South Indian Bank Fixed Deposit Rates 2025
South Indian Bank (SIB) is a premier private sector bank that is based out of Thrissur in Kerala. With South Indian Bank fixed deposits (FDs), investors are spoiled for choice. There is a long list of plans that a customer can apply for.
The options include SIB Flexi Smart Deposit, Kalpakanidhi, SBI Flexi Deposit, SIB Tax Gain 2006, regular FDs and Fast Cash Deposits.
South Indian Bank Fixed Deposit Interest Rates
South Indian Bank Domestic deposit interest rates for amount less than Rs. 3 crore are as follows:
Tenure | For General Public (p.a.) | For Senior Citizens (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 | 5.50% | 6.00% |
101 days to 180 days | 4.50% | 5.00% |
181 days to less than 1 year | 5.00% | 5.50% |
1 year | 6.70% | 7.20% |
1 year 1 day | 7.00% | 7.50% |
1 year 2 days to 399 days | 6.50% | 7.00% |
400 days | 7.25% | 7.75% |
401 days to less than 30 months | 6.50% | 7.00% |
30 months | 7.00% | 7.50% |
Above 30 months to less than 5 years | 6.70% | 7.20% |
5 years to less than 66 months | 6.00% | 6.50% |
66 months (Green deposit) | 6.50% | 7.00% |
Above 66 months to upto and including 10 years | 6.00% | 6.50% |
Tax Gain ( 5 Years ) | 6.00% | 6.50% |
- Note: The interest rates mentioned above are applicable from 11 April 2024.
- Only the senior citizens residing in India can avail the benefits of special interest rates.
- The premature withdrawal of deposits will be penalized at 0.5% interest rate for amounts below Rs.15 lakhs and 1% interest rate for amounts above Rs. 15 lakhs.
South Indian Bank Tax Saver FD Rates
The SIB has an FD scheme named 'SIB Tax Gain Deposit' which gives the depositor tax relaxations under Section 80C of the Income Tax Act. The interest rates for the tax-saving FD scheme are as follows:
Tenure | Regular Interest Rate (p.a.) | Senior Citizen Interest Rate (p.a.) |
5 years | 6.00% | 6.50% |
South Indian Bank NRI Term Deposit Rates:
South Indian Bank NRE FD Rates for Below Rs.3 crore
Tenure | Interest Rates (p.a.) |
1 year | 6.70% p.a |
1 year 1 day | 7.00% p.a |
1 year 2 days to 399 days | 6.50% p.a |
400 days | 7.25% p.a |
401 days to less than 30 Months | 6.50% p.a |
30 Months | 7.00% p.a |
Above 30 months to less than 5 years | 6.70% p.a |
5 years to less than 66 months | 6.00% p.a |
66 months (Green deposit) | 6.50% p.a |
Above 66 months to upto and including 10 years | 6.00% p.a |
Note:
- Any revision in rates will be applied while renewing matured deposits and on fresh deposits.
- In case of closure within 1 year, no interest will be paid.
- The senior citizens will not get any additional interest benefit under this scheme.
- The premature withdrawal of the term deposit will not be penalised.
South Indian Bank NRO Term Deposit Rates (Below Rs. 3 Crore)
Tenure | Interest Rates (p.a.) |
7 days to 30 days | 2.90% |
31 days to 90 days | 3.50% |
91 days to 99 days | 4.50% |
100 days | 5.50% |
101 days to 180 days | 4.50% |
181 days to less than 1 year | 5.00% |
1 year | 6.70% |
1 year 1 day | 7.00% |
1 year 2 days to 399 days | 6.50% |
400 days | 7.25% |
401 days to less than 30 months | 6.50% |
30 months | 7.00% |
Above 30 months to less than 5 years | 6.70% |
5 years to less than 66 months | 6.00% |
66 months (Green deposit) | 6.50% |
Above 66 months to upto and including 10 years | 6.00% |
Note: The interest rates mentioned above are applicable from 11 April 2024.
South Indian Bank FCNR Term Deposit Rates
Maturity period/Currency | USD | GBP | EUR | AUD | CHF | JPY | CAD | |
Amount | Up to and including Rs.5 lakh | Above Rs.5 lakh |
|
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1 Year to less than 2 Year | 5.70% | 6.00% | 4.00% | 3.00% | 4.20% | 0.05% | 0.20% | 3.50% |
2 Year to less than 3 Year | 4.65% | 4.65% | 3.75% | 2.00% | 3.50% | 0.00% | 0.20% | 3.50% |
3 Year to less than 4 Year | 3.75% | 3.75% | 2.45% | 1.00% | 3.00% | 0.00% | 0.05% | 3.15% |
4 Year to less than 5 Year | 3.00% | 3.00% | 2.45% | 1.00% | 3.20% | NA | 0.05% | 3.20% |
5 Year | 3.00% | 3.00% | 2.45% | 1.00% | 3.45% | NA | 0.05% | 3.25% |
Note:
- Premature closure of the deposits will not be penalized.
- For deposit closure within 365 days, interest will not be paid.
Features and Benefits of South Indian Bank Fixed Deposits
- The interest calculated is paid quarterly.
- Both short-term, as well as long-term investment schemes, are available.
- Periodic withdrawal of interest or transferring it to another account is allowed.
- The depositor can give FD auto-renewal instructions.
- Tenure for deposit can vary from 15 days to 10 years.
Documents Required for South Indian Bank Fixed Deposit
- Passport size photographs.
- Identity proof: Aadhar card , Passport, etc.
- Address proof: Ration card, Voter's card, etc.
- PAN card.
- An application form with details and signature.
Types of South Indian Bank Fixed Deposit Schemes:
- SIB Flexi Smart Deposit: The SIB Flexi Smart Deposit account is directly connected to your Certificate of Deposit (CD) account. Minimum deposit amount is Rs. 50,000 and maximum is Rs. 1 crore
- Kalpakanidhi: In this scheme, the compound interest is calculated on a quarterly basis and there is a provision of auto-renewing the scheme once matured. The period for this FD ranges from 6 months to 10 years.
- SIB Tax Gain 2006: This scheme allows the depositor to avail tax benefits under Section 80C oof the Income Tax Act.
- Fast Cash Deposit: These deposits are for a short period of time with auto-renewal options.
- Fixed Deposit: This deposit scheme has both short-term investment as well as long-term investment option with tenure varying from 15 days to 10 years.
South Indian Bank Loan Against FD
You can avail yourself of a loan against fixed deposit up to 90% of the deposited amount.
Nomination Facility on South Indian Bank FD
- You can avail yourself of a nomination facility for fixed deposit at South Indian Bank.
- However, the nomination facility cannot be availed in case of minor applicants.
South Indian Bank Premature Withdrawal Facility
- A penalty will be charged on premature closure of fixed deposit at South Indian Bank.
- For deposits below Rs.5 lakh, a penalty of 0.50% will be charged.
- For deposits above Rs.5 lakh, a penalty of 1% will be charged.
- Interest will be paid after deducting the penalty amount.
The SIB gives the customers to prematurely withdraw the FD with some penalty charges.
FD Calculator for South Indian Bank Fixed Deposit
You can use the fixed deposit calculator offered by BankBazaar to get accurate maturity amount and interest earned on FD at South Indian bank for different tenures. This will help you to compare different FD options and choose the one which suits you.
Follow the steps given below to use BankBazaar FD calculator:
Step 1: Visit https://www.bankbazaar.com/fixed-deposit/fd-calculator.html
Step 2: Fill the amount you wish to deposit and tenure, along with the interest rate offered by bank.
Step 3: Click on ‘Calculate’ tab.
Step 4: Check the result.
FAQs on South Indian Bank Fixed Deposit Rates
- What is the lowest rate of interest on FD schemes by the South Indian Bank?
The lowest rate of interest with South Indian Bank is 3.50% for amount below Rs. 2 crore.
- What is the minimum deposit amount?
The minimum deposit amount for South Indian Bank is Rs.1000.
- What is the special rate of interest for senior citizens?
The senior citizens get an additional interest benefit of 0.50%.
- Who can open FD account with South Indian Bank?
Both the account holders as well as non-account holders can open an FD account with SIB.
- Can you alter the tenure of an existing FD account?
You cannot change the tenure of the FD at South Indian Bank, once invested.
- Will I be charged a penalty for withdrawing a fixed deposit prematurely at South Indian Bank?
Yes, you will be charged a penalty for withdrawing a fixed deposit prematurely at South Indian Bank.
- Is PAN card mandatory for opening an FD at South Indian Bank?
Yes, PAN card is a mandatory document for opening an FD at South Indian Bank.
- Is there any lock-in period for fixed deposit at South Indian Bank?
Yes, fixed deposit at South Indian Bank comes with a lock-in period of five years.
- What is the penalty rate charged for premature closure of the FD above Rs.5 lakhs?
A penalty of 1% of the deposited amount is charged for premature closure of the FD above Rs.5 lakhs.
- What is the penalty rate charged for premature closure of the FD below Rs.5 lakhs?
A penalty of 1% of the deposited amount is charged for premature closure of the FD below Rs.5 lakhs.
- Is nomination facility available on FD at South Indian Bank?
Yes, you can avail yourself of a nomination facility on FD at South Indian Bank.
- Is loan against FD available at South Indian Bank?
Yes, you can avail yourself of a loan against FD at South Indian Bank.
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