Indian Bank hikes interest rates on fixed deposits: Check new rates here

Indian Bank FD Rates

The bank will continue to offer 2.80% interest rate on fixed deposits maturing in 7 days to 29 days and 3% interest rate on fixed deposits maturing in 30 days to 45 days. Fixed deposits maturing between 46 and 90 days will continue to earn 3.25% interest, while fixed deposits maturing between 91 and 120 days will continue to pay 3.50% interest. According to Indian Bank, the bank will continue to offer an interest rate of 3.75% on fixed deposits maturing in 121 days to 180 days and 4% on fixed deposits maturing in 181 days to less than 9 months.

Fixed deposits maturing in 9 months to less than 1 year will still pay an interest rate of 4.40%, while those maturing in 1 year will now earn an interest rate of 5.45%, an increase from 5.30% earlier was 15 basis points. , On fixed deposits maturing in more than 1 year to less than 2 years, the bank will now fetch an interest rate of 5.50% which was earlier 5.40% an increase of 10 bps and for fixed deposits maturing in less than 3 years from 2 years On deposits, Indian Bank will now fetch an interest rate of 5.55% from 5.50% earlier, an increase of 5 bps. Indian Bank will now offer an interest rate of 5.75% as against an increase of 5.60% earlier from 3 years to 5.60% on deposits maturing in less than 5 years and bank on fixed deposits maturing in 5 years and above Will now offer interest rate. 5.65% which was 5.60% earlier.

Indian Bank has mentioned on its website that “the revised interest rates on domestic fixed deposits are applicable only on renewal of fresh deposits and mature deposits.”

Indian Bank on its website states that “For domestic fixed deposits for senior citizens, the additional rate of interest payable will be 0.50% p.a. 100 million. In respect of short term deposits, fixed deposits and money multiplier deposit schemes, an additional rate will be offered on deposits of 15 days to 10 years from the card rate. Similarly, for recurring deposit accounts, an additional rate of interest will be eligible for a period of 6 months to 120 months (in multiples of 3 months).”

Indian Bank also offers a special Fixed Deposit Scheme for Super Senior Citizens called “IB – Golden Age” for which it has specified on its website that “A Special Fixed Deposit Account for Super Senior Citizens” (age 80 years) and above). 0.25% higher interest rate on fixed deposits across all deposit buckets in addition to the additional rate currently being offered to normal senior citizens.

On fixed deposits maturing above 5 years to 10 years, Indian Bank offers an aggregate benefit of 0.75% which is 0.25% additional to the existing premium of 0.50%. For the same Indian Bank has stated on its website that “A special offer for Senior Citizens (60 years and above): 0.25% interest rate over and above the additional rate currently being offered for normal senior citizens.” Fixed Deposit (0.50+0.25 = 0.75) for Deposit Bucket “Over 5 years up to 10 years”.

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