Indian Bank Interest Rates on FD, Dec 2016

Last Updated 30th Nov 2016
Tenure General Rates Senior Citizen Rate
7 day to 14 day 4.00% 4.50%
15 day to 29 day 4.00% 4.50%
30 day to 45 day 4.50% 5.00%
46 day to 90 day 4.50% 5.00%
91 day to 120 day 5.25% 5.75%
121 day to 180 day 5.25% 5.75%
181 day to 269 day 5.75% 6.25%
9 month to 364 day 6.25% 6.75%
1 year to 6.50% 7.00%
1 year 1 day to 1 year 364 day 6.25% 6.75%
2 year to 2 year 364 day 6.25% 6.75%
3 year to 10 year 6.00% 6.50%

FD Interest Rates of Indian Bank

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  • Indian Bank offers FD interest rates upto 6.50% per annum.
  • Interest on deposits with Indian Bank is typically compounded quarterly.
  • Indian Bank accepts deposits starting at Rs. 100 for various tenures.
  • For senior citizens (age more than 60 years), Indian Bank offers higher interest rate over and above rates mentioned below.
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FD Maturity Amount

Indian Bank Fixed Deposit – Premature Withdrawl

  • You may break you FD and withdraw your money subject to minimum moratorium requirements.
  • However, in case of premature withdrawal, Indian Bank pays 2% lower ROI than that applicable for actual duration of deposit.

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About Indian Bank

Indian Bank is a public sector nationalized bank headquartered in Chennai, Tamil Nadu, India. It is one of the indigenous banks of India that emerged as a result of the Swadeshi Movement during the British Raj. The bank was established on 15th of August, 1907. At present the bank has over 2,100 branches in India and overseas branches in Singapore, Colombo and Jaffna and 240 Overseas Correspondent banks in 70 countries. The bank has 755 connected ATMs installed in 225 locations nationwide. Indian Bank offers a wide variety of Banking Products and Services to its customers, including various Deposit Schemes, Loan Options, Financial Services, Stock Investment Services and a number of specialized services such as Remittance, Collection, 7 Day Banking Branches, Cash Management and Electronic Funds Transfer. In 2004, Indian Bank got the Best Commercial Bank award. Same year the bank got prize for granting loans to self-help groups (SHGs) in Andhra Pradesh. The total business of the bank as on 31.03.2014 was Rs. 2,86,633 crores and the net profit was Rs. 1,159 crores. The bank established 45 specialized exclusive Microfinance branches called "Microsate" across the country to cater the needs of urban poor through SHG (Self Help Group) and JLG (Joint Liability Group) concepts.

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News - Dec 2016
02nd Dec 16 ICICI Bank reduces its MCLR by 5 basis points
ICICI Bank has reduced its overnight and three months marginal cost of lending rate by 5 basis points to 8.70 and 8.80 percent respectively. ICICI Bank has also reduced its one year lending rate to 8.90 percent from 8.95 percent earlier. Revised rates are effective from 1st December, 2016.
02nd Dec 16 Kotak Mahindra Bank cuts MCLR up to 30 basis points
Kotak Mahindra Bank has reduced its six months and one year marginal cost of lending rate to 9.05 and 9.20 percent from 9.20 and 9.45 percent respectively. The bank has reduced its three year lending rate by 30 basis points to 9.25 percent from 9.55 percent earlier. Revised rates are effective from 1st December, 2016.
02nd Dec 16 Manappuram to launch Anytime Pawn Machines for instant gold loans
Manappuram Finance, leading gold loan company, has announced the launch of a new scheme to provide instant gold loans to customers. Under the scheme, company will install Anytime Pawn Machines nationwide. The machine will issue the new currency notes to customers in exchange of their gold and jewellery.
02nd Dec 16 Muthoot Finance to launch an instant gold loan scheme for customers
Muthoot Finance has announced the launch of an instant gold loan scheme for its customers. As a part of the scheme, Anytime Pawn Machines will be installed that will issue new currency notes to the customers in exchange of their gold jewellery. The machine will use laser technology to check the weight and purity of gold before issuing cash.
02nd Dec 16 Bajaj Finance to provide an attractive offer to personal loan buyers
Bajaj Finance, a lending arm of Bajaj Financial Services has announced an attractive offer to boost up the personal loan business. Under the offer, company will provide free airline vouchers of Rs. 12,000 to the customers availing personal loan. Personal loan buyers will also get an extra benefit of selecting the destination of their choice. The offer is valid from 28th November to 4th December, 2016.
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