Indian Bank Fixed Deposit Interest Rates
FD Interest Rate in Indian Bank 2022
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 3.30% to 5.75%.You can earn up to ₹ 26,250 per lakh by investing some money in a fixed deposit account.
| Time Duration | FD Interest Rates Today | Current FD Interest Rates for Senior Citizen |
|---|---|---|
| 7 days to 14 days | 2.80% | 3.30% |
| 15 days to 29 days | 2.80% | 3.30% |
| 30 days to 45 days | 2.80% | 3.30% |
| 46 days to 90 days | 3.25% | 3.75% |
| 91 days to 180 days | 3.85% | 4.35% |
| 121 days to 180 days | 3.50% | 4.00% |
| 181 days to 269 days | 4.40% | 4.90% |
| 9 months to 364 days | 4.40% | 4.90% |
| 1 year | 4.95% | 5.45% |
| 1 year 1 day to 1 year 364 days | 5.00% | 5.50% |
| 2 years to 2 years 364 days | 5.10% | 5.60% |
| 3 years to 4 years 364 days | 5.20% | 5.75% |
| 5 years to 10 years | 5.15% | 5.65% |
| 5 years | 5.25% | 5.75% |
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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:
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 2022:
| Tenure | Interest Rate |
|---|---|
| 7 days to 14 days | 2.80% |
| 15 days to 29 days | 2.80% |
| 30 days to 45 days | 2.80% |
| 46 days to 90 days | 3.25% |
| 91 days to 180 days | 3.85% |
| 121 days to 180 days | 3.50% |
| 181 days to 269 days | 4.40% |
| 9 months to 364 days | 4.40% |
| 1 year | 4.95% |
| 1 year 1 day to 1 year 364 days | 5.00% |
| 2 years to 2 years 364 days | 5.10% |
| 3 years to 4 years 364 days | 5.20% |
| 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. Fixed deposit interest rates for senior citizens in Indian Bank 2022 are as follows:
| Tenure | Interest Rate for senior citizens |
|---|---|
| 7 days to 14 days | 3.30% |
| 15 days to 29 days | 3.30% |
| 30 days to 45 days | 3.30% |
| 46 days to 90 days | 3.75% |
| 91 days to 180 days | 4.35% |
| 121 days to 180 days | 4.00% |
| 181 days to 269 days | 4.90% |
| 9 months to 364 days | 4.90% |
| 1 year | 5.45% |
| 1 year 1 day to 1 year 364 days | 5.50% |
| 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% |
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.
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
Description:
Who is eligible?
Description:
Who is eligible?
Earn upto ₹ 26,250 Per Lakh on Indian Bank Fixed Deposit?
To earn ₹ 26,250 per lakh on an online FD for 60 months:-
Note: Before investing in a fixed deposit account, you must compare the FD rates offered by different financial institutions. This way, you can earn the maximum returns.
Documents Required to Open Fixed Deposit Account in Indian Bank
FD Account Opening Process at Indian Bank
To open an Indian Bank Fixed Deposit, follow the steps as mentioned below:
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 3.8% to 6.25%
Maximum loan tenure is restricted up to the maximum tenure of the FD.
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.
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 deposits for a tenure of 10 months.
✅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 2.80% to 5.25%. Compared to this, Indian Bank senior citizens FD are in the range of 3.30% to 5.75%.
✅What are the current Indian Bank FD interest rates 2022?
Current interest for FD in Indian Bank ranges between 2.80% - 5.25%. for different tenure.The highest rate is offered on a tenure 5.75 months/years. For senior citizens the interest rates ranges bweteen 3.30% - 5.75%.
✅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 and there is no limit for maximum amount.
✅Did Indian Bank increase FD rates in 2022?
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 2.80% to 5.25% with effect from 08 Nov, 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
✅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. The highest interest rate is 5.25% for tenure
- 2021-11-09 : Indian Bank Slash Fixed Deposit Interest Rate
Indian Bank has revised the interest rate for fixed deposits on different tenures. Currently, the bank is offering a highest interest rate of 5.25 percent for 5 year tenure. Senior citizens fd rates are 0.50 percent higher than the general rates. - 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.
