The bank will continue to offer 2.80 per cent interest rate on fixed deposits maturing between 7 to 29 days. Indian Bank will continue to offer 3% interest rate on deposits maturing between 30 days to 45 days.
Fixed deposits with maturities of 46 to 90 days will continue to earn 3.25 per cent, while for fixed deposits maturing 91 to 120 days, 3.50 per cent and 121 to 180 days, the interest rate will be 3.75 per cent. The bank will now offer an interest rate of 4 per cent on deposits maturing in 181 days to less than nine months and 4.40 per cent on deposits maturing in from nine months to less than one year.
On deposits maturing in one year, the bank will now offer an interest rate of 5.25 per cent, which is an increase of 5.10 per cent and 15 basis points. The interest rate on deposits with maturities of more than one year to less than 2 years increased by 20 basis points from 5.20 per cent to 5.40 per cent. The interest rate has been increased from 5.25 per cent to 5.50 per cent for tenures ranging from two years to less than three years.
Indian Bank Fixed Deposit Rates
Indian Bank Senior Citizens Domestic Fixed Deposit Accounts
According to the Indian Bank website, an additional interest rate of 0.50 per cent per annum will be payable to senior citizens in respect of short term deposits, fixed deposits and money multiplier deposit schemes for all tenures up to Rs 10 crore.
According to the website, “A special offer was offered for Senior Citizens (aged 60 years and above) offering an interest rate of 0.25% over and above the additional rate that is currently offered on Fixed Deposits (0.50+). ) but is being offered for general senior citizens. 0.25 = 0.75) for deposits up to 10 years above 5 years.