New and Attractive Interest Rates

w.e.f. February 18, 2021

. Premature withdrawal facility is available on the term deposits held in Indian Bank. Interest rates on term deposits vary in the range of 4.50% per annum – 6.75% per annum. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates. Bank Fixed Deposit: Check latest interest rates for general customers, senior citizens - Many banks, including big ones like the SBI, HDFC, and Axis Bank, offer interest rates in the range of 7 per cent to 7.5 per cent on fixed deposits. Interest rate for IOB Tax Saver Deposit shall be 5.20%. For Retired Staff, applicable interest rate will continue to be governed by guidelines in force from time to time. The revised Interest Rates on NRE term deposit rates (W.E.F ) are mentioned below. For Deposits of Rs. 2 Crore and above. The interest offered by the bank on these deposits is around 6.30% Long-term Deposits: These deposits have their tenure ranging from 5 years to 10 years and offer an interest rate of 6.25%. Premature Withdrawal of Indian Bank Fixed Deposits Indian Bank levies a 1% interest rate from the contracted rate for deposits above 5 lakh.

Please note :

• Interest Rate per annum (%).
• Special interest rates quoted above are applicable for deposits of value less than Rs. 2 crores only.
• These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter.
• In case of monthly interest payout, interest shall be calculated for the quarter and paid monthly at a discounted rate in line with RBI directives.
• In case of deposits where interest is paid out at maturity (cumulative interest bearing deposits), interest is calculated and compounded every quarter, basis account opening date. This interest amount so calculated is added to the principal amount in your term deposit account at the end of every calendar quarter.
• The Bank considers both a leap year (366 days) and a non-leap year (365 days) as 1 completed year for calculating the tenure of a fixed deposit. In case a customer books a fixed deposit for 1 year in a leap or a non-leap year, the interest applicable on this deposit will be for the tenure 1 year. Similarly if a customer books a fixed deposit for 2 years, which is spread over a leap year and a non-leap year, the interest applicable on this deposit will be for the tenure > 1.5 Yrs - 2 Yrs. This condition will be applicable for all tenures >=1 year spanning a leap year and a non-leap year

NRE Fixed Deposit Rates

w.e.f. February 18, 2021

• Initial minimum fixed deposit size is Rs. 20,000.
• Premature withdrawal:
  For Single Deposit of less than Rs. 2 crores
  • Less than 1 year : no interest
  • 1 year & above : In case of premature withdrawal of fixed deposits, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the rate as on the date of booking for the period for which the deposit has run. This will be applicable for all deposits including renewals
• Interest rates are subject to change without prior notice.
• These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter.
• In case of deposits where interest is paid out at maturity (cumulative interest bearing deposits), interest is calculated and compounded every quarter, basis account opening date. This interest amount so calculated is added to the principal amount in your term deposit account at the end of every calendar quarter.
• The Bank considers both a leap year (366 days) and a non-leap year (365 days) as 1 completed year for calculating the tenure of a fixed deposit. In case a customer books a fixed deposit for 1 year in a leap or a non-leap year, the interest applicable on this deposit will be for the tenure 1 year. Similarly if a customer books a fixed deposit for 2 years, which is spread over a leap year and a non-leap year, the interest applicable on this deposit will be for the tenure > 1.5 Yrs - 2 Yrs. This condition will be applicable for all tenures >=1 year spanning a leap year and a non-leap year

Domestic / NRO Fixed Deposit Rates

w.e.f. February 18, 2021

Please note :

• Interest Rate per annum (%).
• Special interest rates quoted above are applicable for deposits of value less than Rs. 2 crores only.
• No interest is payable for deposits withdrawn prematurely before 7 days.
• Premature withdrawal
  In case of premature withdrawal of fixed deposits on 7th day or thereafter, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the rate as on the date of booking for the period for which the deposit has run. This will be applicable for all deposits including renewals.
• Minimum fixed deposit amount is Rs. 20,000.
• Interest Rates are subject to change without prior notice.
• The following interest payout options available for the customer
  • Monthly
  • Quarterly
  • Cumulative
• *Applicable only for Retail Deposits - Resident Indian Senior Citizens i.e. Resident Individuals of age
  60 years & above and excludes Non-Resident individuals, Individuals in their capacity as a Karta in HUFs and all non individuals. Incase of joint accounts the first holder should be a senior citizen to avail of these rates.
• These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter.
• In case of monthly interest payout, interest shall be calculated for the quarter and paid monthly at a discounted rate in line with RBI directives.
• In case of deposits where interest is paid out at maturity (cumulative interest bearing deposits), interest is calculated and compounded every quarter, basis account opening date. This interest amount so calculated is added to the principal amount in your term deposit account at the end of every calendar quarter.
• The Bank considers both a leap year (366 days) and a non-leap year (365 days) as 1 completed year for calculating the tenure of a fixed deposit. In case a customer books a fixed deposit for 1 year in a leap or a non-leap year, the interest applicable on this deposit will be for the tenure 1 year. Similarly if a customer books a fixed deposit for 2 years, which is spread over a leap year and a non-leap year, the interest applicable on this deposit will be for the tenure > 1.5 Yrs - 2 Yrs. This condition will be applicable for all tenures >=1 year spanning a leap year and a non-leap year

Domestic / NRO and NRE Fixed Deposit Rates greater than or equal to Rs. 2 crores

For rates greater than or equal to Rs. 2 crores please click here

Interest rates for deposits greater than or equal to Rs. 2 crores are updated on a daily basis and interest rates updated on a Friday are valid for the following Saturday and Sunday. In case of non-updation of today’s interest rate, please revisit later to check the updated rates.

Please note :

• Interest Rate per annum (%).
• Interest Rates are subject to change without prior notice.
• No interest is payable for Resident / NRO deposits withdrawn prematurely before 7 days.
• No interest is payable for NRE deposits withdrawn prematurely before 1 year.
• Premature withdrawal for Resident / NRO deposits
  In case of premature withdrawal of fixed deposits on 7th day or thereafter, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the card rate for deposits greater than or equal to Rs. 2 crores as on the date of booking and for the period for which the deposit has run. This will be applicable for all deposits including renewals.
• Premature withdrawal for NRE deposits
  In case of premature withdrawal of fixed deposits on 1 year or thereafter, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the card rate for deposits greater than or equal to Rs. 2 crores as on the date of booking and for the period for which the deposit has run. This will be applicable for all deposits including renewals.
• The following interest payout options available for the customer
  • Monthly
  • Quarterly
  • Cumulative
• These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter.
• In case of monthly interest payout, interest shall be calculated for the quarter and paid monthly at a discounted rate in line with RBI directives.
• The Bank considers both a leap year (366 days) and a non-leap year (365 days) as 1 completed year for calculating the tenure of a fixed deposit. In case a customer books a fixed deposit for 1 year in a leap or a non-leap year, the interest applicable on this deposit will be for the tenure 1 year. Similarly if a customer books a fixed deposit for 2 years, which is spread over a leap year and a non-leap year, the interest applicable on this deposit will be for the tenure > 1.5 Yrs - 2 Yrs. This condition will be applicable for all tenures >=1 year spanning a leap year and a non-leap year.

Interest Rates for Recurring Deposit

w.e.f. February 18, 2021

Please note :

• Minimum ticket size of Rs. 5,000 to a maximum of Rs. 200,000.
• Minimum tenure of 12 months (in multiplies of 3 months thereafter).
• Maximum tenure of 60 months.
• The interest on Recurring Deposits will be calculated by the bank in accordance with the directions advised by Indian Banks' Association.
• Interest on Recurring Deposits will be paid out on maturity.
• Premature withdrawal:
  In case of premature withdrawal of recurring deposits, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the rate as on the date of booking for the period for which the deposit has run. This will be applicable for all deposits including renewals.
• If the Recurring Deposits is broken within 14 days from the date of booking, no interest will be paid.
• Interest Rates are subject to change without prior notice.
• Partial withdrawal is not allowed for recurring deposits.
• In case an installment is failed, SI failure charges as per schedule of charges will be applicable.
• *Applicable only for Retail Deposits - Resident Indian Senior Citizens i.e. Resident Individuals of age
  60 years & above and excludes Non-Resident Individuals, Individuals in their capacity as a Karta in HUFs and all non individuals. Incase of joint accounts the first holder should be a senior citizen to avail of these rates.
• These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter.
• In case of deposits where interest is paid out at maturity (cumulative interest bearing deposits), interest is calculated and compounded every quarter, basis account opening date. This interest amount so calculated is added to the principal amount in your term deposit account at the end of every calendar quarter.
• The Bank considers both a leap year (366 days) and a non-leap year (365 days) as 1 completed year for calculating the tenure of a fixed deposit. In case a customer books a fixed deposit for 1 year in a leap or a non-leap year, the interest applicable on this deposit will be for the tenure 1 year. Similarly if a customer books a fixed deposit for 2 years, which is spread over a leap year and a non-leap year, the interest applicable on this deposit will be for the tenure > 1.5 Yrs - 2 Yrs. This condition will be applicable for all tenures >=1 year spanning a leap year and a non-leap year.

Apply for Fixed Deposit

SMS FD to 561615

Call 18602666601^#

Indian Bank Fixed Deposit Interest Rates 2021

^#Customers outside India need to dial +91 22 6601 6601. Customers in Mumbai can also call at +91 22 6601 6601. Call charges apply.

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