Indian Bank Fixed Deposit 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 (FDs) or Term Deposits for rewarding interest rates and high returns.

The interest rate for fixed deposits below Rs.2 crore ranges from 3.05% p.a. to 5.40% p.a. as of 6 June 2020. The range of maturity period is 7 days to more than 5 Years. In case of FDs above Rs.2 crore, Indian Bank offers a best FD rate of 4.50% p.a. for a tenure of 1 year. For senior citizens, the Bank offers an additional interest rate of 0.50% p.a. more for deposits of up to Rs.10 crore.

Fixed Deposit Rates in Indian Bank

The Interest rate associated with Indian Bank FDs varies depending on the tenure. The bank offers multiple tenure options ranging from 7 days to 10 years.

  • Indian Bank offers short-term FD rates with tenures ranging from 7 days to 1 year. For deposits below Rs.2 crore, the interest rate ranges from 3.05% p.a. to 4.50% p.a. The highest interest rates on these FDs is 4.50% p.a. for tenures less than 1 year. For deposits above Rs.2 crore, the interest rate for short-term deposits ranges from 3.05% p.a. to 3.50% p.a. with the highest interest rate being for the tenure of 1 year at 3.50% p.a.
  • Indian Bank’s medium-term fixed deposit rates are for tenures that range from 1 year to 5 years. The interest rate for deposits less than Rs.2 crore ranges from 5.40% p.a. to 5.50% p.a. The highest interest rate of 5.50% p.a. is for the 1-year tenure. For deposits above Rs.2 crore, the interest rate ranges from 4.40% p.a. to 4.50% p.a. with the highest interest rate of 4.50% p.a. being for the 1-year tenure.
  • The long-term FD rate is 5.40% p.a. for a maturity period of more than 5 years for deposits less than Rs.2 crore. For deposits above Rs.2 crore, the interest rate is 4.40% p.a. for this tenure.
  • For senior citizens, the FD rates on Indian Bank deposits is set at 0.50% more than the regular FD rates. For deposits below Rs.2 crore, the highest rate on short-term fixed deposits lies at 5.00% p.a., while the highest rates offered on the medium-term FD is 6.00% p.a., and for the long-term FD, it is 5.90% p.a. For deposits above Rs.2 crore for senior citizens, the highest interest rate for the short-term FD is 4.00% p.a., for medium-term deposits is 5.00% p.a., and for long-term deposits is 4.90% p.a.

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 3.05% 3.45%
15 to 29 days 3.25% 3.75%
30 to 45 days 3.25% 3.75%
46 to 90 days 3.25% 3.75%
91 to 120 days 4.00% 4.50%
121 to 180 days 4.00% 4.50%
181 days to less than 9 months 4.50% 5.00%
9 months to less than 1 year 4.50% 5.00%
1 year 5.50% 6.00%
1 year 1 day to less than 2 years 5.40% 5.90%
2 years to less than 3 years 5.40% 5.90%
3 years to less than 5 years 5.40% 5.90%
5 years 5.40% 5.90%
Above 5 years 5.40% 5.90%

*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 6 June 2020.

Indian Bank FD Interest Rates: Rs.2 crore to Rs.5 crore

Tenure Bracket Regular FD rates (p.a.) Senior Citizens FD rates (p.a.)
7 to 14 days 3.05% 3.55%
15 to 29 days 3.05% 3.55%
30 to 45 days 3.05% 3.55%
46 to 90 days 3.05% 3.55%
91 to 120 days 3.00% 3.50%
121 to 180 days 3.00% 3.50%
181 days to less than 9 months 3.50% 4.00%
9 months to less than 1 year 3.50% 4.00%
1 year 4.50% 5.00%
1 year 1 day to 2 years 4.40% 5.90%
2 years to less than 3 years 4.40% 5.90%
3 years to less than 5 years 4.40% 5.90%
5 years 4.40% 5.90%
Above 5 years 4.40% 5.90%

*The Indian Bank FD rates tend to change at the discretion of the bank. The rates of interest mentioned here are valid as of 6 June 2020.

IB Tax Saver Scheme 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 5.40% 5.90%

*The IB Tax Saver FD rates are subject to change as per the discretion of the bank. The rates mentioned are valid as of 6 June 2020.

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.)
12 months 5.50% 4.50%
12 months to less than 24 months 5.40% 4.40%
24 months to less than 36 months 5.40% 4.40%
3 years to less than 5 years 5.40% 4.40%
5 years 5.40% 4.40%
More than 5 years 5.40% 4.40%

*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 6 June 2020.

**Senior citizens are not eligible for any additional interest.

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