Indian Bank offers competitive Fixed Deposit (FD) rates which is ranging from 3.50% to 7.90% p.a. . The rates apply to deposits below ₹3 crore, with tenures from 7 days to 10 years. Below is a detailed table of FD rates effective from May 12, 2024.
Indian Bank Deposit Interest Rates (Effective May 8, 2025)
|
Tenure |
General Public (% p.a.) |
Senior Citizens (% p.a.) |
Super Senior Citizens (% p.a.) |
|---|---|---|---|
|
Domestic Term Deposits |
|||
|
7 days to 14 days |
2.80 | 3.30 | 3.55 |
|
15 days to 29 days |
2.80 | 3.30 | 3.55 |
|
30 days to 45 days |
3.00 | 3.50 | 3.75 |
|
46 days to 90 days |
3.25 | 3.75 | 4.00 |
|
91 days to 120 days |
3.50 | 4.00 | 4.25 |
|
121 days to 180 days |
3.75 | 4.25 | 4.50 |
|
181 days to < 1 year |
4.50 | 5.00 | 5.25 |
|
1 year |
6.10 | 6.60 | 6.85 |
|
> 1 year to < 2 years |
7.10 | 7.60 | 7.85 |
|
2 years to < 3 years |
6.70 | 7.20 | 7.45 |
|
3 years to < 5 years |
6.25 | 6.75 | 7.00 |
|
5 years |
6.25 | 6.75 | 7.00 |
|
> 5 years to 10 years |
5.65 | 6.40 | 6.65 |
|
NRE Term Deposits |
|||
|
1 year |
6.10 | – | – |
|
> 1 year to < 2 years |
7.10 | – | – |
|
2 years to < 3 years |
6.70 | – | – |
|
3 years to < 5 years |
6.25 | – | – |
|
5 years |
6.25 | – | – |
|
Tax Saver Scheme (5 to 10 years) |
6.10-6.25 | 6.60-6.75 | 6.85-7.00 |
Notes:
-
Senior Citizens: Additional 0.50% p.a. for deposits up to ₹10 crore (7 days to 10 years, except for Capital Gains Scheme Type B).
-
Super Senior Citizens (80+ years): Additional 0.75% p.a. for deposits up to 5 years and 1.00% p.a. for deposits above 5 years to 10 years.
-
NRE Term Deposits: Rates are subject to RBI guidelines; no additional interest for senior citizens or staff.
-
Bulk Deposits (₹3 crore to ₹5 crore): Revised rates effective April 15, 2025, apply; contact Treasury Branch for deposits above ₹5 crore.
-
Premature Withdrawal: For domestic deposits, foreclosure charges of 1% p.a. below the card rate apply for deposits above ₹5 lakh for tenures of 1 year and above. No interest for NRE deposits withdrawn before 1 year.
-
Savings Bank Deposits: Interest calculated daily, credited quarterly (3.50% for balances up to ₹50 lakh, 4.00% for balances above ₹50 lakh).
-
Staff Benefits: Additional 1% p.a. for staff (up to ₹2 crore) and 1.5% p.a. for ex-staff senior citizens (up to ₹10 crore), not applicable for NRE/NRO deposits.
For the most accurate and updated rates, visit the Indian Bank website or contact a branch, as rates are subject to change.
Frequently Asked Questions (FAQs)
1. What is the minimum deposit amount for an Indian Bank FD?
The minimum deposit is ₹1,000 for most FD schemes, with no upper limit except for special schemes (up to ₹3 crore per day).
2. Can senior citizens get higher FD rates?
Yes, senior citizens (60+ years) receive an additional 0.50% p.a. for tenures up to 5 years and 0.75% for 5–10 years. Super senior citizens (80+ years) get 0.75% and 1% extra, respectively.
3. Are Indian Bank FD rates taxable?
Yes, interest earned is taxable as per the investor’s income tax slab. TDS is deducted if interest exceeds ₹40,000 p.a. (₹50,000 for senior citizens). Form 15G/H can be submitted to avoid TDS if eligible.
4. Can I withdraw my FD prematurely?
Yes, except for the IB Tax Saver FD (5-year lock-in). No penalty applies for deposits below ₹5 lakh held for 181 days or more. For deposits above ₹5 lakh withdrawn before 181 days, a 1% penalty is charged.
5. How can I open an Indian Bank FD?
FDs can be opened via Indian Bank’s mobile app, internet banking, or by visiting a branch with a PAN card, identity proof, address proof, and photographs.
6. Does Indian Bank offer a loan against FD?
Yes, you can avail a loan up to 90% of the FD amount, with interest rates 5% to 7.5% above the FD rate, and the loan tenure is limited to the FD’s maturity.
7. What are the special FD schemes offered by Indian Bank?
-
IND Supreme 300 Days: 7.25% p.a. (8.00% for super seniors), ₹5,000 to < ₹3 crore.
-
IND Super 400 Days: 7.30% p.a. (8.05% for super seniors), ₹10,000 to < ₹3 crore.
-
IND Green 555 Days: 7.20% p.a. (7.95% for super seniors), ₹1,000 to < ₹3 crore.
These schemes are valid until June 30, 2025.
8. Is there an auto-renewal option for Indian Bank FDs?
Yes, FDs can be set to auto-renew for the same tenure at the prevailing rate upon maturity.
For the latest rates and updates, visit Indian Bank’s official website (https://www.indianbank.in/) or contact a branch
Also visit : https://postofficefd.com/kisan-vikas-patra-interest-rates-eligibility-and-benefits/