Indian Bank Interest Rates on FD, Oct 2016

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Last Updated 19th Oct 16

TenureInterest Rate
30 Days5.75%
45 Days 5.75%
60 Days 6.25%
90 Days 6.25%
120 Days 6.25%
6 Months 6.50%
9 Months 7.25%
12 Months 7.25%
18 Months 7.25%
2 Years 7.25%
3 Years 7.00%
4 Years 7.00%
5 Years 7.00%
7 Years 7.00%
10 Years 7.00%

Indian Bank FD Interest Rates

  • Indian Bank offers FD interest rates upto 7.25% 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 0.50% higher interest rate over and above rates mentioned below.

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.

Loan against Indian Bank FD

  • Indian Bank offers loan upto 90% against its own deposit. Note that you cannot obtain a loan against FD from another bank.
  • Applicable rate of interest on loan against FD is typically 0.5% to 2% over the fixed deposit rate.

Indian Bank Interest Rates in your city. How and where to apply?

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • In case you already hold an account with Indian Bank, you don’t need to submit KYC documents again.
  • To know more or apply, contact any of the branches of Indian Bank in your city - Find Indian Bank Branches here

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 - Oct 2016
22nd Oct 16 SBI asks customers to use its own ATMs after the cyber attack hits 3.2 million debit cards
SBI advised its customers to use its own ATM networks for safety of transactions. The Bank also promised to replace 6 lakh debit cards which were blocked by the bank as a preventive measure within ten days following a cyber security breach in the country banking system. The other major banks hit by the cyber fraud are Axis Bank, HDFC and ICICI Bank.
18th Oct 16 Axis Bank cuts it benchmark MCLR by 5 base point rates
Axis Bank has cut it benchmark MCLR base rate by 5 bps. The bank has reduced its rates across tenures effectively reducing the overnight rates to 8.80 per cent and three year rate to 9.35 percent. The bank announced the reduction after its peers such as ICICI, Kotak Mahindra and Indian Bank cut their lending rates following the RBI monetary policy review on October 4th, 2016.
18th Oct 16 Citibank gives special Diwali offers on personal loans
Citibank personal loan offers reduction in rates to 11.49 per cent for digital channels and online applications made at MyLoanCare. Bank offers 0.50 per cent discount on processing fee and an Amazon Gift Voucher of Rs. 250 for loans disbursed till 3rd November, 2016. Also, get a Flipkart Gift Voucher upto Rs. 2500 on applying through MyLoanCare.
15th Oct 16 ICICI Bank tests blockchain transactions
ICICI Bank has done successful execution of its first two transactions using blockchain technology. Now other private sector banks are gearing up for the technology. Axis Bank and Kotak Mahindra Bank are conducting pilot transactions in trade settlements and cross border remittances, while HDFC is still assessing the opportunity.
14th Oct 16 PNB Housing Finance cuts home loan rates by 10 basis points
PNB Housing has reduced its home loan rates by 10 bps. The floating home loan rates have been reduced to 9.45 per cent from 9.55 per cent while fixed rates decreased to 9.4 from 9.5 per cent. PNBHFL has also cut its loan against property rates by 25 bps to 11 per cent from 11.25 per cent. This rate cut will be effective from 14th October, 2016.