Indian Bank provides its customers with a wide range of fixed deposit options to invest their hard-earned money and earn attractive interest on Indian Bank FD Interest Rates. These Indian Bank FD Interest Rates are safe investment options that offer a higher rate of interest as compared to saving bank accounts.Read more
Save upto ₹46,800 in tax under Sec 80C
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Get higher Returns than Fixed Deposit along with Tax Benefits
|BANKS||GENERAL CITIZENS||SENIOR CITIZEN|
|Indian Bank FD Rates||2.90% - 5.15%||3.40% - 5.65%|
|Axis Bank FD Rates||2.50% - 5.75%||2.50% - 6.50%|
|Bandhan Bank FD Rates||3.00% - 5.00%||3.75% - 5.75%|
|Bank of Baroda FD Rates||2.80% - 5.25%||3.30% - 6.25%|
|Bank of India FD Rates||2.85% - 5.05%||3.35% - 5.55%|
|Canara Bank FD Rates||2.90% - 5.40%||2.90% - 5.90%|
|Central Bank of India FD Rates||2.75% - 5.00%||2.90% - 3.25%|
|DBS Bank FD Rates||2.50% - 5.50%||3.50% - 6.00%|
|HDFC Bank FD Rates||2.50% - 5.60%||3.00% - 6.35%|
|IDFC Bank FD Rates||2.50% - 6.00%||3.00% - 6.50%|
|Indian Overseas Bank FD Rates||3.40% - 5.20%||3.90% - 5.70%|
|IndusInd Bank FD Rates||2.50% - 6.00%||3.00% - 6.50%|
|Punjab National Bank FD Rates||2.90% - 5.25%||3.50% - 5.75%|
|SBI FD Rates||5.30% - 5.40%||5.80% - 6.20%|
|UCO Bank FD Rates||2.55% - 5.05%||3.80% - 6.30%|
|Yes Bank FD Rates||3.25% - 6.25%||3.75% - 7.25%|
The only thing that the customer needs to do is start a Fixed Deposit account with the Indian Bank by depositing at least the minimum required investment amount and choosing a maturity period. Once the account is active, he/ she cannot deposit additional money in their FD account in the middle of the tenure.
Take a look at some of the attractive features of Indian Bank fixed deposit interest rates below:
Indian Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:
The amount that is invested
The Rate of Interest offered
The tenure of the Fixed Deposit Account
The compounding period, that is, yearly, half-yearly, quarterly, or monthly
The FD Amount
Once entered the following details, an investor will come to know:
The maturity value of the FD
The total interest earned during the complete tenure
Indian Bank offers three types of fixed deposit schemes to its customers. They are:
Check out each of these FD schemes below in detail:
The Regular Fixed Deposit scheme by Indian Bank allows people to park their savings in an FD account to earn higher returns. It comes with greater flexibility as well as easy liquidity when compared to a savings bank account. Take a look at the features of Regular Fixed Deposit scheme:
The Tax Saver Term Deposit scheme by Indian Bank has been designed for people who want to avail tax rebate on their investments under Sec 80C of the Income Tax Act. Take a look at the features of the Tax Saver Term Deposit scheme:
*Tax benefit is subject to changes in tax laws
The Reinvestment Term Deposit scheme by Indian Bank reinvests the interest earned on deposits and pays compound interest on maturity. Take a look at the features of Reinvestment Term Deposit scheme:
Every term deposit comes with a maturity period. A person can open an FD for short-term, medium-term or long-term. Take a look at the three types of fixed deposit accounts offered by Indian Bank based on their maturity term:
Short-term deposits refer to those fixed deposits which have a maturity period of up to one year. This type of deposit is opened to achieve short term goals. The Indian Bank offers short-term deposit for a minimum of 7 days to a maximum of 1 year. At present, the maximum interest rate for short-term deposit by Indian Bank is 5.15%.
Medium-term deposits are those fixed deposits that come with a tenure of more than 1 year and goes up to 5 years. The Bank currently provides a maximum interest rate of 5.25% on medium-term deposits.
Long-term deposits refer to those fixed deposits which come with a tenure of more than five years. This type of deposit can is opted to achieve long-term goals, such as retirement. As per the existing Indian Bank FD rates, the Bank is offering an interest rate of 5.15% on long-term deposits.
The Indian Bank FD calculator is a tool that helps a depositor estimate the maturity amount of a fixed deposit. It uses certain information related to an FD, such as the investment amount, rate of interest, deposit tenure, etc. to determine the amount that the depositor will get at maturity. However, the Indian Bank FD calculator is only available online.
*Tax benefit is subject to changes in tax laws
The Indian Bank allows its customers to avail loan on their fixed deposits, except under the Tax Saver Term Deposit scheme. The depositor can avail a loan for up to 90 per cent against his/her FD amount. The maximum tenure of the loan taken against the FD is restricted to up to the maturity period of the fixed deposit.
For example - Mr A had started an Indian Bank FD account with Rs 10,00,000. He decides to take a loan against the deposit and gets a loan for up to 90% of the FD amount at an interest rate of 10%. This means he gets a loan of 9,00,000 and will have to pay an interest of 10% every month on the loan amount.
Please note that Indian Bank will provide a loan against an FD in the same bank and not in some other bank.
Indian Bank is regarded as one of the top-performing banks and best servicing financial services company. It was established in 1907. The Company boasts of overseas branches in Sri Lanka and Singapore.
Indian Bank offers great additional interests to senior citizens, eligible ex-staff members, and ex-staff cum senior citizens. For instance, the additional Indian Bank FD interest rates for senior citizens are 0.50% p.a. above the normal rate of interest, but for amounts less than Rs 2 crore. This additional rate of interest is offered for the tenure of investment between 7 days to 10 years over the normal Indian Bank FD rates for regular fixed deposit scheme, short-term deposit scheme, Tax Saver term deposit and reinvestment plan scheme.
As part of customer-friendly measures, the Indian Bank ensures that all types of deposits like reinvestment plan deposits, fixed deposits, and short-term deposits are automatically rolled over the same tenure under a similar scheme. The prevailing Indian Bank FD rates are applicable on the date of automatic renewable to the rolled over amount.
It should be noted that the rate of interest on the bank's deposit in the domestic term applies to Capital Gains Scheme. If there has been a revised rate of interest, they apply to the renewal of any maturing deposits and fresh deposits.
Rate of Interest (Yearly)
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