Fixed Deposit or FD is a good interest rate investment option. CSB Bank offers a Fixed Deposit Account with a high-interest rate. Fixed Deposit can open for the duration of a minimum of 7 days and a maximum of ten years. Fixed Deposit gives you a high-interest rate on your deposit amount. The Deposit minimum amount is depending upon the bank. You can also visit the official website.

Benefits of CSB Bank Fixed Deposit

  • You get a higher interest rate on your fixed Deposit while comparing with saving accounts.
  • Multiple fixed deposits can open.
  • RBL Bank also gives a loan on your fixed Deposit so that, you don’t need to break your Deposit for your need.
  • You can get an Rs.1.5 lakh exemption under Section 80 C of the Income Tax Act, 1961.
  • If you are a senior citizen, then you will get a high-interest rate on your Fixed Deposit account.

Fixed Deposit Eligibility

  • Fixed Deposits can open the name of Individual, Joint, Society, Company, Partnership, etc.
  • The applicant must have a savings account in the bank.

Income Tax Facts on CSB Bank Fixed Deposit Interest

If you are looking for income tax fact on Fixed Deposit interest, then you can check below:

  • If Fixed Deposit interest is less then Rs. 40, 000/-, then the CSB Bank will deduct TDS on interest.
  • Interest earned on Fixed Deposit is taxable. It will treat as Income from Other Sources.
  • If you don’t want to pay any TDS on Fixed Deposit, then you have to submit Form 15G and Form 15H in CSB Bank.

CSB Bank Tax Benefit Fixed Deposit

  • Interest Rate is 6.5% for 5 years term deposits.
  • The amount can not withdraw before five years.
  • The deposit account can not transfer to another bank.

CSB Bank Fixed Deposit Interest Rate

PeriodBelow 2 Crore Rs 2 Crore and above 
7 to 14 days (Minimum amount of deposit Rs 5 lac)3.50%Daily Quotes
15 days to 29 days4.00%
30 days to 90 days5.00%
91 days to 179 days5.50%
180 days to less than 1 year6.00%
1 Year6.50%
Above 1 Year to and including 10 Years6.25%

INTEREST RATE FOR ACHARYA DEPOSITS

PeriodBelow 2 CroreRs 2 Crore and above
180 days to less than 1 Year6.50%6.50%
1 Year7.00%7.00%
Above 1 Year to and including 10 Years6.75%6.75%

ANNUALISED YIELD FOR DOMESTIC TERM DEPOSITS

PeriodDeposits of less than Rs 200 lac
1 Year6.92%
2 Years6.88%
3 Years7.11%
4 Years7.36%
5 Years7.61%
6 Years7.87%
7 Years8.15%
8 Years8.44%
9 Years8.74%
10 Years9.06%

ACHARYA DEPOSITS

PeriodDeposits of less than Rs 200 lac
1 Year7.45%
2 Years7.44%
3 Years7.71%
4 Years8.00%
5 Years8.30%
6 Years8.61%
7 Years8.93%
8 Years9.28%
9 Years9.64%
10 Years10.02%

INTEREST RATES ON DOMESTIC SAVINGS BANK DEPOSITS

SlabEnd of the Day BalanceRates of Interest (p.a.)
1Up to and including Rs 1 lakh1.90% below RBI’s Repo Rate (floating)
2Upto and including Rs 50 lakh1.90% below RBI’s Repo Rate for an amount upto Rs 1 lakh
4.00% for the remaining balance (of above Rs 1 lakh)
3Above Rs 50 lakh1.90% below RBI’s Repo Rate for an amount upto Rs 1 lakh
4.00% for the amount above Rs 1 lakh and upto Rs 50 lakhs
5.00% for the remaining balance (of above Rs 50 lakhs)