Indian Bank offers FD interest rates of 2.80-7.25% p.a. to the general public and 3.30-7.75% p.a. to senior citizens on tenures ranging from 7 days to 5 years and above. The interest rate on Indian Bank Tax Saving FDs is 6.10-6.25% p.a. for the general public and 6.60-6.75% p.a. for senior citizen depositors for tenures of 5 to 10 years. The bank also offers various fixed deposit products for NRIs, such as NRO, NRE, RFC and FCNR (B) fixed deposits. Indian Bank accepts FCNR (B) fixed deposits and RFC fixed deposits in US Dollars (USD), British Pound Sterling (GBP), Euro (EUR), Japanese Yen (JPY), Canadian Dollar (CAD), Australian Dollar (AUD), Swiss Franc (CHF), and Singapore Dollar (SGD).
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*Rates are subject to change as per the bank's discretion.
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Indian Bank FD Interest Rates (p.a.) Highlights 2023 |
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| Highest slab rate | 7.25% (for 400 days) |
| For 1 year | 6.10% |
| For 2 years | 6.70% |
| For 3 years | 6.25% |
| For 4 years | 6.25% |
| For 5 years | 6.25% |
| Tax-Saving FD |
6.25% (for 5 years) 6.10% (for above 5 years to 10 years) |
The interest rates are updated as of 1 May 2023
FDs of up to ₹5 lakhs insured by RBI
No hassle of opening a saving account
No documentation
| Period | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 7 days to 14 days | 2.80 | 2.80 |
| 15 days to 29 days | 2.80 | 3.30 |
| 30 days to 45 days | 3.00 | 3.50 |
| 46 days to 90 days | 3.25 | 3.75 |
| 91 days to 120 days | 3.50 | 4.00 |
| 121 days to 180 days | 3.85 | 4.35 |
| 181 days to less than 9 months | 4.50 | 5.00 |
| 9 months to less than 1 year | 4.75 | 5.25 |
| 1 year | 6.10 | 6.60 |
| Above 1 year to less than 2 years | 6.30 | 6.80 |
| 2 years to less than 3 years | 6.70 | 7.20 |
| 3 years to less than 5 years | 6.25 | 6.75 |
| 5 years | 6.25 | 6.75 |
| Above 5 years | 6.10 | 6.85 |
Note: 1. Additional 0.50% interest rate is offered to senior citizens (aged 60 years and above) on deposits of up to 15 days to 5 years and 0.75% interest rate on deposits above 5 years to 10 years.
2. Additional 0.75% interest rates are offered to super senior citizens (aged 80 years and above) for up to 5 years and 1% additional interest rate on deposits above 5 years to 10 years
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6.5%INTEREST ON FD
| Tenure | Interest Rates (% p.a.) | ||
| IND Super 400 Days (valid till 30 June 2023) | Public | Senior Citizen | Super Senior Citizen |
| 7.25 | 7.75 | 8.00 | |
Note: Indian Bank has launched a special fixed deposit product, “IND Super 400 days” for deposits starting from Rs 10,000 to less than Rs 2 crore for 400 days in the form of FD/MMD with callable options (with premature withdrawal facility).
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 5 years | 6.25 | 6.75 |
| Above 5 years to 10 years | 6.10 | 6.60 |
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| Period | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 7 days to 14 days | 5.00 | 5.50 |
| 15 days to 29 days | 5.00 | 5.50 |
| 30 days to 45 days | 6.00 | 6.50 |
| 46 days to 90 days | 5.25 | 5.75 |
| 91 days to 120 days | 5.25 | 5.75 |
| 121 days to 180 days | 5.50 | 6.00 |
| 181 days to less than 9 months | 5.50 | 6.00 |
| 9 months to less than 1 year | 6.25 | 6.75 |
| 1 year | 6.70 | 7.20 |
| Above 1 year to less than 2 years | 6.65 | 7.15 |
| 2 years to less than 3 years | 6.10 | 6.60 |
| 3 years to less than 5 years | 6.00 | 6.50 |
| 5 years | 6.00 | 6.50 |
| Above 5 years | 6.00 | 6.75 |
Note: 1. Additional 0.50% interest rate is offered to senior citizens (aged 60 years and above) on deposits of up to 15 days to 5 years and 0.75% interest rate on deposits above 5 years to 10 years.
2. Additional 0.75% interest rates are offered to super senior citizens (aged 80 years and above) for up to 5 years and 1% additional interest rate on deposits above 5 years to 10 years
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| Currency | Interest Rates (% p.a.) | ||||
| 1 year to less than 2 years | 2 years to less than 3 years | 3 years to less than 4 years | 4 years to less than 5 years | 5 years | |
| USD | 5.00 | 3.95 | 3.60 | 3.60 | 3.60 |
| GBP | 2.00 | 2.20 | 2.25 | 2.25 | 2.25 |
| EUR | 0.02 | 0.01 | 0.01 | 0.10 | 0.15 |
| JPY | 0.11 | 0.13 | 0.12 | 0.13 | 0.14 |
| CAD | 1.81 | 2.36 | 2.60 | 2.66 | 2.67 |
| AUD | 1.20 | 1.70 | 2.05 | 2.30 | 2.45 |
| CHF | 0.00 | 0.01 | 0.02 | 0.03 | 0.05 |
| SGD | 0.27 | 0.40 | 0.49 | 0.55 | 0.61 |
Note: Indian Bank offers special interest rate of 4.75%for USD Deposits of above 10 Mio for a 1-year tenor.
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| Period of Deposit | Deposits up to Rs. 5 lakhs | Deposits above Rs. 5 lakhs |
| Less than 7 days | No interest will be credited | No interest will be credited |
| 7 days and above | No penalty if deposits are kept for at least 181 days, i.e. the eligible interest rate will be the relevant card rate for the actual period run on the date of deposit.
If deposits are closed before 181 days: the applicable rate will be the relevant card rate for the actual time run prevailing on the day of deposit, less 1% p.a. as foreclosure charges |
Applicable rate will be the relevant card rate for the actual time run prevailing on the day of deposit, less 1% p.a. as foreclosure charges |
Deposits made in the names of staff, ex-staff and senior citizens will not be subject to foreclosure charges.
Domestic term deposits are placed by Corporate/Government Departments (State, Central, and Quasi Government), Institutions, and non-profit organizations (which exist for Religious, Educational, or Charitable purposes and from which their shareholders or trustees do not benefit financially) where the deposits are placed based on the Bank’s quotation will not be subject to foreclosure charges.
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Investors can check the maturity amount of the scheme by using the Indian Bank FD Interest Rate Calculator at Paisabazaar. Also, Indian Bank FD Interest Rates differ for different tenures. So, the investors can opt for a deposit tenure option which yields higher Indian Bank FD Rates and better returns. Investors can calculate their potential earnings by providing deposit amount, Indian Bank FD Rate for the preferred deposit tenure option and deposit tenure. After providing these details, investors can calculate their potential returns and also can compare fd rates across various banks.
Q. What is the minimum & maximum tenure for Indian Bank Fixed Deposit account?
A. The minimum & maximum deposit tenure option provided by Indian Bank is 7 days & 10 years respectively.
Q. Can an account holder close his/her Indian Bank FD anytime?
A. Yes, an account holder can close his/her Indian Bank FD anytime except for tax saver FD (comes with a lock-in period of 5 years).
Q. Is there a penalty for premature withdrawal?
A. Yes, a penalty for premature withdrawal is charged as mentioned above.
Q. What are the various types of Indian Bank fixed deposit schemes?
A. The various types of Indian Bank fixed deposit schemes are as follows:
Q. Who all are eligible for Indian Bank Tax Saver fixed deposit?
A. The Resident Individual (sole or joint account) and Hindu Undivided Family are eligible for Indian Bank Tax Saver fixed deposit.
Q. What is the minimum and maximum period for the Indian Bank facility deposit?
A. The minimum period is 1 year and the maximum period is 3 years for the Indian Bank facility deposit.
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