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Indian Bank RD Interest Calculator

RD Calculator Indian Bank in India Jul 2021

Last Updated 15th Jul 2021

Tenure General Rates Senior Citizen Rates
180 days 3.95% 4.45%
181 days to 269 days 4.45% 4.95%
9 months to 364 days 4.45% 4.95%
1 year 5.25% 5.75%
1 year 1 day to 1 year 364 days 5.15% 5.65%
2 years to 2 years 364 days 5.15% 5.65%
3 years to 10 years 5.15% 5.65%

    Calculate RD Maturity Amount of All Banks in India

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    Indian Bank RD Calculator
    Investment Offers with High Returns offerOffers
    Bank/NBFCs Rate Tenure Action
    Bajaj Finance FD6.75%60 MonthsAPPLY
    PNB Housing Finance FD6.95%60 MonthsAPPLY
    Yes Bank Savings Account5.50%N.A.APPLY

    Indian Bank Recurring Deposit Calculator

    Indian Bank, a leading Public Sector Bank in India offers attractive interest rates upto 5.25% on its Recurring deposits.
    RD maturity amount that you will get depends upon

    • Deposit amount
    • Rate of interest
    • RD tenure
    • Compounding frequency
    • TDS applicability and TDS rate

    Indian Bank Recurring Deposit Interest Calculator

    • In a periodic interest payout option, Indian Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain same across the life of the deposit. On maturity of RD, unless the deposit is renewed, would transfer the principal amount to your bank account.
    • In case you opt for a Indian Bank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
    • Calculate the RD maturity amount using the RD calculator.

    Tax on Recurring Deposit Indian Bank

    • In case the interest earned by you across all your recurring deposits across all branches of Indian Bank in a year exceeds 10,000, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the Indian Bank records, it must deduct twice the TDS at 20.6%. So, do remember to update your PAN on your RD.
    • We aren’t done yet. This was only the TDS. Now, you would need to add the interest income on all your Indian Bank RD’s and other RD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. You must estimate the interest income and all your other incomes and, based on this, pay advance tax on advance tax payment dates (15th Sep, 15th Dec, 15th March and 31st March).
    • Indian Bank will also issue you a Form 16A giving details of tax deducted on RD interest and tax deposited by it with government treasury. The TDS amount deposited by the bank with Income Tax Department can be verified in your 26AS statement available online on IT department website or through your net banking account. You can claim credit for the TDS amount in your annual Income Tax Return.

    Indian Bank RD interest rate calculator – Check your city

    • Keep your KYC documents - PAN card, address proof and photo ready.
    • To know more or apply, contact any of the branches of Indian Bank in your city

    FAQs

    What is the highest interest earned on Indian Bank recurring deposit?

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

    Are there any extra benefits for senior citizens on fixed deposit of Indian Bank?

    Yes, senior citizens get extra benefit of 0.5% interest rates on their RD in Indian Bank.


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    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.
    *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
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