Rate of Interest on Fixed Deposit in Corporation Bank

Can you tell me about the rate of interest charged under FD (Fixed Deposit) Scheme in Corporation Bank by its customers?

[pawan]

Fixed Deposit scheme in Corporation Bank is a regular income scheme in which interest can be paid at regular intervals viz. monthly, quarterly, half yearly or yearly at the option of the depositor.

Rate of Interest
The rate of interest depends on the period of deposit, payable at the rate as decided by the Bank from time to time.

Tenure Interest Rates for Regular Interest Rates for Senior
Deposit Citizen

7 days to 14 days 5.00% 5.50%
15 days to 45 days 5.00% 5.50%
46 days to 60 days 6.00% 6.50%
61 days to 90 days 6.00% 6.50%
91 days to 120 days 6.30% 6.80%
121 days to 180 days 6.30% 6.80%
181 days to 270 days 6.50% 7.00%
271 days to 364 days 6.50% 7.00%
1 year to 2 years 364 days 6.90% 7.40%
3 years to 10 years 6.80% 7.30%

FD Other Details

Who can open
An Individual in own name.
Individuals in their joint names with suitable repayment instructions
Minor represented by parents / guardian.
Clubs, Societies, Associations, Educational Institutions, Trusts, Firms, Partnerships, Joint Stock Companies, Executors, Administrators, HUFs, Govt. Departments, etc.

Period of Investment
7 Days to 120 months

Amount of Deposit
Minimum Rs.500/- in Rural & Semi Urban Branches & Rs.1, 000/- in Urban, Port town & Metro Branches
No Maximum Limit on deposit.

Interest Payment Frequency
Monthly / Quarterly / Half Yearly / Yearly as per the option of the Depositor

TDS on Interest Amount
TDS shall be deducted at applicable rate on entire interest amount once it crosses Rs.10, 000/-during the financial year

Add-ons
Nomination facility
Premature closure facility as per the rules lay down by the Bank.
Loan facility up to 90% on the deposit, while for 3rd party deposit, it is up to 75%