South Indian Bank fixed deposit offers a secure and lucrative investment avenue for individuals seeking stable returns on their savings. South Indian Bank FD rates help customers to grow their money steadily over time. Moreover, senior citizens can benefit from special advantages, as the bank provides attractive FD interest rates for senior citizens.
This table presents the interest rates offered by South Indian Bank for their fixed deposit (FD) schemes.
Tenure | Regular Interest Rates (p.a.) | Senior Citizen Interest Rates (p.a.) |
7 days to 30 days | 2.90% | 3.40% |
31 days to 90 days | 3.50% | 4.00% |
91 days to 99 days | 4.50% | 5.00% |
100 days | 6.00% | 6.50% |
101 days to 180 days | 4.50% | 5.00% |
181 days to less than 1 year | 5.00% | 5.50% |
1 year | 6.60% | 7.10% |
1 year 1 day | 7.00% | 7.50% |
1 year 2 days to 499 days | 6.50% | 7.00% |
500 days (SIB 94 Plus) | 7.40% | 7.40% |
501 days to less than 30 months | 6.50% | 7.00% |
30 months | 7.00% | 7.25% |
Above 30 months to less than 5 years | 6.50% | 7.00% |
5 years to less than 66 months | 6.00% | 6.50% |
66 months (Green deposit) | 6.50% | 7.00% |
Above 66 months to up to and including 10 years | 6.00% | 6.50% |
Eligibility Criteria for South Indian Bank FD Accounts
To open a fixed deposit account in South Indian Bank, one has to be eligible. The following individuals are eligible to invest in South Indian Bank FDs.
- Resident and nonresident individuals (including minors)
- HUFs (Hindu Undivided Families)
Documentation Required for South Indian Bank FD Accounts
To open a fixed deposit account in South Indian Bank, one needs the following documents.
- FD application form
- Introduction letter from a bank employee (if there is no savings account)
- Proof of identity (Passport, Voter ID, PAN Card, Aadhaar Card, and Driving License)
- Residence proof (Aadhaar Card, Passport, Bank Statement with Cheque)
- Proof of date of birth (Birth certificate, Voter ID, PAN Card, Aadhaar Card, Service Discharge Certificate)
South Indian Bank FD Schemes
- Kalpakanidhi Term Deposit
Kalpakanidhi is an interest reinvestment scheme with quarterly compounding. It offers flexible tenures from 6 months to 10 years and comes with automatic renewal options.
- SIB Flexi Deposit
The SIB Flexi Deposit scheme is a linked account to the depositor’s Savings bank account. The Flexi deposit account is maintained in units of INR 1,000. Interest is paid out quarterly, and TDS is applicable.
- SIB Tax Gain 2006
Investments up to INR 1,50,000 per annum qualify for tax exemption under Section 80C of the Income Tax Act. The tenure is a 5-year lock-in period, and the maximum investment amount is INR 1,50,000. The interest rate is similar to the FD rate with a 5-year maturity.
- Fast Cash Deposit
Fast Cash deposit is an ultra-short fixed deposit with automatic renewals. It offers tenures of 30, 46, or 91 days with both cumulative and non-cumulative options. Partial withdrawals are allowed, and the remaining balance continues to earn interest.
- FD Vantage Gamma
The minimum deposit for the scheme is INR 5,00,000, with insurance coverage of INR 2,00,000 for life. Eligibility is for individuals aged 18-50 years.
What are South Indian Bank FD Interest Rates for Deposits > 2 Crores
The table shows the interest rates offered by a financial institution for different tenures and deposit amounts ranging from Rs. 2.00 crores to Rs. 200 crores or more.
Tenor | Interest rates for Rs 2.00 – 200 Cr+ |
7-14 Days | 4.90 – 5.00 % |
15-30 Days | 6.05% |
31-60 Days | 6.10% |
61- 90 Days | 6.25% |
91-180 Days | 6.25% |
181 days to 270 days | 6.50% |
271 days to 365 days | 6.50% |
366 Days – 2 years | 7.00% |
Above 2 Years to up to and less than 3 Years | 6.00% |
3 Years | 6.00 – 6.65% |
Above 3 Years to less than 5 Years | 5.60% |
5 Years – 10 Years | 5.80% |
What are South Indian Bank FD Interest Rates for Deposits < 2 Crores?
South Indian Bank offers a range of fixed deposit (FD) interest rates for deposits below Rs. 2 crores.
Tenure | General Citizen | Senior Citizen |
7 days to 30 days | 2.65% | 3.15% |
31 days to 90 days | 3.25% | 3.75% |
91 days to 99 days | 4.25% | 4.75% |
100 days | 6.00% | 6.50% |
101 days to 180 days | 4.50% | 5.00% |
181 days to less than 1 year | 5.00% | 5.50% |
1 year | 6.60% | 7.10% |
1 year 1 day | 7.00% | 7.50% |
1 year 2 days to 499 days | 6.50% | 7.00% |
500 days (SIB 94 Plus) | 7.40% | 7.40% |
501 days to less than 30 months | 6.50% | 7.00% |
30 months | 7.00% | 7.25% |
Above 30 months to less than 5 years | 6.50% | 7.00% |
5 years to less than 66 months | 6.00% | 6.50% |
66 months (Green deposit) | 6.50% | 7.00% |
Above 66 months to up to and including 10 years | 6.00% | 6.50% |
Interest Rates for Domestic/ NRO / NRE Fixed Deposits
The following table tells about the Domestic and NRO fixed deposits:
Maturity Period | Interest Rates (% p.a.) for General | Interest Rates (% p.a.) for Senior Citizens |
7 days to 30 days | 2.90 | 3.40 |
31 days to 90 days | 3.50 | 4.00 |
91 days to 99 days | 4.50 | 5.00 |
100 days | 6.00 | 6.50 |
101 days to 180 days | 4.50 | 5.00 |
181 days to less than 1 year | 5.00 | 5.50 |
1 year | 6.60 | 7.10 |
1 year 1 day | 7.00 | 7.50 |
1 year 2 days to 499 days | 6.50 | 7.00 |
500 days (SIB 94 Plus) | 7.40 | 7.40 |
501 days to less than 30 months | 6.50 | 7.00 |
30 months | 7.00 | 7.25 |
Above 30 months to less than 5 years | 6.50 | 7.00 |
5 years to less than 66 months | 6.00 | 6.50 |
66 months (Green deposit) | 6.50 | 7.00 |
Above 66 months to 10 years | 6.00 | 6.50 |
The following table represents NRE FD Interest Rates on fixed deposits.
Maturity Period | Interest Rate (% p.a.) |
1 year | 6.60 |
1 year 1 day | 7.00 |
1 year 2 days to 499 days | 6.50 |
500 days (SIB 94 Plus) | 7.40 |
501 days to less than 30 months | 6.50 |
30 months | 7.00 |
Above 30 months to less than 5 years | 6.50 |
5 years to less than 66 months | 6.00 |
66 months (Green deposit) | 6.50 |
Above 66 months to 10 years | 6.00 |
Summing Up
Investing in a South Indian Bank Fixed Deposit is a wise financial decision if you are thinking of investing your money. The bank has generated considerable returns for all its customers. The special FD interest rates for senior citizens provide added benefits for retirees and elderly investors. With South Indian Bank fixed deposit plans,individuals can plan their future finances with ease.
South Indian Bank Fixed Deposit FAQ’s :-
To know in how many years South Indian Bank fixed deposits will double, you can follow the 72 rule. You have to divide 72 by the interest rate, and the result will be the number of years in which South Indian Bank FD will double.
South Indian Bank FD tenure ranges from 7 days to 9 years 11 months 27 days.
You can check South Indian Bank FD balance either in online or offline modes. For online mode, log in to the South Indian Bank internet banking portal.