Fixed Deposit Kochi
Last Updated : Aug. 24, 2017, noon
About Kochi
Known as the queen of the Arabian sea, Kochi is a major port city on the south- west coast of India. The major source of income is remittances from the Non- Resident Indians. Alike everywhere in Kerala, tourism industry significantly contributes in driving the local economy. Exports and allied activities are also important contributors to the city’s economy. The sole stock exchange of Kerala, Cochin Stock Exchange is present here. Therefore, the city is referred as the commercial capital of Kerala. It is a major online trading centre with a newly opened SEBI office.
About Fixed Deposit
Fixed Deposits is a remarkable way to save hard earned money. This is because the idle money put in use fetches interest. The invested amount increases due the interest yielded during the tenure. The depositor can open a fixed deposit account with any amount over and above minimum deposit amount. The time frame of the deposit is also to be decided by the customer. The yield on the deposit depends on the period for which the amount is going to remain with the bank. The depositor is not allowed to withdraw the amount before the maturity of the plan. If the deposit is withdrawn prematurely, then the interest is paid at the penal rates.
Fixed Deposit Kochi 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 | Rate of Interest |
|---|---|---|
| State Bank Of India | Aroor - Thoppumpady Rd, Thopumpady Junction, Thoppumpady, Kochi, Kerala 682005 1800 425 3800 | 2.90% - 6.20% |
| HDFC Bank | Thoppumpady, Catholic Centre, St. Joseph College Building, Kochi, Kerala 682005 0484 616 0616 | 2.50% - 6.25% |
| ICICI Bank | Ambal Building, Thoppumpady, First Floor, Near Gammon Bridge, Kochi, Kerala 682006 | 2.50% - 6.30% |
| Axis Bank | 41/419, Ground Floor Chicago Plaza, Rajaji Road, Ernakulam, 682035 | 2.50% - 6.50% |
| Punjab National Bank | Star Junction Kottukulam Road, Mattancherry, Distt. Ernakulam, Cochin, Kerala - 682002 | 2.90% - 5.75% |
| Bank of India | Ernakulam, At Kannankeri Estate, Shanmugham Road , Ernakulam, 682031, Kerala | 2.85% - 5.55% |
| Bank of Baroda | PB 222 Palace Road, Mattancherry (Ernakulam DT.), Cochin, 682002 | 2.90% - 6.30% |
| Central Bank Of India | PB 526, 5th Main Road Willingdon Island 682003 | 2.75% - 5.50% |
| Canara Bank | Shenoy`s Chamber No 40/2363 L & 40/2363M, Shanmugham Road, Marine Drive, Ernakulam, Kerala 682031 | 2.90% - 5.75% |
| Federal Bank | Federal Towers, Marine Drive, Ernakulam - 682031 | 2.50% - 6.00% |
