Indian Bank FD Rates: Check Latest updated FD Interest Rates, RD Interest Rates, Single Term Deposit Rates for General, NRI & Senior Citizens Online. Updated on October 2019.
Latest Updated Deposit rates News:
Senior Citizens Get .50% More Rate of Interest for 15 days to 10 years over the card rate in respect of Short Term Deposit, Fixed Deposit, and Reinvestment Plan Schemes.
Senior Citizens also get .50% more rate of interest for Recurring Deposit, Senior citizens are eligible for additional interest rate of 0.50% p.a is payable for the period of 6 months to 120 months (multiples of 3 months).
Deposit in bank for 1 year and get interest of 6.60% per annum for general.
Interest Rates on Domestic Term Deposits % p.a (% per annum)
|Period||Less than 2 crore||2 crore to 5 crore|
|New Rates % Per Annum||New Rates % Per Annum|
|7 days to 14 days||4.50||4.40|
|15 days to 29 days||4.50||4.40|
|30 days to 45 days||4.50||4.40|
|46 days to 90 days||5.00||5.00|
|91 days to 120 days||5.75||5.50|
|121 days to 180 days||6.00||5.75|
|181 days to less than 9 months||6.00||5.75|
|9 months to less than 1 year||6.00||5.75|
|above 1 year to less than 2 years||6.60||6.35|
|2 years to less than 3 years||6.50||6.35|
|3 years to less than 5 years||6.75||6.25|
|Above 5 years||6.50||6.50|
For Domestic Term Deposit for Senior Citizens, additional rate of interest payable would be 0.50% p.a. for amount less than Rs 1 crore.
Above mentioned deposit interest rates are also applicable to Indian Bank Tax Saver scheme. For the deposits of Senior Citizens, under this scheme, additional rate of 0.50% p.a is payable for the respective maturity period.
Latest interest rates for Indian bank fixed deposit for a tenure of 9 months to less than 1 year returns a rate of 7.50% for general depositors and 8.25% to senior citizen. For instance; a general depositor deposits an amount of Rs 4,80,000 at the rate of 7.50% than the interest gained within 1 year as soon as the account reaches its maturity the value of the opening balance will be in a profit of Rs 37,025 and the closing value is Rs. 5,17,025. Below table shows the interest rates for an amount less than 1 crore.
Let’s say Rs 50 lakhs for below 1 crore and Rs. 1,70,00,000 for above 1 crore.
|Time Period||ROI%(below 1 crore)||Maturity value||ROI%(above 1 crore)||Maturity value|
|30 days-45 days||5.25%||50,21,575.34||5.25%||1,70,73,356.16|
|46 days-90 days||6.25%||50,39,383.56||6.25%||1,71,33,904.11|
|91 days-120 days||6.75%||50,84,141.90||6.75%||1,72,86,082.46|
|181 days-9 months||7.25%||51,81,362.41||7.00%||1,75,95,187.68|
|9 months-1 year||7.50%||52,86,556.40||7.00%||17908209.86|
|1 year-2 years||7.25%||53,72,475.10||7.00%||1,82,21,603.53|
|3 years and above||7.25%||62,02,734.96||7.00%||2,09,34,468.35|
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