Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
  • loading

    Indian Bank Fixed Deposit Rates
     and 2 other FDs
    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year onwards
    6% - 6.5% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Indian Bank Fixed Deposit Rates is Rated as "Excellent!" by 24 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    Indian Bank Fixed Deposit Rates

    Indian Bank is a well-known name in the banking sector in India. They offer competitive interest rates and a wide range of Fixed Deposit (FD) options. Some of the FD options include Regular Fixed Deposits, Tax Saver FDs, Re-investment Plans, Facility Deposits and Deposit Schemes for Senior Citizens. The bank also provides automatic renewal facility, loan and overdraft options, nomination and pre-closure of term deposit.

    Indian Bank also offers a range of flexible tenure options that a customer can choose from. The minimum tenure on Indian Bank FDs is 7 days to 14 days, while the maximum is 10 years. The highest rate of interest offered on term deposits is 6.25% for individuals and the highest rate of interest offered for senior citizens is 7%.

    Indian Bank fixed deposit rates for investments less than Rs.1 crore

    Tenure Interest rates for individuals (in % p.a.) Interest rates for senior citizens(in % p.a.)
    7 days to 14 days 4.00% 4.50%
    15 days to 29 days 4.00% 4.50%
    30 days to 45 days 4.50% 5.00%
    46 days to 90 days 4.50% 5.00%
    91 days to 120 days 5.25% 5.75%
    121 days to 180 days 5.25% 5.75%
    181 days to less than 9 months 5.75% 6.25%
    9 months to less than 1 year 6.25% 6.75%
    1 year 6.50% 7.00%
    Above 1 year to less than 2 years 6.25% 6.75%
    2 years to less than 3 years 6.25% 6.75%
    3 years and above 6.00% 6.50%

    *Interest rates are subject to change based on the discretion of the bank.

    Indian Bank short-term FDs

    Indian Bank offers customers a good range of short-term term deposit options. These types of deposits are ideal for those looking to make investments but do not want to lock in their funds for a longer tenure. The tenure range of short-term deposits vary anywhere between 7 days to 1 year. The interest rates offered in this slab ranges from 4% to 6.25%. The highest rate of interest offered is 6.5% for all deposits that are held for a time period of 1 year. The second highest rate of interest offered is 6.25% for FDs held for 9 months to less than 1 year.

    Indian Bank medium-term FDs

    Indian Bank medium-term deposits offer competitive interest rates and comes with a range of flexible tenure options. The investment period for these term deposits ranges from above 1 year to 2 years to less than 3 years. The interest rate offered on medium-term deposits is 6.25%.

    Indian Bank long-term FDs

    Long-term deposits are also a good option to create a savings pool for the future. The tenure range offered on these FDs are 3 years to 10 years. In this slab, the interest rate offered is 6%. Customers can also invest in tax saver deposits to get a tax benefit under Section 80C of the Income Tax Act.

    Indian Bank senior citizen FD rates

    All senior citizens can avail the benefit of higher interest rates in Indian Bank. An additional interest rate of 0.50% will be payable on all FDs for senior citizens for an investment amount of less than Rs.1 crore. Those above 60 will have to provide valid age proof to avail the additional interest rate benefit. The highest rate of interest offered is 7% for deposits held for 1 year. An interest rate of 6.75% is provided for deposits that are held for 9 months to less than 1 year, above 1 year to less than 2 years, and 2 years to less than 3 years.

    Types of FD schemes offered by Indian Bank

    Indian Bank offers customers different types of FD options and customers can choose an investment option depending on their personal needs and financial goals. Let us take a look at the range of FD options:

    • Regular Fixed Deposits
    • Re-investment Plan
    • Tax saver Deposits
    • Facility Deposit
    • Deposit Scheme for Senior Citizens
    1. Regular Fixed Deposits: Indian Bank offers good interest rates and customers can choose to invest for a minimum period of 7 days to 14 days and a maximum period of 10 years. The minimum deposit amount is Rs.100, while there is no limit on the maximum investment amount. The other facilities available in this type of deposit is automatic renewal, loan/overdraft facility, pre-closure of deposit, etc. To know more about the interest rates offered, please refer to the table above.

    2. Re-investment Plan: Re-investment deposits are also an ideal option for investors because here the dividend earned is reinvested for future gains. These deposits come with a minimum tenure of 6 months and a maximum tenure of 10 years. The interest is usually compounded on a quarterly basis and Indian Bank offers customers nomination facility, along with loan and overdraft facility. Please note that the interest earned on these type of deposits are subject to TDS.

    3. Tax Saver Deposits: This type of term deposit caters to the need of those who are looking to avail tax benefits while still continuing to earn a lucrative interest rate on investments. Customers can invest in multiples of Rs.100 for a minimum of 5 years to avail a tax benefit under Section 80C of the Income Tax Act. Here the minimum amount that can be invested is Rs.100 and the minimum tenure is 5 years, while the maximum is 10 years. However, investors must note that no loan can be availed on these deposits and they come with a lock in period of a minimum of 5 years.

    4. Facility Deposit: The main feature of a facility deposit is that it comes with a built-in overdraft facility of up to 90%. The minimum period of investment under this scheme is 1 year while the maximum number of years is 3. An investor will have to make a minimum investment amount of Rs.10,000 to avail the facility. Customers can also avail automatic renewal facility for this FD scheme.

    5. Deposit Scheme for Senior citizens: These type of term deposits are specially designed for senior citizens, who will be eligible for a higher interest rate and other value added benefits. Age proof needs to be submitted to avail some of the benefits offered under this scheme. The minimum tenure of investment is 15 days and the maximum is 10 years. The minimum investment that needs to be made under this scheme is Rs.1000. The range of benefits available include loan facility, foreclosure, automatic renewal, etc.

    Indian Bank FD Calculator

    Calculating the maturity amount is a very easy process and can be done using an online FD calculator. The information required to calculate the total maturity amount is the principal invested, the rate of interest, interest compounding frequency, and tenure of the deposit. Take for example, you invest Rs.1 lakh for a period of 1 year with an interest rate of 6.5%. The total maturity amount will approximately add up to Rs.1,06,500, if the interest is computed on an annual basis. The total interest earned will amount to Rs.6500. There will be a slight variation if the interest is computed on a quarterly or monthly basis.

    To calculate this, using a calculator, all you have to do is to feed in the data.

    Now, let us understand more about that factors that affect the maturity amount:

    • Principal invested: This refers to the initial investment that is made for the term deposit. This amount is one of the main factors that affect the maturity value of the FD.
    • Interest rate: The rate of interest offered by the bank is one among the other most important factors that help determine the total value of the investment at the end of the tenure period. The rate of interest differs for each investment depending on the tenure range that the customer chooses.
    • Tenure of deposit: Indian Bank offers a wide range of tenure options. The time period for which the investment is chosen is a crucial factor that determines the value of the investment after the maturity period.
    • Frequency of interest compounding: There are many ways of calculating interest on an FD. The interest can be simple interest or compound interest. Also, apart from this, the interest compounding frequency also comes into play.

    Key Information before Opening a Fixed Deposit

    Eligibility Criteria to open Indian Bank FD
    • Individuals, residents of India
    • Joint account holders
    • Hindu Undivided Families
    • Partnership firms
    • Private and Public limited firms
    • Trusts
    • Partnership firms
    • Illiterate persons
    • Blind persons
    • Municipalities
    • Panchayats
    • Educational Institutions
    • Charitable Institutions
    • Sole Proprietary concerns
    Documents Required
    • Identity proof & Address proof as per KYC Norms
    • PAN Card copy/ Form 60 or 61
    • Aadhaar Card Details
      Benefits of a Indian Bank FD
    • Loan/overdraft facility
    • Nomination facility
    • Tax saver FD
    • Flexible tenure ranges
    • Various FD schemes
    • Competitive interest rates

    About the Bank

    Indian Bank was established in 1907 and is one among the most well-reputed public sector banks in India. The history of the formation of the bank goes back to the Swadeshi movement, at the time of which the bank came into being.

    The bank has now carved out a niche for itself in India and overseas. Indian Bank has as many as 227 overseas correspondent banks spread over 75 countries. Some of their well-known international branches are located in Singapore, Colombo, and Jaffna. Indian bank is known for its specialized banking services, for its initiates to promote rural development and also for embracing the latest technologies in the banking sector.

    Minimum and Maximum Indian Bank fd interest rates 2017 for Regular and Senior Citizen
    Indian Bank FD Rates

    FAQs for Indian Bank FD

    1. How to apply for an Indian Bank deposit online?

      Opening an account with Indian Bank is a simple and easy process. A term deposit can be opened online by logging on to the internet banking account by providing username and password.

    2. Do you have to be an existing customer with Indian Bank to open an FD online?

      Yes. Only existing customers with a valid internet banking account can open an FD online. Those who are not existing customers, will have to visit the bank branch, apply for the selected FD and request for an internet banking account.

    3. Is it possible to deposit an additional amount in an FD account at any point in time?

      No. Indian Bank may not allow this. The customer will have to wait until the maturity period to do so.

    4. Does Indian Bank allow customers to change the deposit tenure after opening the FD?

      No, changing the tenure after opening the fixed deposit is not possible. It is however possible to close the deposit and open a new account with the desired tenure.

    5. Is PAN mandatory to open an FD account? What are the consequences of not providing PAN card details?

      PAN card is absolutely mandatory to open an FD account. If a customer fails to provide PAN card details, the following will be the consequences:

      • A higher rate of TDS will be deducted, which will be at 20%, instead of 10%
      • The Income Tax department will not give the customer any TDS credit or issue a TDS certificate
      • Forms like 15G/H and other kind of tax exemption certificates will become invalid

    News About Indian Bank

    • Fixed Deposit Rate Changes for Indian Bank

      Lowering and increasing of rates for loans and credit facilities has been going on for banks, alongside the changes that are being made to the fixed deposit schemes in place. While some banks are reducing the rates and splitting up the tenures, some banks are increasing the rates over specific tenures and decreasing the rates on others.

      Indian Bank currently offers the following rates for deposits up to INR 1 crore. From 7 days to 45 days, the active rate of interest changed to 5% per annum from 5.25% per annum and from 46 days to 90 days, the rate of interest now reads 6% per annum as opposed to 6.25% per annum. From 91 days to 180 days, the rate of interest as advertised is now 6.50% per annum from the erstwhile 6.75% per annum and that becomes 7% for a period of 181 days to less than 9 months. From 9 months and above, deposits can enjoy a rate of interest of 7.25% per annum and that is the highest rate of interest available.

      23rd February 2016

    • Fixed Deposit Rate Changes for Indian Bank

      Foreign currency non-resident term deposits at Indian Bank have faced a rate change that will be effective immediately.

      For deposits of 1 year and above but less than two years,the existing rates of 1.88 percent have been brought down to 1.70 percent concerning US dollars. Similarly, deposits of two years and above but less than 3 years have seen a decrease to 1.86% from an earlier 2.16%. 3 years and above but less than 4 years deposits will now have an interest rate of 2.50% instead of 2.93%. Rates fell from 3.12% to 2.65% per annum for deposits of 4 years and more but less than 5 years, while deposits spanning more than 5 years faced a 0.6% decrease and are currently set at 2.79% per annum.

      3rd February 2016

    • NRI Deposits see a spike in Interest Rates

      Indian Bank has reportedly increased its interest rates for foreign currency non-resident Indian deposits with immediate effect.

      The interest rate for Foreign Currency Non-Resident (Banking) deposits in dollar terms has been fixed at 1.88%, from the existing 1.70%, for deposits of one year and above but less than two years. Though marginal, an increase of 0.18% is quite welcome. For deposits of two years and above but less than three years, the interest rate has been revised to 2.16% gaining an increase of 0.16%. For deposits of three years and above but less than four years, an increase of 0.17% has brought the final rate to 2.93% per annum. For deposits of four years and above and less than 5 years, a similar increase of 0.17%. For deposits more than 5 years in tenure, a 0.16% increase has brought the interest rate to 3.25% per annum.

      5th January 2016

    • Foreign Currency Non-Resident Deposits rate revised by Indian Bank

      Indian Bank has decided to reduce their Foreign Currency Non-Resident Deposits rates effective today 5th October 2015. For deposits made in US dollars the bank has decided to reduce the rate from 2.76% - 2.51% for deposits of 3 years and above but less than 4 years, for deposits of 4 years and above but but less than 5 years the rate have been cut to 2.73% from 2.98%. For deposits made for 5 years, the interest rates have been cut to 2.92% from 3.17%. The rates will not change for deposits of 1-3 years

      5th October 2015

    • Revised FCNR deposit rates by Indian Bank

      Foreign Currency non-resident deposits or FCNR deposits from Indian Bank will offer revised rates to customers from June 1st, 2015 onwards. Indian Bank is a public sector bank in India and has revised rates that it offers to its non-resident customers.

      Deposits with a lock-in period between 1-2 years will offer interest rate of 1.50 per cent p.a. as against 1.46 per cent existing rate of interest. For deposits between 2-3 years, the rate has been fixed at 1.87per cent p.a. which is 0.04% more than the existing rate of 1.83 per cent.

      The rates have gone up from 2.88 percent to 2.95 per cent for deposits with a deposit period of 3-4 years. Similarly, deposits with 4-5 years of deposit period are now pegged at 3.19 per cent as against the prevailing rate of 3.13.

      Deposits above 5 years of tenure will fetch a rate of 3.40 per cent which is 0.07 per cent higher than the current 3.33 per cent p.a.

      01st June 2015

    Indian Bank Fixed Deposit Reviews

    • Indian Bank Fixed Deposit
      "Good"
      0.5 4.0/5 "Great!"
      I am having the fixed deposit account with the Indian bank and the services are good one with them. I have not faced any issues nor any drawback with the Indian bank system also I would like to comment that their online banking services are really good with them.
      Was this review helpful? 0
      , kanchipuram
      Reviewed on Nov 04, 2017
    • Indian Bank Fixed Deposit
      "Deposit scheme"
      0.5 4.0/5 "Great!"
      I have a Fixed deposit scheme with Indian Bank which I have been taking and reinvesting in it for a couple of times. The recent scheme is for 3 years and offers an interest rate of 7-8%.. Its a very user friendly procedure of applying by filling the forms which is simple,time saving and foolproof as well.
      Was this review helpful? 7
      , coimbatore
      Reviewed on May 04, 2016
    • Indian Bank Fixed Deposit
      "Fixed deposit with nationalized bank"
      0.5 5.0/5 "Blown Away!"
      I have the fixed deposit account with the Indian bank and I been with them from the last two years of time. Advantages are not such with them rather than they are nationalized bank. They have provided around 8.5% for the first year and now they are providing around 7.5% as interest rate now.
      Was this review helpful? 8
      , chennai
      Reviewed on Apr 13, 2016
    • Indian Bank Fixed Deposit
      "Future benefits.."
      0.5 3.0/5 "Satisfactory"
      My fixed account is with Indian Bank for the past 10 years. They are providing more benefits for their senior citizens. I am getting around 8% interest for this account. In terms of customer service they were very slow and it would be great speed up their process.
      Was this review helpful? 8
      , chennai
      Reviewed on Jan 02, 2016
    • Indian Bank Fixed Deposit
      "FD rate is high.."
      0.5 5.0/5 "Blown Away!"
      My father is an employee of Indian Bank and on that I opened the fixed deposit. In addition to that the rate for fixed deposit is something high for me. Not activated the net banking but I tried once where that is pretty good and not user friendly.
      Was this review helpful? 6
      , bangalore
      Reviewed on Dec 14, 2015
    • Indian Bank Fixed Deposit
      "Very good"
      0.5 5.0/5 "Blown Away!"
      INDIAN Bank Fixed Deposit is fine its very good. I am holding this FD for 10 years . The most interesting about is the rate of interest 9% annual basis they have charged interest. Interest rate offered by INDIAN for senior citizen was 9.5% . I am allowed to make a partial liquidation and I can withdraw a part about the amount.
      Was this review helpful? 8
      , new delhi
      Reviewed on Nov 26, 2015
    • Indian Bank Fixed Deposit
      "Its fine"
      0.5 5.0/5 "Blown Away!"
      INDIAN Fixed Deposit is fine. I am holding this FD for quite some time now. I am holding this FD for a period of 9 months. The best part about this FD is just the rate of interest for 9 months is more I am getting a better interest on that. There is no drawback or challenges here.
      Was this review helpful? 4
      , pondicherry
      Reviewed on Nov 25, 2015
    • Indian Bank Fixed Deposit
      "My FD"
      0.5 5.0/5 "Blown Away!"
      My FD is with INDIAN Bank. Customer service offered by them was prompt. If any one is having an account with INDIAN bank they can invest there. The best part here is they call up when the FD is getting matured to check whether they are interested in taking it further or not, I am holding this FD since 2016 March,
      Was this review helpful? 2
      , kolkata
      Reviewed on Nov 11, 2015
    • Indian Bank Fixed Deposit
      "Family bank...."
      0.5 5.0/5 "Blown Away!"
      Indian bank is best for Fixed account. We will get higher interest compare to other banks. They offered 8%. They were very customer friendly and I would say its kind of family bank. Its in my home down and I am associated with them for the past 20yrs.
      Was this review helpful? 3
      , kolkata
      Reviewed on Oct 29, 2015
    • Indian Bank Fixed Deposit
      "Very good"
      0.5 5.0/5 "Blown Away!"
      INDIAN FD is fine my feedback for them is it is really nice and the bank next to my place . This is my first account so I have opened this FD and I am holding this FD for a period of 8 to 9 months. The interest rate offered by them is the best in the market and I have got this FD certificate on time.
      Was this review helpful? 5
      , madurai
      Reviewed on Sep 25, 2015
    • Indian Bank Fixed Deposit
      "Need to be categorized.."
      0.5 3.0/5 "Satisfactory"
      Indian bank is a nationalized bank and easy to access but visiting the branch is very difficult as their services are not systematic. If we go the branch we need to stand in a queue to get things done. Also the net banking is not categorized. For my Fixed Deposit the rate of interest is 8.65% and it is of simple rate.
      Was this review helpful? 2
      , hosur
      Reviewed on Aug 27, 2015
    • Indian Bank Fixed Deposit
      "They know how to take care of their customers"
      0.5 4.0/5 "Great!"
      I have a fixed deposit account with Indian Bank. The services has been good for this. They know how to take care of their customers. They offer a good rate of interest. It is of 8.5%. If I withdraw my money before the maturity term, they would not charge any penalty fee. I have this account for the last seven month with them. They know how to take care of their customers.
      Was this review helpful? 3
      , bhubaneshwar
      Reviewed on Jul 25, 2015
    • Indian Bank Fixed Deposit
      "Good"
      0.5 5.0/5 "Blown Away!"
      Interest rate offered for the Fixed deposit plan is 8.5% from Indian bank in which the minimum lock in period is one year. In case the tenure is increase then the interest rate will be reduced. In case if we break the rd in between the tenure there will be no extra charges. We will receive a message once the plan is been matured.In case we want to renewal the plan we have to visit the bank. The minimum amount is Rs.5000 to start the FD plan.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jul 24, 2015
    • Indian Bank Fixed Deposit
      "Indian Bank Fixed Deposit"
      0.5 1.5/5 "Bad"
      I did the fixed deposit manually at Indian Bank Sukrawarpet Coimbatore branch. Being a Government bank the customer service is pathetic. The interest rate is reduced from 8.75 to 8.5. To save the tax provide the PAN card number. The procedure to apply the fixed deposit manually is simple. Go to the branch, get the fixed deposit form. Fill the form. Handover to the bank employee. The money will be deducted from your bank account. After the money is deducted, the bank employee will handover a fixed deposit certificate to you. After the maturity, go back to the bank with the fixed deposit certificate, to get back the cash. The cash will be deposited in your bank account.
      Was this review helpful? 13
      , coimbatore
      Reviewed on Jun 05, 2015
    • Indian Bank Fixed Deposit
      "Fabulous"
      0.5 5.0/5 "Blown Away!"
      Indian Bank Fixed deposit service is very good. I hold an account with Indian Bank. I have visited the Branch for opening an account with them and it took about 30 minutes of time to open this account. Any time when ever I want I can break it. I have got the FD Deposit certificate as well.
      Was this review helpful? 6
      , chennai
      Reviewed on May 18, 2015
    • Indian Bank Fixed Deposit
      "Interest on fixed deposit"
      0.5 3.5/5 "Pretty good"
      I have a saving account with Indian bank where I keep opening short term fixed deposits as it provides a very attractive interest rate even on short term deposit, for eg on a short term deposit of 6months it gives interest at the rate of 8.5% , for 3 months it gives an interest rate of 8%.
      Was this review helpful? 2
      , mumbai
      Reviewed on Dec 04, 2014
    • Indian Bank Fixed Deposit
      "Quite good!!!!!!!!!"
      0.5 2.5/5 "Just OK"
      I am having fixed deposit with Indian bank wherein I am investing small amount monthly . I am getting interest rates as profit. It was good to have public sector with us in future. Overall I am very much satisfied by the service
      Was this review helpful? 5
      , delhi
      Reviewed on Sep 23, 2014
    • Indian Bank Fixed Deposit
      "My FD with Indian bank"
      0.5 4.5/5 "Excellent!"
      Three years ago I have created my fixed deposit with Indian bank considering the bank is very close my house and the rate of interest was very much competitive when compared to other banks in the market. Indian bank have a pretty good customer service and the response was also too good.
      Was this review helpful? 7
      , mumbai
      Reviewed on Aug 18, 2014
    • Indian Bank Fixed Deposit
      "Good to have in locker facility"
      0.5 5.0/5 "Blown Away!"
      I availed fixed locker from Indian bank. To avail the locker facility I forced to have Fixed deposit Rs.50000.Locker is required to keep jewels . Customer service was good. No suggestions for them to improve their services as they already doing good.
      Was this review helpful? 6
      , chennai
      Reviewed on Aug 12, 2014
    • Indian Bank Fixed Deposit
      "Vey good service"
      0.5 4.0/5 "Great!"
      Last one year I am maintaining a fixed deposit with Indian bank. It was very easy for me to create the FD because I am a member of the bank. It is a government bank and I don't have any problem. Employees of the bank keep changing frequently however their policies and procedure never change. I have an experience of taking a educational loan in the past which was a great experience. They have given the rate of interest as per RBI guidelines however they don't charge any pre-closure charges and processing fees for loans.
      Was this review helpful? 6
      , chennai
      Reviewed on Aug 07, 2014
    Common Loader Icon
     Loading your search... Loading your search...
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.