• South Indian Bank Fixed Deposit Rates

    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. 2 crore are as follows:

    Tenure Regular Interest Rate (p.a.) Senior Citizen Interest Rate (p.a.)
    7 days to 45 days 3.50% 4.00%
    46 days to 90 days 3.75% 4.25%
    91 days to 180 days 3.80% 4.30%
    181 days to 270 days 4.10% 4.60%
    271 days to less than 1 year 4.50% 5.00%
    1 year to less than 3 years 5.40% 5.90%
    3 years to less than 5 years 5.50% 6.00%
    5 years 5.65% 6.15%
    Above 5 years to up to and including 10 years 5.50% 6.00%

    Note:

    • The interest rates mentioned above are applicable from 21 July 2021.
    • 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 5.65% 6.15%

    South Indian Bank NRI Term Deposit rates:

    South Indian Bank NRE FD Rates for Below Rs.2 crore

    Period Interest Rate (p.a.)
    1 year to less than 3 years 5.40%
    3 years to less than 5 years 5.50%
    5 years 5.65%
    Above 5 years to up to and including 10 years 5.50%

    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: Under Rs.2 crore

    Tenure Regular Interest Rate (p.a.) Senior Citizen Interest Rate (p.a.)
    7 days to 45 days 3.50% 4.00%
    46 days to 90 days 3.75% 4.25%
    91 days to 180 days 3.80% 4.30%
    181 days to 270 days 4.10% 4.60%
    271 days to less than 1 year 4.50% 5.00%
    1 year to less than 3 years 5.40% 5.90%
    3 years to less than 5 years 5.50% 6.00%
    5 years 5.65% 6.15%
    Above 5 years to up to and including 10 years 5.50% 6.00%

    Note: The interest rates mentioned above are applicable from 01 October 2021.

    South Indian Bank FCNR Term Deposit Rates

    Maturity period/Currency USD GBP EUR AUD CHF JPY CAD
    1 Year to less than 2 Year 0.84% 1.04% 0.07% 0.25% 0.00% 0.16% 0.61%
    2 Year to less than 3 Year 1.05% 1.39% 0.11% 0.46% 0.00% 0.18% 1.07%
    3 Year to less than 4 Year 1.28% 1.44% 0.15% 0.70% 0.00% 0.18% 1.34%
    4 Year to less than 5 Year 1.51% 1.53% 0.18% 0.98% 0.13% 0.19% 1.53%
    5 Year 1.69% 1.58% 0.20% 1.18% 0.18% 0.25% 1.66%

    Note:

    • Premature closure of the deposits will not be penalized.
    • For deposit closure within 366 days, interest will not be paid.

    Features & Benefits of South Indian Bank Fixed Deposits:

    1. The interest calculated is paid quarterly.
    2. Both short-term, as well as long-term investment schemes, are available.
    3. Periodic withdrawal of interest or transferring it to another account is allowed.
    4. The depositor can give FD auto-renewal instructions.
    5. Tenure for deposit can vary from 15 days to 10 years.

    Documents Required:

    1. Passport size photographs.
    2. Identity proof: Aadhar card, Passport, etc.
    3. Address proof: Ration card, Voter’s card, etc.
    4. PAN card.
    5. An application form with details and signature.

    Types of South Indian Bank Fixed Deposit Schemes:

    1. 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
    2. 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.
    3. SIB Tax Gain 2006: This scheme allows the depositor to avail tax benefits under Section 80C oof the Income Tax Act.
    4. Fast Cash Deposit: These deposits are for a short period of time with auto-renewal options.
    5. 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

    The depositor having an FD at the South Indian Bank can avail a loan of up to 90% of the deposited amount.

    Nomination Facility on South Indian Bank FD

    Nomination facility is available for the South Indian Bank FD account. This facility allows the depositor’s family to avail the FD benefits in case he dies.

    South Indian Bank Premature Withdrawal Facility

    The SIB gives the customers to prematurely withdraw the FD with some penalty charges.

    FAQs on South Indian Bank Fixed Deposit Rates

    1. 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.

    2. What is the minimum deposit amount?

      The minimum deposit amount for South Indian Bank is Rs.1000.

    3. What is the special rate of interest for senior citizens?

      The senior citizens get an additional interest benefit of 0.50%.

    4. 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.

    5. Can you alter the tenure of an existing FD account?

      You cannot change the tenure of the FD at South Indian Bank, once invested.

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    South Indian Bank Fixed Deposit Reviews

    • South Indian Bank
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had a fixed deposit with the South Indian Bank. There is nothing special about the service. The interest they offer for the deposit is low. It is so easy to start a fixed deposit. Overall it has been a good experience with the fixed deposit. Staff were cooperative and very much helpful
      Was this review helpful? 3
      , mumbai
      Reviewed on Jun 27, 2018
    • South Indian Bank
      South Indian Bank
      "Good service "
      0.5 5.0/5 "Blown Away!"
      I am using a fixed deposit service for last 12years and the do provide interest around 8.75% for the fixed deposit.I revceive a mail asking whether the renewal is needed or not through which I can renew the amount.I am getting the details about the maturity in frequent manner from South Indian bank related to the fixed deposit.
      Was this review helpful? 2
      , chennai
      Reviewed on Jun 22, 2016
    • South Indian Bank
      "Wonderful"
      0.5 5.0/5 "Blown Away!"
      I do have the fixed deposit with the South indian bank and the interest rate is around 8%. I am having this deposit from 1985 onwards and the customer service is very well, also the response is good with the South Indian bank.
      Was this review helpful? 4
      , bangalore
      Reviewed on Feb 05, 2016
    • South Indian Bank
      "MOHIT"
      0.5 3.5/5 "Pretty good"
      Hi this bank is providing best interest rates then other bank. I have deposit for 400 days on 9.15. current days while most of the banks are providing rate of interest below 9 like 8.75 by hdfc , 8 by icici , 8.50 by SBI , south indian bank still providing above 9 %. I like it most.
      Was this review helpful? 8
      , ghaziabad
      Reviewed on Dec 30, 2014
    • South Indian Bank
      "South Indian Bank Term Deposit"
      0.5 5.0/5 "Blown Away!"
      I have taken term deposit from south indian bank @ 9.15% for 50000/-. I am satisfy with that rate. Customer service of this bank is higher compare to other banks. They are providing quick response for the same. I would like to recommend this bank to other customer
      Was this review helpful? 2
      , rajkot
      Reviewed on Dec 28, 2014
    • South Indian Bank
      "BEST INTEREST RATE"
      0.5 5.0/5 "Blown Away!"
      The South Indian Bank is a new generation private sector bank with all the facilities /value added facility at comparatively economically priced. The fixed deposit interest rate mostly remains high. Currently they are offering as high as 9.65% for senior citizen for 15 months and 9.15% for others. The interest is credited quarterly and compounded there on
      Was this review helpful? 7
      , cuttack
      Reviewed on Dec 26, 2014
    • South Indian Bank
      "Beneficial but needs improvement"
      0.5 3.0/5 "Satisfactory"
      I opted for a fixed deposit in South Indian bank as I have a savings account with them. The services was good but the customer support must be impoved a lot. The total tenure I applied for the fixed deposit is for 400 days where they offer a interest rate of 9.5%. They have informed that the interest amount is Rs.11000 to Rs.12000 for Rs.100000.
      Was this review helpful? 3
      , chennai
      Reviewed on Dec 10, 2014
    • South Indian Bank
      "Good experience"
      0.5 3.0/5 "Satisfactory"
      I was holding a fixed deposit with South Indian bank for about 1 year. Actually the branch of the bank is very close to my house and I felt very convenient banking with them. They offered me a normal interst rate of 9.25%. Only one problem is the documents of the FD was not issued to me on the same day and it took some time. I think the rate of interest is slightly better than other banks however I don't recommend the bank as there are so many new generation banks have come into picture.
      Was this review helpful? 1
      , kochi
      Reviewed on Oct 24, 2014
    • South Indian Bank
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I did not put any extra efforts to open this FD account, as I am a employee of the South Indian Bank. The response I get from this team is awesome as I get a mail or a text message from them stating that my deposit is going to get matured, I get this message before 5 days in advance and if at all there is an change to be made on the tenure or with the amount all I have do is just send a mail confirming that its that simple.
      Was this review helpful? 0
      , pondicherry
      Reviewed on Oct 06, 2014
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