Types of Indian Bank FD Schemes

1. Indian Bank Regular Fixed Deposit Scheme

Tenure	Range from 7 days to 10 years
Deposit Amount	Minimum deposit amount is Rs 1,000 Maximum deposit amount – no maximum limit.
Interest Offered	For Regular Deposit – 2.8% to 6.70% For Senior citizen – 3.3 % to 7.20%
Eligibility	A regular fixed deposit scheme can be opened by a resident Indian, a public or private limited company, a HUF, a trust, or a partnership firm.
Special Categories of Customers	Additional 0.50% p.a interest will be offered to senior citizen for the amount upto Rs 10 crore.
Premature Withdrawal Facility	Premature facility is available
Renewal of Deposit	Possible
Loan Facility	Available to get loan of some portion of Fixed Deposit.
Payment of Interest	Interest can be payable monthly , quaterly or annually or at the time of maturity

2. Indian Bank Short Term Deposit scheme

Tenure	7 days to 180 days
About	This deposit allows individuals to invest their money in deposit for the short period of time .
Deposit Amount	Minimum deposit amount is Rs 1,000 Maximum deposit amount – no maximum limit.
Interest Offered	For Regular deposit – 2.80% to 4.75% p.a
Eligibility	It can be opened by a resident Indian, a public or private limited company, a HUF, a trust, or a partnership firm.
Special Categories of Customers	Additional 0.50% p.a interest will be offered to senior citizen for the amount upto Rs 10 crore. Additional 1 % p.a interest will be offered to staff for the amount upto Rs 2 crore. Additional 1.50% p.a interest will be offered to Ex staff senior for the amount upto Rs 10 crore.
Premature Withdrawal Facility	Available
Renewal of Deposit	Available
Loan Facility	Available to get loan upto some percentage of Fixed Deposit.
Payment of Interest	Interest will be payable at the time of maturity with principal subject to TDS.

3. Indian Bank Tax Saver Term Deposit Scheme

About	Depositors are eligible for a tax benefit under Section 80C of the Income Tax Act. The advantage is available for deposits of up to INR 1,50,000 per year.
Tenure	Minimum – 5 years Maximum – 10 years
Deposit Amount	Minimum – Rs 1000 Maximum – Rs 150000 in a financial year.
Interest Offered	Upto 5 years – For Regular Deposit – 6.25% and For Senior citizen – 6.75 % . More than 5 years upto 10 years – For Regular Deposit – 6.10% and For Senior citizen – 6.60 % .
Special Categories of Customers	Additional 0.50% p.a interest will be offered to senior citizen.
Premature Withdrawal Facility	premature of foreclosure allowed upto 5 years
Renewal of Deposit	Allowed at the time of maturity
Loan Facility	No loan facility allowed upto 5 years
Payment of Interest	Interest can be payable monthly , quaterly

4. Money Multiplier Deposits

Tenure	Minimum – 6 months Maximum – 10 years
Deposit Amount	Minimum deposit amount is Rs 1,000 Maximum deposit amount – no maximum limit.
Special Categories of Customers	Additional 0.50% p.a interest will be offered to senior citizen.
Premature Withdrawal Facility	Premature withdrawal facility is available.
Renewal of Deposit	Automatic renewal of FD available.
Loan Facility	Available to get loan upto some percentage of Fixed Deposit.
Payment of Interest	Interest can be payable Quaterly . It allows you to earn interest on both the principal and the interest which is already earned.

5. IND Non-Callable Deposit

Tenure	Minimum – 7 Days Maximum – 10 years
Deposit Amount	Minimum deposit amount – Above ₹5.00 Crore Maximum deposit amount – no maximum limit
Premature Withdrawal Facility	Not available during the deposit tenure period.
Payment of Interest	Interest can be payable Monthly , Quaterly
Renewal of Deposit	Automatic renewal of FD available.
Loan	Demand Loan/Overdraft facility will be provided at the bank’s discretion and in accordance with existing criteria.

Indian Bank FD Interest Rates 2024

Indian Bank is a nationalized banking and financial services company with its main office located in Chennai, Tamil Nadu. It is owned by the Government of India (Ministry of Finance). Serving more than 100 million customers, it is regarded as one of India’s best-performing public sector banks. Customers of Indian Bank have access to a wide range of FD options that allow them to secure their funds and earn interest. The interest on savings accounts is often lower than the rates offered by Indian banks on fixed deposits. When opening an account, a customer must deposit at least the required minimum amount. Once the account is opened, the consumer cannot make any changes or make more deposits.

For fixed deposits below ₹2 crore, the interest rate varies from 2.80% to 6.70% annually. The maturity period can range from seven days to over five years. The bank gives senior citizens who deposit up to ₹2 crore an extra interest rate of 0.50% p.a. The deposit rates under the “IND Super 400 days” special program vary from 7.25% to 8.00%.

Table of Content

Indian Bank FD Interest Rates: Less than ₹2 crore
Indian Bank FD Interest Rates: ₹2 crore to ₹5 crore
Benefits of Indian Bank Fixed Deposit
Types of Indian Bank FD Schemes
How to Invest in Indian Bank FD?
Eligibility to Open an Indian Bank FD Account
Documents Required to Open Indian Bank FD
Tax on Indian Bank Fixed Deposit
Loan Against Indian Bank FD
Premature Closure of Indian Bank Fixed Deposit
FAQs