Indian Bank FD Interest Rates
Indian Bank is one of the oldest banks of the country which was constituted in 1907. The bank is known for offering investment products such as fixed deposit or Term Deposits for rewarding interest rates and high returns.
The interest rate for fixed deposits below Rs.2 crore ranges from 2.80% p.a. to 6.70% p.a. The range of maturity period is 7 days to more than 5 Years.
For senior citizens, the bank offers an additional interest rate of 0.50% p.a. for deposits of up to Rs.2 crore. Special scheme "IND Super 400 days" deposit rates are range from 7.25% to 8.00%.
According to the website of the Indian bank, a Special Retail Fixed Deposit product called "IND SUPER 400 DAYS" has been introduced as of March 6, 2023, for 400 days for deposits between Rs.100,000 and less than Rs.2 crore.
The program will remain in effect until 30 August 2023.
Indian Bank FD interest Rates: Less than Rs.2 crore
Tenure Bracket | Regular FD rates (p.a.) | Senior Citizens FD rates (p.a.) |
7 to 14 days | 2.80% | 3.30% |
15 to 29 days | 2.80% | 3.30% |
30 to 45 days | 3.00% | 3.50% |
46 to 90 days | 3.25% | 3.75% |
91 to 120 days | 3.50% | 4.00% |
121 to 180 days | 3.85% | 4.25% |
181 days to less than 9 months | 4.50% | 5.00% |
9 months to less than 1 year | 4.75% | 5.25% |
1 year | 6.10% | 6.60% |
1 year 1 day to less than 2 years | 7.10% | 7.60% |
2 years to less than 3 years | 6.70% | 7.20% |
3 years to less than 5 years | 6.25% | 6.75% |
5 years | 6.25% | 6.75% |
More than 5 years | 6.10% | 6.60% |
*The Indian Bank Fixed Deposit interest rates tend to change at the discretion of the bank. The rates of interest mentioned here are valid as of 03 June 2024.
Ind Super 400 Days – Special FD Rates
Term | Interest Rates (p.a.) |
Public | 7.05% |
Senior Citizen | 7.55% |
Super Senior Citizen ( 80 yrs and above) | 7.80% |
*The Indian Bank Fixed Deposit interest rates tend to change at the discretion of the bank. The rates of interest mentioned here are valid as of 03 June 2024.
Indian Bank FD Interest Rates: Rs.2 crore to Rs.5 crore
Tenure Bracket | Callable | Non-Callable |
7 to 14 days | 5.00% | 5.00% |
15 to 29 days | 5.00% | 5.00% |
30 to 45 days | 6.00% | 6.00% |
46 to 90 days | 5.25% | 5.25% |
91 to 120 days | 5.25% | 5.25% |
121 to 180 days | 5.50% | 5.50% |
181 days to less than 9 months | 5.50% | 5.50% |
9 months to less than 1 year | 6.25% | 6.25% |
1 year | 6.70% | 6.70% |
1 year 1 day to 2 years | 6.65% | 6.65% |
2 years to less than 3 years | 6.10% | 6.10% |
3 years to less than 5 years | 6.00% | 6.00% |
5 years | 6.00% | 6.00% |
More than 5 years | 6.00% | 6.00% |
*The Indian Bank Fixed Deposit interest rates tend to change at the discretion of the bank. The rates of interest mentioned here are valid as of 04 March 2023.
Indian Bank Tax Saver Scheme FD Rates
The interest rates* for Indian Bank Tax Saver Scheme are given below:
Tenure | Regular FD rates (p.a.) | Senior Citizens FD rates (p.a.) |
5 years | 6.25% | 6.75% |
*The IB Tax Saver FD rates are subject to change as per the discretion of the bank. The rates mentioned are valid as of 04 March 2023.
Indian Bank NRE FD Rates
The following table enlists the Indian Bank Non-Resident External Deposit rates*:
Tenure Bracket | Less than Rs.2 crore (p.a.) | Rs. 2 crore to Rs.5 crore (p.a.) |
1 year | 6.10% | 6.70% |
12 months to less than 24 months | 6.30% | 6.65% |
24 months to less than 36 months | 6.50% | 6.10% |
3 years to less than 5 years | 6.25% | 6.00% |
5 years | 6.25% | 6.00% |
More than 5 years | 6.10% | 6.00% |
*The Indian Bank NRE FD interest rates are subject to change as per the discretion of the bank. The given rates are valid as of 04 March 2023.
Indian Bank FCNR (B) Rates
Given below are the FCNR (B) rates offered by Indian Bank:
CURRENCY | PERIOD | ||||
1 <2 Yrs | 2 < 3 Yrs | 3 < 4 Yrs | 4 < 5 Yrs | 5 Years only | |
USD | 5.00 | 3.95 | 3.60 | 3.60 | 3.60 |
(4.25) | (3.45) | (3.10) | (3.10) | (3.10) | |
GBP | 2.00 | 2.20 | 2.25 | 2.25 | 2.25 |
(2.00) | (2.20) | (2.25) | (2.25) | (2.25) | |
EUR | 0.02 | 0.01 | 0.01 | 0.10 | 0.15 |
(0.02) | (0.01) | (0.01) | (0.10) | (0.15) | |
JPY | 0.11 | 0.13 | 0.12 | 0.13 | 0.14 |
(0.11) | (0.13) | (0.12) | (0.13) | (0.14) | |
CAD | 1.81 | 2.36 | 2.60 | 2.66 | 2.67 |
(1.81) | (2.36) | (2.60) | (2.66) | (2.67) | |
AUD | 1.20 | 1.70 | 2.05 | 2.30 | 2.45 |
(1.20) | (1.70) | (2.05) | (2.30) | (2.45) | |
CHF | 0.00 | 0.01 | 0.02 | 0.03 | 0.05 |
(0.00) | (0.01) | (0.02) | (0.03) | (0.05) | |
SGD | 0.27 | 0.40 | 0.49 | 0.55 | 0.61 |
(0.27) | (0.40) | (0.49) | (0.55) | (0.61) | |
*The Indian Bank FCNR (B) interest rates are subject to change as per the discretion of the bank. The given rates are valid as of 04 March 2023.
FAQs on Indian Bank FD Rates
- What is the maximum amount that can be deposited in a day under the Indian Bank fixed deposit scheme?
The maximum amount that can be opened as a single deposit in a day for an Indian Bank fixed deposit is Rs.2 crore. This is within the overall Rs.10 crore limit that is tagged to a single Customer Information File (CIF).
- For Indian Bank fixed deposits under Hindu Undivided Family (HUF), if the Karta is a senior citizen, are senior citizen rates for deposits under Rs.10 crore applicable?
Kartas of a Hindu Undivided Family (HUF), even if they are senior citizens, will not be eligible for the additional rate of interest that is given to senior citizens because the fixed deposit is not in their individual capacity but under the HUF itself.
- When fixed deposit interest rates are revised, are the new rates applicable to existing deposits?
The revised interest rates on fixed deposits are only applicable for deposits that are renewed and for new deposits.
- When is the interest on fixed deposits in Indian Bank credited into the account?
When the interest is calculated on a daily basis, the amount is credited in the months of March, June, September, and December, i.e., on a quarterly basis every year.
- Are there foreclosure charges for Indian Bank senior citizen fixed deposits?
There are no foreclosure charges for deposits in the name of senior citizens for Indian Bank fixed deposits. There are also no foreclosure charges for fixed deposits that are held by current or former employees of the bank or current or former employees of the bank who are senior citizens as well.
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