Indian Bank’s special fixed deposit scheme offering up to 8.05 percent to end on Nov 30. Check details
The state lender Indian Bank offers two special fixed deposit (FD) schemes -- one for 300 days and the other for 400 days
Indian Bank offers a special fixed deposit (known as IND Super 400 days) that offers upto 8.05 percent for super senior citizens. For the general public, the rate of interest is 7.30 percent and senior citizens are entitled to receive 7.80 percent per annum.
IND Supreme 300 days fixed deposit
There is another fixed deposit scheme called IND Supreme 300 days where regular people are entitled to receive 7.05 percent. Senior Citizens are entitled to receive 7.55 percent. Super senior citizens are entitled to receive 7.80 percent.
These are the interest rates offered on SUPER 400 days which will end on Nov 30, as per the bank's website.
| Category | Interest rate (%) |
Public | 7.3% |
| Senior citizens | 7.8% |
| Super senior citizens | 8.05% |
The other scheme IND Supreme 300 offers interest rate upto 7.80 percent. This scheme will also be valid till Nov 30, 2024.
| Category | Interest Rate (%) |
Public | 7.05% |
| Senior citizens | 7.55% |
| Super senior citizens | 7.80% |
For other duration deposits, bank offers these interest rates.
Tenure | Interest rate (%) |
| 91 days to 120 days | 3.50 |
| 121 days to 180 days | 3.85 |
| 181 days to less than 9 months | 4.50 |
| 9 months to less than 1 year | 4.75 |
| 1 year | 6.10 |
| 2 years | 6.70 |
| 3 years | 6.25 |
| 4 years | 6.25 |
| 5 years | 6.25 |
(Source: indianbank.in; Interest rates w.e.f. June 12)
As one can check the table above, the interest rates vary between 3.5 percent to 6.25 percent per annum for different tenures between 91 days to one year.
Notably, these rates apply to deposits between ₹10,000 to ₹3 crore.
For larger deposits i.e., between ₹3 crore to 5 crore, bulk term deposit rates apply. The bulk deposit rates are as follows:
| 1 year | 6.70 per cent |
| 2 year | 6.10 per cent |
| 3 years | 6.00 per cent |
| 4 years | 6.00 per cent |
| 5 years | 6.00 per cent |
The above interest rates came into effect from June 12, 2024.
Catch all the Instant Personal Loan, Business Loan, Business News, Money news, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Business NewsMoneyPersonal FinanceIndian Bank’s special fixed deposit scheme offering up to 8.05 percent to end on Nov 30. Check details
First Published:28 Nov 2024, 01:05 PM IST
- Top Gainers
- Top Losers
- 52 Week High