Indian Bank FD interest rates
Indian Bank has hiked the interest rate on FDs with tenure of 2 years to less than 3 years by 20 basis points (bps) from 6.50% to 6.70%. Interest rates on FDs with other tenures remain unchanged.
|Period||Less than Rs 2 crore|
|Existing (% p.a)||Revised (% p.a) w.e.f 4.3.2023|
|7 days to 14 days||2.8||2.8|
|15 days to 29 days||2.8||2.8|
|30 days to 45 days||3||3|
|46 days to 90 days||3.25||3.25|
|91 days to 120 days||3.5||3.5|
|121 days to 180 days||3.85||3.85|
|181 days to less than 9 months||4.5||4.5|
|9 months to less than 1 year||4.75||4.75|
|Above 1 year to less than 2 years||6.3||6.3|
|2 years to less than 3 years||6.5||6.7|
|3 years to less than 5 years||6.25||6.25|
|Above 5 years||6.1||6.1|
IND SUPER 400 DAYS
According to the Indian Bank website, “Special Retail Term Deposit Product “IND SUPER 400 DAYS” has been launched w.e.f 06.03.2023 offering higher rate of interest for investment starting from Rs.10,000 to less than 2 Crore for 400 days in the form of FD/MMD with callable options.” This scheme is available for women investors as well as others.
Under this scheme, the bank offers 0.05% higher interest rate to women investors. Note that scheme is valid till April 30, 2023.
|IND SUPER 400 DAYS — Rate of Interest(% p.a)|
|Public||7.15 %||7.10 %|
|Senior Citizen||7.65 %||7.60 %|
|Super Senior Citizen ( 80 yrs and above)||7.90 %||7.85 %|
Indian Bank senior citizen FD rates
Indian Bank offers an additional rate of interest of 0.50% p.a. for amounts up to Rs 10 crore for senior citizens. The highest interest rate offered is 7.2% on a tenure of 2 years to less than 3 years.
According to the Indian Bank website, “A special offer for Senior Citizens (Aged 60 years & above) : An additional 0.25% higher rate of interest over & above the additional rate that is presently being offered for normal Senior Citizen on Term Deposit (0.50+0.25 = 0.75) for deposit bucket above 5 Years up to 10 Years.”
Indian Bank super senior citizen FD rates
Indian Bank also offers a special term deposit called “IB – Golden Ager” for super senior citizens (Age 80 years and above). The bank is offering super senior citizens an additional interest of 0.25% over & above the additional rate that is currently being offered to senior citizens below the age of 80 years on term deposit for all deposit buckets. The highest interest rate of 7.45% is offered to super senior citizen on tenure of 2 years to less than 3 years.
IND SHAKTI 555 DAYS
Indian Bank has also introduced a special retail term deposit product called ” IND SHAKTI 555 DAYS ” on December 19, 2022, with a 555-day maturity period and for deposit amounts ranging from Rs. 5000 to less than Rs 2 crore. Under this scheme, Indian Bank is offering an interest rate of 7% for the general public and 7.50% for senior citizens. This scheme is valid till March 31, 2023.
|IND SHAKTI 555 DAYS – RATE OF INTEREST|
|Senior Citizen||7.50% w.e.f 28.12.2022|