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Indian Bank Recurring Deposit Interest Rates- 23 Jul 2019

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Indian Bank Recurring Deposit is ideal for first-time risk-averse investors. You can open a recurring deposit account for a tenure ranging from 6 months to 1 year. The interest rate you can earn ranges from 5.50% p.a. to 7.40% p.a. You can open an RD account with Indian Bank with an amount as low as Rs.25.

Period Interest Rate (Less than Rs.2 crore) Interest Rate (Rs.2 crore to Rs.5 crore) Interest Rate for Senior Citizens (Less than Rs.2 crore) Interest Rate for Senior Citizens (Rs.2 crore to Rs.5 crore)
180 days 6.50% p.a. 6.25% p.a. 7% p.a. 6.75% p.a.
181 days to less than 9 months 6.50% p.a. 6.25% p.a. 7% p.a. 6.75% p.a.
9 months to less than 1 year 6.50% p.a. 6.25% p.a. 7% p.a. 6.75% p.a.
1 year 6.75% p.a. 6.50% p.a. 7.25% p.a. 7% p.a.
Above 1 year to less than 2 years 6.60% p.a. 6.35% p.a. 7.1% p.a. 6.85% p.a.
2 years to less than 3 years 6.50% p.a. 6.25% p.a. 7% p.a. 6.75% p.a.
3 years to less than 5 years 6.75% p.a. 6.50% p.a. 7.25% p.a. 7% p.a.
5 years 6.90% p.a. 6.65% p.a. 7.4% p.a. 7.25% p.a.
Above 5 years 6.50% p.a. 5.50% p.a. 7% p.a. 6% p.a.

Benefits of Indian Bank Recurring Deposit

  • Deposit tenure ranges from 6 months to 120 months
  • A variety of deposit schemes to choose from
  • Enjoy an interest rate of up to 7.40% p.a.
  • Life insurance cover available
  • Nomination and loan facilities available
  • Better rates for senior citizens

Types of RD Accounts in Indian Bank Portfolio

  • Insured Recurring Deposit: Other than earning interest on your investment, this RD scheme also offers life insurance cover. You can open the account with a minimum amount of Rs.100 for a period ranging from 3 years to 5 years.
  • Variable Recurring Deposit: With this scheme, you have the flexibility to vary the monthly instalments. You can open this account with a minimum amount of Rs.25 or a maximum of Rs.1 lakh. No penalties are imposed if there’s any delay in instalments.

Indian Bank Recurring Deposit Calculator

The maturity amount on your RD depends on various factors, including the tenure, amount, rate of interest, among others. It’s always recommended to calculate the interest you can earn on your deposited amount so that you can make adjustments to the tenure or amount accordingly. There are quite a few online portals that offer RD calculators. You can use any one of those to calculate the interest you can earn on your deposited amount.

Indian Bank Recurring Deposit is a low-risk investment option that lets you earn decent interest over a specific period of time. Though you have the option to break an RD before the maturity period, doing so may hurt the interest you could have earned at the end of the tenure.

Indian Bank Senior Citizen RD Interest Rates

Indian Bank offers attractive rates of interest to senior citizens when they invest money with the bank via a recurring deposit account. An additional interest is given on top of the normal recurring deposit rates in case of senior citizens.

Indian Bank NRE Recurring Deposit Interest Rates

NRI’s can open an Indian Bank RD account as well for a minimum of 1 year and maximum 10 years. The interest rate that NRI’s earn on their short- term recurring deposits of less than Rs.1 crore ranges between 6.50% percent and 7.25% percent per annum and on short- term deposits of Rs.1 crore to Rs.5 crores, they earn 7 percent per annum.

On their medium term and long term recurring deposits of less than Rs.1 crore, they can earn an interest of 7.25 percent per annum and on medium term and long term deposits of Rs.1 crore to Rs.5 crores, they can earn an interest rate of 7 percent per annum.

More you need to know about Recurring Deposit

Indian Bank RD Schemes

Read More Articles On RD

News About Indian Bank Recurring Deposit

  • Indian Bank Has Revised Their Foreign Currency Non-resident (Banking) Term Deposits Interest Rates

    Effective from 01st August 2017, Indian Bank has revised their interest rates on FCNR(B) deposits. According to the recent statement from the bank, the interest rates for FCNR(B)(in US Dollars) for a tenure of more than 1 year but less than 2 years has been increased to 2.45% p.a which was 2.43% p.a previously.

    Also, for deposit tenure ranging from 2 years and above to less than 3 years, the interest rate is 2.60% p.a and for deposit tenure more than 3 years but less than 4 years, the interest rate is 2.75% p.a.

    The interest rate remains unchanged for deposit tenures for four years and above 5 years which is 2.86% p.a. If you are banking with Indian Bank, please look for the revised interest rates on deposits, including recurring deposit accounts.

    14 August 2017

  • Change in Indian Bank RD Interest Rates

    Indian Bank has recently changed Recurring Deposit interest rates. After the change, the interest rate for a deposit of less than Rs.1 crore for a tenure of 6 months to below 2 years ranges between 5.75% p.a. and 6.25% p.a. The interest rate for deposits of Rs.1 crore to Rs.5 crores for the same tenure ranges between 5.25% p.a. and 5.75% p.a.

    The bank has also changed the interest rates of medium and long term recurring deposits. The interest rate for deposits of less than Rs.1 crore for a tenure of over 2 years to more than 3 years is 6.25% p.a. and the interest rate for deposits of Rs.1 crore to Rs.5 crores for the same tenure is 5.5% p.a.

    1 December 2016

  • Indian Bank Releases Revised Recurring Deposit Rates

    Indian bank has revised the interest rates offered for their recurring deposits. The interest rates offered for various tenures have been revised irrespective of whether the deposit amount is less than Rs. 1 Crore or ranging between Rs. 1 Crore to Rs. 5 Crore. The interest rates have been increased across most tenures below the 1 year mark. While there is a general increase in interest rates offered for tenures below 1 year such as 14 days or 30 days with a marked increase in interest rate from existing 4.50% p.a. to the now effective 5.50% p.a. the tenure for 1 year has had its interest rate reduced from 7.40% p.a. to 7.25% p.a. Senior citizens will enjoy an additional 0.50% interest rate upon the prevailing interest rates.

    17 August 2016

  • Indian Bank Introduces Few Changes for Recurring Deposit Tenures and Interest Rates

    Indian Bank Recurring Deposit has been one of the most preferred investment products amongst the risk averse investors. Recently, Indian Bank has made some changes in Recurring Deposit tenures and have revised the interest rates which makes the product all the more better. The RD scheme in Indian Bank is offered in two categories - one for deposits below Rs. 1 crore and one for deposits of Rs. 1 crore to Rs. 5 crores. As per the revision, the tenures have been split to 6 time periods - up to 6 months, 6 months to 9 months, 9 months to 1 year, 1 year to 2 years, 2 years to 3 years and above 3 years. For investments below Rs.1 crore, the interest rate for tenures up to 6 months is 6.50% per annum and 7.00% per annum for tenure greater than 6 months to up to 9 months. For all other tenure options, the interest rate remains fixed at 7.25% per annum.

    For recurring deposit investments varying between Rs. 1 crore to Rs. 5 crores, he interest rate for tenures up to 6 months is 6.50% per annum and for tenure greater than 6 months to up to 9 months 6.75% per annum. For all other tenure options, the interest rate remains fixed at 7.00% per annum.

    2 March 2016

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Indian Bank RD Rates Reviews

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  • Indian Bank Recurring Deposit
    "Good Investment"
    INDIAN BANK
    0.5 5.0/5 "Blown Away!"
    In Indian Bank RD interest rate is more than 6.5% for per annum, it has minimum tenure of one year then I can prolong the recurring deposit duration upto three years. I can make the payment through online or atm, they have lots of facilities, its really good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Feb 21, 2019
  • Indian Bank
    Indian Bank Recurring Deposit
    "Good Investment"
    INDIAN BANK
    0.5 5.0/5 "Blown Away!"
    In Indian Bank RD interest rate is more than 6.5% for per annum, it has minimum tenure of one year then I can prolong the recurring deposit duration upto three years. I can make the payment through online or atm, they have lots of facilities, its really good.
    Was this review helpful? 2
    , bangalore
    Reviewed on Feb 21, 2019
  • Indian Bank Recurring Deposit
    "INDIAN bank RD"
    INDIAN BANK
    0.5 5.0/5 "Blown Away!"
    INDIAN bank has got the lowest processing fee for any product. since I am staff of that particular bank I get a privileged interest rate 1% on top of the normal one. As I told with the help of mobile app I can do the deposits online too and there is no need for me to visit the branch for any deposits, it can be opened online and can be closed online too.
    Was this review helpful? 6
    , chennai
    Reviewed on Jan 17, 2017
  • Indian Bank Recurring Deposit
    "Its okay"
    INDIAN BANK
    0.5 5.0/5 "Blown Away!"
    Presently, I had invested with INDIAN Bank RD as their scheme is the best and interesting. I like their services very much, the amount will get credit ted to my account immediately soon as the amount gets matured it would be transferred to my account instantly. Interest rate what they had offered was very good and this RD was opened at the Branch.
    Was this review helpful? 6
    , pune
    Reviewed on Nov 03, 2016
  • Indian Bank Recurring Deposit
    "Just okay"
    INDIAN BANK
    0.5 2.0/5 "Expected more"
    I have the recurring deposit account with the Indian Bank and the interest rate was around 9% per annum. Customer service is not up to the mark because they are nationalized bank. Net banking facilities are good with them and their turn around to time to resolve any issues will take three days of time.
    Was this review helpful? 4
    , chennai
    Reviewed on Feb 09, 2016
  • Indian Bank Recurring Deposit
    "Nice service "
    INDIAN BANK
    0.5 5.0/5 "Blown Away!"
    I do maintain the recurring deposit with Indian Bank and the service provided was really good.They also provide nice service to the customer.They apply interest rate around 8.9% for the account.I have been using the account for 2years depositing for recurring.
    Was this review helpful? 3
    , bangalore
    Reviewed on Oct 09, 2015
  • Indian Bank Recurring Deposit
    "Average"
    INDIAN BANK
    0.5 3.0/5 "Satisfactory"
    I had the recurring deposit with the Indian Bank. I opened this account through online and I opened this with small capital and I withdrawn it within 3 months of time and I got some interest rate. They have not penalized anything for that before withdrawn the minimum locking of 2 years.
    Was this review helpful? 3
    , chennai
    Reviewed on Sep 12, 2015
  • Indian Bank Recurring Deposit
    "Good"
    INDIAN BANK
    0.5 3.0/5 "Satisfactory"
    Rate of interest is normal like other bank for Recurring deposit where providing 8.5% to 9% depending on tenure. I am expecting Indian bank to increase the rate of interest for RD if so I will be very glad. Service and response is good. On whole satisfied with Indian bank.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Dec 20, 2014
  • Indian Bank Recurring Deposit
    "Its a flexible one"
    INDIAN BANK
    0.5 5.0/5 "Blown Away!"
    It is called as a flexible RD and I am holding a Indian Bank Recurring deposit any time if I want I can deposit and how many ever times I want there is no restriction the maximum limit is 10 lakhs and minimum is Rs 50 and I am happy with the rate of interest and overall its good.
    Was this review helpful? 5
    , kolkata
    Reviewed on Jun 21, 2014
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