How to find the best rates for Indian Bank Fixed Deposit
Indian Bank, a public-sector banking institution in India, offers a varied suite of banking products and services to its customers. Fixed deposits form a part of the banks savings solutions offered to its retail clients. These FD schemes feature attractive interest rates for optimum returns.
The above table reflects all fixed deposit rates as announced by Indian Bank. These rates are closely monitored to reflect any changes made by the bank.
Indian Bank Short-Term FD Rates
Interest rates on Indian Banks fixed deposits start at 6.75% for its 30-day FD scheme, and goes a percentage point higher to 7.5% for deposit terms of 60 and 90 days. This is further enhanced by 0.25% and 0.5% to 7.75% and 8% for a 120-day and 6-month deposit period, respectively. The highest rate on offer is at 8.75% for tenures of 9 months and above.
Indian Bank Medium and Long-Term FD Rates
All deposit holdings between 1 year and 3 years earn interest @ 8.75%.
Indian Bank Senior Citizen FD Rates
Senior citizens stand to gain an extra 0.5% on interest rates across all schemes. This puts short-term rates, for this class of customers, in the range of 7.25% to 9.25%. Medium and long-term rates are constant at 9.25% for tenures between 1 year and 3 years.
Interest is compounded on a quarterly basis. Indian Bank provides attractive short-term savings options to those who wish to maximise returns on surplus funds without making undue compromises on liquidity.
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