,000 for periods of one year and above upto a maximum of 120 months. Part withdrawals are allowed in multiples of Rs. 1,000 in these accounts without foreclosing the entire deposit.
Facility Deposit
Indian Bank's "user friendly" Facility deposit combines the advantage of Fixed deposit with the flexibility of an Overdraft against the Deposit. A fixed deposit or re-investment deposit, with a minimum of Rs.1000/- or more, in multiples of Rs. 1,000 is to be made for a minimum period of 1 year and a maximum period of 3 years.
Reinvestment Plan Deposit
Reinvestment Plan Deposits (RIP) are accepted for a minimum amount of Rs.100/- and in multiples of Rs.100/- for minimum period of 6 months and a maximum period of 120 months. No ceiling for maximum amount of deposit. Savings grow faster under RIP as the interest is compounded quarterly.
Cash Certificates
Indian Bank's Cash Certificate is another pleasant proposition similar to RIP. Interest earned will be reinvested at quarterly rests to yield compunded interest. The maturity amounts are in lumpsum in multiples of Rs.100. Cash Certificates are accepted for a minimum period of 6 months and a maximum period of 120 months.
Recurring Deposit
Recurring Deposit is a scheme drawn specially to suit the needs of the individuals, particularly the salaried class, small traders etc., to plan their savings to meet specific demands. Recurring Deposit account can be opened with a monthly instalment of mere Rs. 5 or in multiples thereof, for a period of 6 months and in multiples of 3 months upto a maximum of 120 months. The depositor will get the instalment amount along with the interest on the due date.
Variable Recurring Deposit
Variable Recurring Deposit is a Recurring Deposit scheme, where the customer is having an option to vary his monthly instalments according to his convenience. Minimum period of deposit is 12 months and maximum period is 120 months. The amount of initial deposit can be minimum of Rs.25/- or multiple thereof upto a maximum of Rs.1 lakh. The deposit account is opened with a specific amount called "core deposit" and the customer can remit the monthly instalment upto Rs. 10 lakhs.
Special Recurring Deposit
Under the Special Recurring Deposit scheme, deposits are accepted from institutions, societies, Government undertakings, Corporate investors to meet their specific needs like creation of sinking fund, amortisation fund etc.. Period of deposit is 5 years and maximum period 20 years. There is no bar for opening account by individuals. Deposits may be made monthly, quarterly, half-yearly and annual instalments, in multiples of Rs. 500/-, with a minimum of Rs. 1000.
Vidya Nidhi deposit
In order to help the customers, particularly the middle income group like salaried class, small traders etc., to plan their savings and to make a financial provision well in advance to meet the future expenditure like the educational expenses of their children, specific purposes like investments, payment of annual instalments, a unique scheme called "Vidhya Nidhi Deposit" has been launched in our Bank. Under the scheme, deposits are accepted every month for specified periods like 36 months, 48 months or 60 months and the maturity value is paid to the customer in 3, 4 or 5 annual instalments respectively with further interest.
Savings Bank
Savings Bank accounts are suitable for inculcating the habit of savings among the customers. It offers liquidity for the money and also earns interest. Savings Bank accounts can be opened in the name of individuals, singly or jointly, minors of 14 years of age and HUF. Minimum balances are prescribed for ordinary as well as cheque operated Savings Bank accounts.
Health Plus Savings
A Free family Health Plus Savings Card will be issued to the account holder with photograph of the account holder affixed and the names of eligible family members. Discount on Master Medical Check-up and some other diagnostic services as extended by some selected hospitals will be available on producing health plus saving card at prescribed hospitals to the customer's choice on any number of occasions.
Current Accounts
Current accounts can be opened in the names of individuals (singly or jointly), proprietory concerns, partnerships, companies etc. Minimum balance is prescribed on this type of account and the account is operated by cheque. Though no interest is payable on this type of account, there is no restriction on the number of transactions.
Advantage Account
Initial deposit for opening the account if Rs.One lakh. DDs/BPOs at par upto Rs.2.00 lakhs and Free ATM card for individuals. Instant credit of outstation cheques for an amount upto Rs.20,000/-. Free ATM card for individuals. National clearing between major metro centres Free computerised statement of account. Extended business hours for non cash transaction at computerised branches
Stock Invests
Assesses eligible under section 54,54B,54D,54F,54G of Income Tax Act can open the account. All our branches except rural branches can accept the deposits. Minimum period for the deposit 15 days. Maximum period is 3 years to be eligible for exemption The tax payers can avail the benefit of exemption from capital gains only if the amount of Capital Gains or the net consideration is deposited on or before the due date of filing a return of income in accordance with the scheme
Home Loans
Salaried Class with minimum service of three years, Businessmen, Professionals and Self-employed with minimum experience of three years or Pensioners with repayment capacity can have a home loan for 50 years. NRIs gainfully employed with a residual contract period / service of atleast 3 years or NRI professionals with regular monthly income can also apply.
IB Rentencash
Any purpose including repairs, renovation of buildings, marriage, education, household festivals, medical, or any bankable purpose. Residential / Commercial building owners (individuals/ joint owners/ trusts/ societies/ corporates/ firms or any other entity*) who have / who propose to let their buildings to top notch Corporates / Public Sector Undertakings / State / Central Government Offices.
Consumer loans
For purchasing consumer durables and white goods like TV, VCR, VCP, Air-conditioners, Refrigerators, Personal Computers and accessories etc. Salaried class, Pensioners, Professionals, Self Employed business persons and other individuals who have regular income can avail.
Vehicle loans
For purchasing new/second hand two/four wheelers. Age of second-hand vehicle should not be more than 3 years and vehicle to be certified by Automobile Association of India/reputed Automobile Engineer/Valuer acceptable to the Bank as to the market value. Salaried class, Professionals, Businessmen and Self-employed persons can avail the loans
Education Loan
To meet the cost of education covering fee payable to college / school / hostel, exam fees, purchase of books / equipment’s, travel expenses / passage money for studies abroad, purchase of computers essential for completion of the course etc. Caution Deposit, Building fund/ refundable deposit supported by institution bills/receipts, subject to a maximum of 10% of total tuition fees for the entire course. Insurance premium for student borrower.
Trade Finance
Working capital needs of stock in trade, receivables/infrastructure. Showcases, Basic Office amenities like Computer Hardware Furniture layout for storage/display of goods traded, cold storage facilities. Neon Lighting, Hoarding, Display panels. Billing Equipment, Safety Equipment etc. Front elevation and beautification of layout. Other facilities aimed at Customer convenience like Air-conditioning, purchase of Delivery Van, Trolley etc.
Professional Loan
For purchase of necessary tools / equipments, vehicles (ambulance/jeep for office use), upgradation of existing equipments/renovation of Office building including Air-conditioners, furnishings, reference books, purchase of new vehicles (even if new vehicle /equipment has already been purchased out of own sources, reimbursement can be allowed, if it was acquired within 6 months). Qualified professional(s) like Chartered Accountants, Architects/ Interior Decorators, Qualified caterers etc. who are practicing in Metropolitan/ Urban/semi-urban areas, with minimum of 3 years experience (including internship).
Agicultural loans
Indian Bank Kisan Credit Card & Kisan Credit Card Plus, Golden Harvest Scheme, Sugar Premium.
TRACTOR FINANCE
- Fnancing Agriculturists for Purchase of Tractors
- Purchase of Second Hand Tractors by Agriculturists
- Loans for Maintenance of Tractors under Tie up with Sugar Mills
JEWEL LOANS
STRUCTURED LOANS
- Indian Bank Kisan Bike Scheme( IBKB )
- Indian Bank Agri Vendor Bike Scheme
- Agriculture Produce Marketing loan
- Kamadhenu Milk Vendor Scheme
- Joint Liability Groups
- Agricultural Godowns/Cold Storages
- Financing Agriclinics & Agribusiness Centres
- Land Purchase Scheme