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Like most banks, Indian Bank offers a range of deposit and loan products to both retail and commercial customers. Among its deposit offerings, the bank provides four distinct fixed deposit (FD), or time deposit, schemes tailored to meet the diverse needs of its retail customer base.
These schemes include tax-saving options, such as the five-year FD and capital gains schemes, which allow customers to claim tax benefits on their savings and investment gains. Other schemes offer greater flexibility, allowing account holders to customize the deposit tenure and other details according to their individual preferences.
Read on to learn more about how these schemes work and choose the one that best suits your financial goals.
Tenure | 7 days to 10 years |
Senior Citizen Interest Rates | 3.30-7.80% p.a. |
Public Interest Rates | 2.80-7.30% p.a. |
Highest Interest Rates for Public | 7.30% p.a. |
Highest Interest Rates for Senior Citizens | 7.80% p.a. |
Premature Withdrawal | 1% Penalty |
Minimum Deposit Amount | Rs 1000 |
The interest rates provided in the table below is applicable to deposits less than Rs.2 crore and are effective from 5 February 2021.
| Deposit Tenure | Interest Rates for General Customers (% p.a.)* | Interest Rates for Senior Citizens (% p.a.)* |
| 7 days to 14 days | 2.8 | 3.3 |
| 15 days to 29 days | 2.8 | 3.3 |
| 30 days to 45 days | 2.8 | 3.3 |
| 46 days to 90 days | 3.25 | 3.75 |
| 91 days to 120 days | 3.85 | 4.35 |
| 121 days to 180 days | 3.85 | 4.35 |
| 181 days to 269 days | 4 | 4.5 |
| 9 months to 364 days | 4.40 | 4.90 |
| 1 year | 5.00 | 5.50 |
| 1 year 1 day to 1 year 364 days | 5.10 | 5.6 |
| 2 years to 2 years 364 days | 5.10 | 5.60 |
| 3 years to 5 years | 5.15 | 5.65 |
| 5 years | 5.25 | 5.75 |
| Above 5 years | 5.15 | 5.65 |
Interest rates are subject to change from time to time.
Our FD calculator page gives you a way to predict the returns you may receive upon putting your money in a fixed deposit account.
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