4,80,000 people visited this section in last 30 daysApply Online

MyLoanCare - Baat Aapke Interest Ki

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

Indian Bank FD Interest Rates 2021

Indian Bank FD Interest Rates

Last Updated 15th Jul 2021

When it comes to the FD interest rate, the highest rate offered on Indian Bank FD is 5.25%. Latest Indian Bank FD interest rate for senior citizens, on the other hand ranges between 3.40% to 5.75%.

Tenure FD interest rates Senior Citizen FD interest rates
7 days to 14 days 2.90% 3.40%
15 days to 29 days 2.90% 3.40%
30 days to 45 days 2.90% 3.40%
46 days to 90 days 3.25% 3.75%
91 days to 180 days 3.95% 4.45%
Earn upto 6.95% on FD APPLY NOW

Indian Bank Fixed Deposit Features

Indian Bank FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of Indian Bank Fixed Deposit are:

  • Deposit Amount : Indian Bank FD can be opened with an amount as a low ₹ 100 to up to No Limit.
  • FD Tenure : Ranges between 7 days to 5 years.
  • Interest Rate Range : 2.90% p.a. to 5.25% p.a.
  • Senior Citizens FD Rate : 3.40% p.a to 5.75% p.a.
  • Highest Interest Rate : As per today’s rate, Indian Bank’s highest interest rate on FD is 5.25% offered for a tenure of 5 years.
  • Safety of Indian Bank Deposits : Indian Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD : Indian Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Re investment plan, Regular Fixed Deposit

Indian Bank FD Interest Rates Today

Interest rates on Indian Bank deposits are updated regularly by the Government of India. The following are updated Indian Bank FD interest rates 2021:

Tenure Interest Rate
7 days to 14 days 2.90%
15 days to 29 days 2.90%
30 days to 45 days 2.90%
46 days to 90 days 3.25%
91 days to 180 days 3.95%
121 days to 180 days 3.95%
181 days to 269 days 4.40%
9 months to 364 days 4.40%
1 year 5.00%
1 year 1 day to 1 year 364 days 5.10%
2 years to 2 years 364 days 5.10%
3 years to 4 years 364 days 5.25%
5 years to 10 years 5.15%
5 years 5.25%

Indian Bank FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, Indian Bank offers a higher interest rate to senior citizens than the general public. Listed below are the Indian Bank fixed deposits interest rates for senior citizens 2021:

Tenure Interest Rate for senior citizens
7 days to 14 days 3.40%
15 days to 29 days 3.40%
30 days to 45 days 3.40%
46 days to 90 days 3.75%
91 days to 180 days 4.45%
121 days to 180 days 4.45%
181 days to 269 days 4.90%
9 months to 364 days 4.90%
1 year 5.50%
1 year 1 day to 1 year 364 days 5.60%
2 years to 2 years 364 days 5.60%
3 years to 4 years 364 days 5.75%
5 years to 10 years 5.65%
5 years 5.75%

Best FD Plan as per Indian Bank FD Rates

To invest in Indian Bank fixed deposit, you must compare Indian Bank Fixed Deposit Rates for varying tenures. Indian Bank FD Interest Rates 2021 are best for the deposits with a tenure of 3 years to 5 years, wherein the current Indian Bank Fixed Deposit Interest Rates is 5.25 p.a.

If you are looking to invest in short term deposits with Indian Bank, the interest rate of Indian Bank for FD ranges from 2.90% p.a. to 4.40% p.a. These deposits are known as short term deposits and are offered with a tenure of 7 days to less than 365 days. Short term Indian Bank Fixed Deposit Rates for senior citizens range from 3.40% to 4.90% p.a.

If you want to invest in long term deposits, Indian Bank Fixed Deposit Rates with tenure ranging from 5 years to 10 years are a good choice with interest rates on deposits at 5.15%.Indian Bank Senior citizens FD Rates are offered at special rates with the highest deposit rates of5.65% p.a. on long term FDs.

Below-mentioned is some of the benefits of opening an FD account in Indian Bank:

  • Interest on deposit is paid only at the time of the maturity
  • Indian Bank also offers a nomination facility on its fixed deposits.
  • Extra interest of 0.25% to 0.50% is payable to the senior citizens.
  • Availability of auto-renewal facility on the deposit.
  • Earn higher returns on the money deposited.

Indian Bank Fixed Deposit Rate Trends

Indian Bank has cut interest rates on fixed deposits with effect from 09 Jul, 2021. The new Indian Bank highest FD rate is currently at 5.25%, which is an decrease of 0.15% from the previous highest rate of 5.40%. Currently, Indian Bank FD rate for upto 1 year is 2.90% and 5.25% for 5 year FD.

Documents required to open Fixed Deposit Account in Indian Bank

  • 2 Photographs
  • Identity Proof: PAN Card, Voter ID Card, Passport, Driving License
  • Address Proof: Telephone Bill, Electricity Bill, Bank Statement With Cheque
  • Age proof (Birth certificate, matriculation certificate, etc,)
  • Passport size photographs
  • Bank A/c details

Indian Bank Fixed Deposit Rates – Premature Withdrawal

You can close your Indian Bank FD account prematurely, however Indian Bank charges a penalty of 1% for deposits above Rs. 5 lakh for premature withdrawal. Also, The penal provisions for premature closure on Indian Bank FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit Indian Bank

Indian Bank offers loans up to 90% against its own deposit. Note that Indian Bank will not give you loan against FD of any other bank. Indian Bank offers Loan against FD at the rate of 3.9% to 6.25%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in Indian Bank. The borrower later decided to take a loan against his FD. The bank has approved a credit limit of 90% against his FD at 10% interest rate. Now, if the borrower draws ₹ 90,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on ₹ 90,000 available for 1 month only. The amount he repays after 1 month is ₹ 90,744. So, the interest charged on the loan taken is ₹ 744.

FD Account Opening Process at Indian Bank

To open an Indian Bank Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of Indian Bank and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the Indian Bank FD after reading the terms and conditions.

To open a Fixed Deposit account in Indian Bank, you can visit the official website and login to your account. Choose the Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the Indian Bank FD after reading the terms and conditions.

Nomination Facility on Indian Bank FD

Indian Bank also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an Indian Bank FD account. The nominee has to submit his/her identification proof at the time of claim.

Indian Bank Fixed Deposit Scheme

Re investment plan

Description:

  • This is a term deposit which reinvests all earned dividends, capital gains, and interest back into buying units or shares, rather than paying out in physical cash.
  • Availability of auto renewal facility
  • Nomination facility available
  • Interest on deposit is compounded quarterly
  • Loan facility upto 90 per cent is available on the deposit
  • Interest earned on deposit is subject to TDS

Who is eligible?

  • Resident Indians, private or public limited company, hindu undivided family, trust and partnership firm
Regular Fixed Deposit

Description:

  • This deposit scheme allows the depositor to make investment into the deposit to earn higher returns along with a flexibility and liquidity.
  • Automatic renewal facility for equal period
  • Nomination facility available
  • Earn interest with ease liquidity

Who is eligible?

  • Resident Indians, private or public limited company, hindu undivided family, trust and partnership firm

FAQs

What is the highest fixed deposit interest rate for Indian Bank?

You can earn a maximum interest of 5.25% on Indian Bank fixed deposit.

Are there any special rates for senior citizens FD of Indian Bank?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 2.90% to 5.25%. Compared to this, Indian Bank senior citizens FD are in the range of 3.40% to 5.75%.

What are the current Indian Bank FD interest rates 2021?

Current interest for FD in Indian Bank ranges between 2.90% - 5.25%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with Indian Bank?

The minimum deposit amount required to book an FD with Indian Bank is ₹ 100.

Did Indian Bank increase FD rates in 2021?

No, Indian Bank has reduced its Fixed Deposit rates by upto 0.15%. The best rate on Indian Bank FD has been cut to 5.25% from 5.40% earlier. The fixed deposit rates of Indian Bank are now in the range of 2.90% to 5.25% with effect from 09 Jul, 2021.

Is it possible to change the tenure of my existing fixed deposit account with Indian Bank?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with Indian Bank without their PAN card

  • Your TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

Can a customer open an FD account online in Indian Bank?

Yes, you can submit your application for opening an FD account on the website of Indian Bank. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.

In how many years FD will double in Indian Bank?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 5.25%. For Indian Bank FD the number of years in which your FD will get doubled is; 72/5.25 = 14

What is the interest of 1 lakh in the Indian Bank?

The interest on Indian Bank fixed deposit depends on the tenure of the FD for which it is deposited. Below mentioned is the Indian Bank FD interest rate 2021 across different tenures.

TenureInterest Rate
7 days to 14 days 2.90%
15 days to 29 days 2.90%
30 days to 45 days 2.90%
46 days to 90 days 3.25%
91 days to 180 days 3.95%
121 days to 180 days 3.95%
181 days to 269 days 4.40%
9 months to 364 days 4.40%
1 year 5.00%
1 year 1 day to 1 year364 days 5.10%
2 years to 2 years 364 days 5.10%
3 years to 4 years 364 days 5.25%
5 years to 10 years 5.15%
5 years 5.25%


Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 7.55%. Cashback of up to ₹ 1,000.

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 10.50%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
Indian Bank News - Jul 2021
  • 2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
    The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly.
  • 2021-06-01 : Indian Bank reported a Q4 profit of 1,709-cr
    Indian Bank reported a net profit of Rs 1,708.85 crore in the March-ended quarter. Total income during the January-March quarter of 2020-21 increased to Rs 10,647.87 crore. It was Rs 6,334.37 crore in the same period of 2019-20. The net profit of the bank backed by retail loan like home, LAP, personal, two-wheeler, car education and doctor loan along business and mudra loan was recorded at Rs 3,004.68 crore.
  • 2020-02-11 : Revised FD rates for Indian Bank
    Indian Bank changed its fixed deposits rate. FD rate for 7 to 45 days is 4.50%, for 46 to 90 days it is 5% and 91 to 120 days it is 5.50%. The fixed deposit rate for 121 days to 364 days is 5.75%. Further, the FD rate for one year is 6.40%, above one year to less than two years it is 6.30% and for and above two years it is 6.25%. The revised rates will be effective from 10 February 2020.
  • 2020-01-06 : New FD rates for Indian Bank
    With effect from January 3, 2020, Indian Bank revised its interest rates on FD on certain tenors by 5-25 basis points. The rate is reduced by 25 basis points for a period of 91-120 days to 5.50%, and for 121 days to less than a year it is set at 5.75%. For a period of one year the FD rate is reduce by 5 basis points to 6.40%. In addition to that, the rate is reduced by 20 basis points above 1 to 2 years and by 25 basis points for 2 years and above. For tenors of 7-90 days the rates remain unchanged.
  • 2019-11-06 : New FD rates for Indian Bank for certain tenures
    Valid from November 4, 2019, Indian Bank revised its fixed deposit rates on certain tenures. The rates remain the same for some periods. For 7-45 days, the interest rate remains at 4.50%; for 46-90 days, the rate is 5.00%, rate for 91-120 days is 5.75%, and for 121 days to 1 year, the fixed deposit rate is unchanged at 6.00%. In addition to that, for one year, the new rate is 6.45%, and for 1-2 years, the revised rate is 6.50%. Even for 2-5 years and for five years and above the rates remain unchanged at 6.50% and 6.30% respectively.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
Loader
Please wait while your information is being processed...