Indian Bank, based in Chennai, Tamil Nadu, is a leading nationalised financial service and banking company in India, owned by the Government of India. With over 100 million customers, it ranks among the top-performing public sector banks. Offering various FD options, Indian Bank ensures secure savings with attractive interest rates. Minimum deposits are required for opening an Indian Bank FD and no additional deposits are allowed after that.
FD Interest Rates in Indian Banks: Below INR 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 1 day to less than 2 years||6.30%||6.80%|
|2 years to less than 3 years||6.70%||7.20%|
|3 years to less than 5 years||6.25%||6.75%|
|More than 5 years||6.10%||6.60%|
|Period||Rs.2 crore to Rs.5 crore|
|Existing (% p.a)||Revised (% p.a)||Existing (% p.a)||Revised (% p.a)|
|7 days to 14 days||2.9||5||2.9||5|
|15 days to 29 days||5||5||5||5|
|30 days to 45 days||5||6||5||6|
|46 days to 90 days||5.25||5.25||5.25||5.25|
|91 days to 120 days||5.25||5.25||5.25||5.25|
|121 days to 180 days||5.5||5.5||5.5||5.5|
|181 days to less than 9 months||5.5||5.5||5.5||5.5|
|9 months to less than 1 year||6.25||6.25||6.25||6.25|
|Above 1 year to less than 2 years||6.65||6.65||6.65||6.65|
|2 years to less than 3 years||6.1||6.1||6.1||6.1|
|3 years to less than 5 years||6||6||6||6|
|Above 5 years||6||6||6||6|
Indian Bank Fixed Deposit Rates as of March 4, 2023, for NRE, Domestic, Capital Gains Type B and Tax Saver Deposits up to INR 2 Crore
|Period||Interest Rates (% p.a.)|
|Regular Citizens||Senior Citizens|
|7 days to 14 days||2.80||2.80|
|15 days to 29 days||2.80||3.30|
|30 days to 45 days||3.00||3.50|
|46 days to 90 days||3.25||3.75|
|91 days to 120 days||3.50||4.00|
|121 days to 180 days||3.85||4.35|
|181 days to less than 9 months||4.50||5.00|
|9 months to less than 1 year||4.75||5.25|
|Above 1 year to less than 2 years||6.30||6.80|
|2 years to less than 3 years||6.70||7.20|
|3 years to less than 5 years||6.25||6.75|
|Above 5 years||6.10||6.85|
Exclusive Fixed Deposit Interest Rate
|Tenure||Indian bank FD interest rates (% p.a.)|
|IND SUPER 400 Days (valid till 31 August 2023)||Public||Senior Citizen||Super Senior Citizen|
|IND SUPREME 300 days (valid till 31 August 2023)||7.05||7.55||7.80|
Indian Bank Interest Rates for Domestic/NRE/Capital Gains Type B/Tax Saver Fixed Deposits in the INR 2 Crore to Less Than INR 5 Crore Range, Effective from 7th February 2023
|Period||Indian Bank FD Interest Rates (% p.a.)|
|Regular Citizens||Senior Citizens|
|7 days to 14 days||5.00||5.50|
|15 days to 29 days||5.00||5.50|
|30 days to 45 days||6.00||6.50|
|46 days to 90 days||5.25||5.75|
|91 days to 120 days||5.25||5.75|
|121 days to 180 days||5.50||6.00|
|181 days to less than 9 months||5.50||6.00|
|9 months to less than 1 year||6.25||6.75|
|Above 1 year to less than 2 years||6.65||7.15|
|2 years to less than 3 years||6.10||6.60|
|3 years to less than 5 years||6.00||6.50|
|Above 5 years||6.00||6.75|
Revised Interest Rates for FCNR (B) and RFC Deposits Effective from June 3, 2023
|Currency||Indian Bank FD Interest Rates (% p.a.)|
|1 year to less than 2 years||2 years to less than 3 years||3 years to less than 4 years||4 years to less than 5 years||5 years|
The Indian Bank Fixed Deposit Calculator
The Indian Bank Fixed Deposit Calculator is a valuable resource for investors seeking to assess the potential returns on their investments. This tool allows individuals to plan better and manage their financial goals. Understanding the diverse interest rates offered by Indian Bank for FD investments is of utmost importance, as it directly influences the accrued interest and the final maturity amount.
For general citizens investing less than INR 2 crore, the Indian Bank offers fixed deposit interest rates ranging from 2.80% to 6.50%. However, senior citizens stand to benefit from an additional interest rate of 0.50% for deposits up to INR 10 crores.
The online Indian Bank FD calculator simplifies estimating the maturity amount. The Indian Bank FD calculator promptly computes the outcome by entering the applicable interest rate, total tenure and principal amount. This user-friendly tool empowers investors to make well-informed financial decisions by effectively comparing the maturity amounts for various investment tenures and amounts.
Indian Bank offers a deposit tenure ranging from 7 days to 10 years.
Certainly! An individual who holds an account with Indian Bank can close their FD at any time, except tax-saver FDs, which have a mandatory lock-in period of 5 years.
Withdrawal before maturity incurs a penalty based on the prevailing card rate minus 1% per annum as foreclosure charges. This applies to deposits above INR 5 lakh with a tenure of 1 year or more but not to staff, ex-staff and senior citizens’ deposits.
The Indian Bank Tax Saver fixed deposit is available to resident individuals (sole or joint account) and Hindu Undivided Families. These individuals and families meet the eligibility requirements to open this Indian Bank FD account.
You can choose a deposit period ranging from 1 year as the minimum to 3 years as the maximum for the Indian Bank facility deposit.
Indian Bank FD rates for senior citizens range from 3.30% to 7.75% per annum on FD tenures from 7 days up to 5 years and above.
Yes. You can apply for Indian Bank FD via internet banking.