Indian Bank FD interest rates vary from about 2.80% to 7.15% per year based on the deposit amount and period. The tenure of the deposit at Indian Bank ranges from 6 months to 10 years. Senior citizens get 0.50% interest over the overall deposit amount up to ₹10 crore. Here, we discuss all the important details regarding the Indian Bank FD, such as its features, different rate slabs, and taxation on fixed deposits. Read on to have a better understanding of Indian Bank FDs.
Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund
Guaranteed Return Plans, Fixed Deposits & Debt Mutual Fund
Guaranteed Return Plans
Returns Before Tax
6.9%* (TAX-FREE)
Returns After Tax
6.9%*
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
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*For annual premium upto ₹5 Lacs
What is the Indian Bank Fixed Deposit?
An Indian Bank FD is a time deposit product that enables you to deposit a sum of money for a tenure of your preference and receive interest at a predetermined rate. The deposit amount must be ₹1,000 with no limit. You can opt for an interest every quarter, month, year, or at maturity. The deposit will mature after the desired tenure, and the principal with interest is repaid.
Indian Bank has introduced products like ‘Ind Secure’ with lower deposit amounts. Besides, the Green Retail Term Deposit product ‘Ind Green’ enables customers to invest in sustainable development. The bank offers the highest preferential rates to super-senior citizens (up to 7.55%).
Information About
Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund
Guaranteed Return Plans, Fixed Deposits & Debt Mutual Fund
Guaranteed Return Plans
Returns Before Tax
6.9%* (TAX-FREE)
Returns After Tax
6.9%*
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
VIEW PLANS
*For annual premium upto ₹5 Lacs
Key Benefits of Indian Bank Fixed Deposit
Here are the main benefits of opening an Indian Bank FD, explained simply for all readers:
Flexible Deposit Periods: You can choose how long to invest your money, from a minimum of 7 days to a maximum of 10 years. This allows you to plan for both short-term and long-term goals.
Low Minimum Deposit: You can start an Indian Bank FD with just ₹1,000, which makes it accessible for many people, including first-time savers and small investors.
Higher Interest for Senior Citizens: Senior citizens get an extra 0.50% interest per annum on deposits up to ₹10 crore. This extra return helps boost income for those in retirement.
Automatic Renewal: If you forget to renew your FD on time, Indian Bank offers auto-renewal for the same period at the prevailing interest rate. This ensures your money keeps earning interest without interruption.
Loan Facility Against FD: If you need funds urgently, you can take a loan against your FD without breaking it. This gives you financial support while the deposit continues to earn interest. The interest rate for loans is 1% more than the rate that was promised for the term deposit.
Pre-Closure Option: If required, you can close your FD before maturity. Pre-closure is allowed, though some penalty may apply depending on the tenure and the amount, for example, if the period is more than or equal to 7 days and less than 181 days, with 1% lower than the applicable interest rate.
Nomination Facility: You can nominate someone to receive your FD proceeds in case of unforeseen events. This helps ensure that your savings go to the right person without legal complications.
Sweep-In/Sweep-Out Facility: Indian Bank offers this with its SB Platinum Account. Extra funds above ₹50,000 are moved into an FD automatically. If your balance falls, money is withdrawn from the FD. This helps earn more while keeping funds accessible.
Indian Bank FD Interest Rates
The table below provides an overview of indicative Indian Bank rates for different tenures:
Retail Domestic & NRO Term Deposits (< Rs. 3 Cr)
Tenure
Revised Rate (% p.a.)
7 – 14 days
2.80
15 – 29 days
2.80
30 – 45 days
3.00
46 – 90 days
3.25
91 – 120 days
3.50
121 – 180 days
3.85
181 days – <9 months
4.50
9 months – <1 year
4.75
1 year
6.10
444 days
7.15*
555 days
6.80*
>1 year – <2 years (excluding 444 & 555)
7.10
2 – <3 years
6.70
3 – <5 years
6.25
5 years
6.25
Above 5 years
6.10
*Indian Bank FD interest rates w.e.f. May 8, 2025
IND SECURE FD (444 Days)
Category
Interest Rate (% p.a.)
Public
7.15
Senior Citizen
7.65
Super Senior Citizen
7.90
*Indian Bank FD interest rates w.e.f. May 8, 2025
IND GREEN FD (555 Days)
Category
Interest Rate (% p.a.)
Public
6.80
Senior Citizen
7.30
Super Senior Citizen
7.55
*Indian Bank FD interest rates w.e.f. March 26, 2025
Bulk Term Deposits (Rs. 3 Cr – Rs. 5 Cr)
Tenure
Callable Rate (% p.a.)
Non-Callable Rate (% p.a.)
7 – 14 days
5.00
5.00
15 – 29 days
5.00
5.00
30 – 45 days
5.50
5.50
46 – 90 days
5.75
5.75
91 – 120 days
6.00
6.00
121 – 180 days
6.25
6.25
181 days – <9 months
6.50
6.50
9 months – <1 year
6.50
6.50
1 year
6.75
6.75
>1 year – <2 years
6.50
6.50
2 – <3 years
6.25
6.25
3 – <5 years
6.00
6.00
5 years
6.00
6.00
Above 5 years
6.00
6.00
*Indian Bank FD interest rates w.e.f. April 15, 2025
How to Open an Indian Bank Fixed Deposit (FD)
You can open an Indian Bank FD easily in a few simple steps:
1. Offline Method (Visit the Nearest Branch)
For those who prefer visiting a branch:
Go to your nearest Indian Bank branch.
Carry your PAN, ID proof, address proof, and a recent photograph.
Fill in the FD application form.
Choose your deposit amount, tenure, and payout option.
Make the deposit and collect your FD receipt.
2. Online Method (Netbanking)
For existing Indian Bank customers with internet banking:
Visit Indian Bank’s official website
Log in to your Net Banking account
Navigate to “Online Term Deposit” (available on the left side menu)
Click on “e-TDA Opening” from the available options.
Click on the Agree button after reading the “Terms and Conditions.”
Select term deposit type from the list i.e., “Fixed Deposit”
Enter the deposit amount and select the tenure (7 days to 10 years).
Add your nominee details.
Choose the FD type (cumulative, monthly payout, etc.) and interest payout option.
Confirm details and apply by typing the transaction password.
OTP will be sent to the registered mobile number.
Upon successful confirmation, your FD receipt will be generated and available for download or printing.
Documents Required for Indian Bank FD
To open an Indian Bank FD, you need the following documents:
Interest earned on Indian Bank FDs is taxed under “Income from Other Sources” as per the Income Tax Act. As per Section 194A, TDS is deducted at 10% if the annual interest exceeds ₹50,000. For senior citizens, the limit is now ₹1,00,000 from April 1, 2025. If you don’t provide your PAN, TDS is deducted at 20%.
To avoid TDS, eligible individuals can submit Form 15G or 15H to the bank. These forms are for people with income below the taxable limit. You can track all tax deductions using Form 26AS. Also, 5-year Indian Bank tax-saving FDs are eligible for deductions under Section 80C, up to ₹1.5 lakh.
Key Takeaways
Indian Bank FD interest rates provide consistent returns for tenures from 6 months to 10 years. You can open an FD with a minimum amount of ₹1,000, and senior citizens enjoy enhanced interest rates for deposits up to ₹10 crore. Features such as auto-renewal, loan against the deposit, and nomination make the deposits versatile and convenient for a large number of savers. Interest payment options and pre-closure options further enhance convenience. You can compare the best FD interest rates offered by different banks to make an informed decision.
What is the minimum deposit required for an Indian Bank FD?
To apply for an Indian Bank FD, you should have at least ₹1,000. Anyone can start saving and receiving fixed returns thanks to the simple way in which it works.
Does Indian Bank offer higher FD interest rates for senior citizens?
Yes, senior citizens can earn 0.50% more interest on their eligible Indian Bank savings each year. For one customer, the limit on deposit is ₹10 crore in all branches.
What is the IND SECURE fixed deposit?
The IND SECURE is a special retail term deposit product with a fixed maturity tenure of 444 days. Launched on May 8, 2025, it is open for investments up to less than ₹3 crore until September 30, 2025. It offers 7.15% interest p.a. for the general public, 7.65% for senior citizens, and 7.90% for super senior citizens. Indian Bank discontinued the Ind Super 400 Days FD and the Ind Supreme 300 Days FD while launching this new scheme.
What is the IND GREEN fixed deposit?
Indian Bank’s IND GREEN is a retail term deposit product designed to promote sustainable development with guaranteed returns. This scheme has a fixed tenure of 555 days and accepts investments from ₹1,000 to less than ₹3 crore. The scheme's interest rates are as follows: 6.80% p.a. for the general public, 7.30% for senior citizens, and 7.55% for super senior citizens.
What is the interest payout frequency for Indian Bank FDs?
Interest from the Indian Bank FD is paid out every quarter or every month. You receive your interest lowered each month, but you get the normal rate credited every three months when you sign up for the savings scheme.
Can I open an Indian Bank FD online?
Yes, customers can visit the official Indian Bank website to open an online fixed deposit account by following a very simple step-by-step process.
What happens if I forget to renew my Indian Bank FD?
If you didn’t renew your Indian Bank FD in time, it will be automatically extended with the same interest rate as on the day of maturity, unless you chose not to renew it beforehand.
How much extra interest does the Indian Bank give to senior citizens?
If you are 65 years old or older and open a fixed deposit with Indian Bank, you can receive 0.50% more interest, up to a balance of ₹10 crore.
Can I open multiple Indian Bank FDs under the same account?
Yes, multiple Indian Bank FDs can be opened using the same customer account number (CIF). Nonetheless, additional rules may be set if you are a senior citizen depositing more than ₹2 crore daily.
˜Top plans are based on annualized premium, for bookings made through https://www.policybazaar.com in FY 25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in * The Guaranteed Returns are dependent on the policy term and premium term availed, along with the other variable factors. The 6.9% rate of return is for an 18-year-old, healthy male for a policy term of 20 years and premium term of 10 years with a Rs . 20,000 monthly instalment premium. The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year, and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
** The Life Cover amount varies as per plan specifications. Please read the policy document for details.
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
#Discount offered by insurance company
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
