Indian Bank has revised its fixed deposit interest rates for amounts below Rs 2 crore. The new rates are effective from June 3, 2024.
Rates of which FD tenure has been hiked?
The bank has hiked FD interest rate on a single tenure by 80 basis points (bps) from 6.30 percent to 7.10 percent on tenure above 1 year to less than 2 years for general citizens.
Indian Bank offers fixed deposit interest rate between 2.80 per cent to 7.25 percent for general citizens.
| Period | Less than Rs 2 crore | |
| Existing (% p.a) | Revised (% p.a) | |
| 7 days to 14 days | 2.80 | 2.80 |
| 15 days to 29 days | 2.80 | 2.80 |
| 30 days to 45 days | 3.00 | 3.00 |
| 46 days to 90 days | 3.25 | 3.25 |
| 91 days to 120 days | 3.50 | 3.50 |
| 121 days to 180 days | 3.85 | 3.85 |
| 181 days to less than 9 months | 4.50 | 4.50 |
| 9 months to less than 1 year | 4.75 | 4.75 |
| Ind Supreme 300 Days
(w.e.f 03.05.24 -30.06.24) |
7.05 | 7.05 |
| 1 year | 6.10 | 6.10 |
| Above 1 year to less than 2 years | 6.30 | 7.10 |
| Ind Super 400 Days
(w.e.f 03.05.24 -30.06.24) |
7.25 | 7.25 |
| 2 years to less than 3 years | 6.70 | 6.70 |
| 3 years to less than 5 years | 6.25 | 6.25 |
| 5 year | 6.25 | 6.25 |
| Above 5 years | 6.10 | 6.10 |
What is the last date to invest in Indian Bank special FDs
The last date has been extended to June 30, 2024. Earlier the date was May 3, 2024.
Ind Super 400 Days
Special Retail Term Deposit Product, “IND SUPER 400 DAYS,” offers a higher rate of interest for investments starting from Rs.10000 to less than 2 Crore for 400 days in the form of FD/MMD with callable options.
Indian Bank will now offer 7.25% interest rates to the general public, 7.75% to seniors, and 8.00% to super senior citizens.
Ind Super 300 Days
A Special Retail Term Deposit Product, “IND SUPREME 300 DAYS,” offers an attractive rate of interest for investments starting from Rs.5000 to less than 2 Crore for 300 days in the form of FD/MMD with callable options.
Indian Bank will now offer 7.05% interest rates to the general public, 7.55% to seniors, and 7.80% to super senior citizens.
Senior citizens and super senior citizens
For Domestic Term Deposit for Senior Citizens, additional rate of interest payable would be 0.50% p.a. for amounts up to Rs 10 crore.
According to the Indian bank website, “ A Special Term Deposit Account for Super Senior Citizen” (Age 80 years and above) is offering additional 0.25% higher rate of interest over & above the additional rate that is presently being offered for normal Senior Citizen on Term Deposit for all deposit buckets.”
