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For opening a fixed deposit with ease, and at attractive interest rates, Indian  Bank Fixed Deposit is a good move.

Indian Bank FD Interest Rates for different Investment Periods


Investment Period FD rates for Regular deposits FD rates for Senior Citizen
7 days to 14 days 4.50% 5.00%
15 days to 29 days 4.50% 5.00%
30 days to 45 days 4.50% 5.00%
46 days to 90 days 5.00% 5.50%
91 days to 120 days 6.00% 6.50%
121 days to 180 days 6.25% 6.75%
181 days to 269 days 6.50% 7.00%
9 months to 364 days 6.50% 7.00%
1 year 6.75% 7.25%
1 year 1 day to 1 year 364 days 6.60% 7.10%
2 years to 2 years 364 days 6.50% 7.00%
3 years to 10 years 6.00% 6.50%

The above rates are applicable for deposits of below Rs. 1 crore.

Indian Bank FD Interest Rates

Indian Bank offers multiple fixed deposit options to their customers to park their surplus savings for a fixed tenure. A customer is required to make a deposit once into their FD account at the time of opening the account with the bank. The customer is not allowed to deposit more money and withdraw any money in the account during the tenure of the deposit. Fixed Deposits of Indian Bank have a higher interest rate compared to their saving deposits. Benefits of opening an FD account in Indian Bank are:

  • Automatic renewal facility for equal period
  • Nomination facility available
  • Earn interest with ease liquidity

Indian Bank Fixed Deposit rates

FD in Indian Bank – Premature Withdrawal

Premature closure of Term Deposit with Indian Bank is along with the lower interest rate of 1% for deposits above Rs. 5 lakh than the contracted rate. The penal provisions for premature closure on Indian Bank FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit Indian Bank

Indian Bank offers the loan up to 90% against its own deposit. Note that Indian Bank will not give you the loan against FD of any other bank. Indian Bank offers Loan against FD at the rate of 5% to 7.5%

Maximum loan tenure is restricted up to the maximum tenure of the FD.

Illustration – Mr. Rahul has opened a fixed deposit of Rs. 100,000 for 2 years in Indian Bank. The borrower later decided to take the loan against his FD. The bank has approved a credit limit of 90% against his FD at 10% interest rate. Now, if the borrower draws Rs. 90,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on Rs. 90,000 availed for 1 month only. The amount he repays after 1 month is Rs. 90,744. So, the interest charged on the loan taken is Rs. 744.

Documents required to open Fixed Deposit Account in Indian Bank

  • PAN Card
  • 2 Photographs
  • Identity Proof: PAN Card, Voter ID Card, Passport, Driving License
  • Address Proof: Telephone Bill, Electricity Bill, Bank Statement With Cheque

Similar Banks Offering FD

Similar Banks Offering FD
Central Bank of India IDBI Bank HDFC Andhra Bank
Canara Bank Citibank Allahabad Bank
Bank of India Bank of Baroda PNB RBL
Union Bank of India Kotak Mahindra Bank ICICI SBI
HSBC Bank Axis Bank IDFC Bank

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