For deposits below Rs.1 crore
|Tenure||Interest Rates||Interest rates for Senior citizens|
|181 to less than 9 months||7||7.5|
|9 months to less than 1 Year||7.25||7.75|
|1 year to < 2 Years||7.25||7.75|
|2 years to < 3 Years||7.25||7.75|
|3 years and above||7||7.5|
For deposits of Rs.1 crore to Rs.5 crores
|181 to less than 9 months||6.75|
|9 months to less than 1 Year||6.75|
|1 year to < 2 Years||6.75|
|2 years to < 3 Years||6.75|
|3 years and above||6.5|
Get the Highest Interest Rates on Indian Bank Recurring Deposit
The deposit schemes offered by Indian Bank are among the popular ones in India as they provide higher rates of interest to the depositors. Through its recurring deposit accounts, people benefit a lot as they get to save and earn money, at the same time. People can deposit money in their RD accounts for a minimum of 6 months and after that in multiples of 3 months for a maximum of 10 years. They can deposit a minimum of Rs.5 and thereafter in multiples of the same.
Indian Bank Short-Term RD Interest Rates
Indian Bank customers have the option of opening a recurring deposit account for a short- term period. A short- term recurring deposit account with Indian Bank can be opened for a period of 6 months to less than 2 years. The interest rate offered by the bank to its depositors on short- term deposits less than Rs.1 crore ranges between 7.00% percent and 7.25 percent per annum and for deposits worth Rs.1 crore to Rs.5 crores, the interest rate is 6.75% annum.
Indian Bank Medium and Long Term RD Interest Rates
Indian Bank also provides its customers with the option of opening a medium and long term recurring deposit account. Depositors can open a medium term deposit account for a period of more than 2 years but less than 3 years and a long term recurring deposit account for a period which exceeds 3 years.
For deposits less than Rs.1 crore, the bank offers an interest rate of 7.25 percent per annum on medium term and long term deposits and for deposits worth Rs.1 crore to Rs.5 crores, the bank offers an interest rate of 6.75 percent per annum.
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
- Compare Recurring Deposit Interest Rates of Indian Bank with Other Banks and Institutions
- Check Features and Schemes of Indian Bank Recurring Deposit
Indian Bank RD Schemes
Read More Articles On RD
News About Indian Bank Recurring Deposit
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.
17th 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.
2nd March 2016