Indian Bank, a major public sector lender, hiked interest rates on fixed deposits. 2 crores. According to the official website of the bank, the new rates are effective from today, October 29, 2022. After the revision, the bank increased the interest rates by up to 90 bps on deposits maturing in 1 year to 5 years or more. Indian Bank is now offering interest rates on deposits maturing in 7 days to 5 years which range from 2.80% to 6.30%. After today’s change, deposits maturing in 2 years to less than 3 years will now attract a maximum interest rate of 6.50% in Indian Bank.
Indian Bank FD Rates
The interest rate on fixed deposits maturing in 7 days to 29 days remains stable at 2.80%, while Indian Bank will continue to offer 3.00% interest rate on deposits maturing in 30 days to 45 days. Deposits maturing between 46 and 90 days will continue to earn 3.25% interest, and fixed deposits maturing between 91 and 120 days will continue to earn 3.50% interest. Indian Bank will continue to offer an interest rate of 3.85% on deposits maturing in 121 days to 180 days, and 4.50% on deposits maturing in 181 days for less than 9 months.
The bank will continue to offer an interest rate of 4.75% on fixed deposits maturing in 9 months to less than 1 year, but increased the rate of interest on deposits maturing in 1 year from 5.50% to 6.10% – 60 bps Is. Indian Bank has increased the interest rate on deposits maturing in more than 1 year from 5.50% to 6.30% and on deposits maturing in 2 years the bank has increased the interest rate by 90 bps. less than 3 years.
Deposits maturing from 3 years to less than 5 years will now attract an interest rate of 6.40% as against 5.75% earlier, representing an increase of 65 bps. The interest rate for deposits maturing in 5 years increased from 5.65% to 6.40%, an increase of 75 basis points, while for deposits maturing in 5 years or more, the interest rate increased from 5.65% to 6.30 %, an increase of 65 basis points.
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to deposit up to 10 crore, an additional interest rate of 0.50% per annum will be paid on domestic fixed deposits for senior citizens. For deposit tenures of “above 5 years to 10 years”, an additional 0.25% higher interest rate will be provided which is higher than the additional rate currently being offered on fixed deposits for senior citizens aged 60 years and above .
IB Golden Age Special Fixed Deposit Scheme for Very Senior Citizens (age 80 and above) offers an additional 0.25% higher interest rate on fixed deposits for all deposit tenures in addition to the additional rate currently offered for standard senior citizens. “IND UTSAV 610” is a special fixed deposit scheme for 610 days offering 6.10% p.a. for general public, 6.25% p.a. for senior citizens, and 6.50% p.a. for very senior citizens (80 years and above) gives. The scheme is active till 31.10.2022.
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