Indian Bank 555-Days FD Scheme 2025

What is the Indian Bank 555-Days FD Scheme?

The Indian Bank 555-day FD scheme is also known as “IND GREEN” with the minimum investment amount starting from ₹1,000 to less than 3 crores. This special scheme is highly beneficial for conservative investors as it provides guaranteed returns. Once you book the fixed deposit, the interest rate is locked in for the entire 555-day period, protecting your earnings from any future rate fluctuations in the market. 

This fixed rate offers stability and predictability, making it perfect for investors who want to protect their initial investment and have a reliable, steady income. The scheme has a maturity tenure of 555 days (1 year, 6 months, and 10 days) in the form of an FD with callable options w.e.f. August 01, 2025. 

Features of the Indian Bank 555-Days FD Scheme 

Below are some of the best features of the Indian Bank 555-day FD scheme. Read to understand better:

• Guaranteed Returns and Assured Security: Indian Bank's 555-day FD scheme offers attractive interest rates of around 6.50% for the general public and 7.10% for senior citizens, exceptionally outperforming typical savings accounts, while assuring government ownership and Deposit Insurance and Credit Guarantee Corporation (DICGC) coverage that secures your investment up to ₹5 lakh.
• Flexible Investment: This scheme is highly flexible, with a low minimum investment of just ₹1,000 and the option to choose from monthly, quarterly, half-yearly, or cumulative interest payouts. Additionally, senior citizens receive an extra 0.50% interest, making it an ideal choice for a steady income stream.
• Nomination Facility Available: The IND GREEN scheme by Indian Bank has a nomination facility available with them, where you can easily transfer the funds to the nominated person in any unforeseen circumstances. 
• Multiple Account Opening Options: To open your FD, you can opt for many available options, such as through internet banking, mobile banking, or branch visits.
• Premature Withdrawal Option: The Indian Bank premature withdrawal FD means you can access your funds before the 555-day maturity, but it will affect your overall returns. The penalty for premature withdrawal is a 1% reduction from the interest rate that was applicable for the period the deposit was held.

Interest Rate For Indian Bank 555-Day FD Scheme 

The table below shows the latest Indian Bank FD rates: 

*Indian Bank 555-Days FD w.e.f Aug 01, 2025

Eligibility for Indian Bank 555-Days FD Scheme

Below are the people who are eligible for the Indian Bank 555-Days FD Scheme (IND GREEN):

• Working Professionals
• Business Owners
• Conservative Investors
• Senior Citizens
• Retirees

Tax Implications on the Indian Bank 555-Day FD Scheme

Interest earned on the Indian Bank 555-Day FD is taxable. The tax you pay depends on your income tax slabs, as the interest is added to your total income for the year. Banks deduct tax at source (TDS) on the interest if it crosses a certain limit: ₹50,000 for the general public and ₹1,00,000 for senior citizens.

To avoid TDS, you can submit Form 15G or Form 15H. These forms are a self-declaration that your total annual income is below the taxable limit, making you exempt from TDS. You must submit these forms to your bank every financial year.

Key Takeaways

Indian Bank 555-Days FD Scheme that offers a special interest rate of 6.80% for general citizens, 7.10% for Senior Citizens, and 7.35 % for super senior citizens for a tenure of 555 days. It is one of the safest options and a reliable FD offer, as it guarantees returns with assured safety, flexible investment, and a premature withdrawal option. The depositors can also submit the form to avoid the TDS applied on the interest earned.