Indian Bank extends deadline to invest in special FDs with higher interest rates

Indian Bank, a public sector bank, has extended the special fixed deposit offering higher interest rate dubbed “Ind Super 400” and “Ind Supreme 300 days”, according to the bank website. The last date has been extended to December 31, 2023.

Ind Super 400 days
This special FD offers a higher rate of interest for investments ranging from Rs.10,000 to less than Rs.2 crore for 400 days with callable options.


Over 9% FD interest rates for senior citizens: Check these 7 banks

Indian Bank will now offer 7.25% interest rates to the general public, 7.75% to seniors, and 8.00% to super senior citizens.

IND SUPER 400 DAYS -Rate of Interest (% p.a)
Rate of Interest (% p.a)
Public	7.25%
Senior Citizen	7.75%
Super Senior Citizen	8.00%

*Scheme Extended from 03.11.2023 up to 31.12.2023*

Ind Super 300 days
This special retail term deposit product "IND SUPREME 300 DAYS" offers a competitive rate of interest for investments ranging from Rs.5000 to less than Rs.2 Crore in the form of FD/MMD with callable options for a period of 300 days.

Category	Rate of Interest ( %p.a)
Public	7.05%
Senior Citizen	7.55%
Super Senior Citizen	7.80%

Indian Bank FD interest rates
Indian Bank offers interest rate between 2.80% to 6.70% (except special FD) for tenure ranging from 7 days to 10 years.

Period	Less than Rs 2 crore
	Existing (% p.a)	Revised (% p.a)
7 days to 14 days	2.8	2.8
15 days to 29 days	2.8	2.8
30 days to 45 days	3	3
46 days to 90 days	3.25	3.25
91 days to 120 days	3.5	3.5
121 days to 180 days	3.85	3.85
181 days to less than 9 months	4.5	4.5
9 months to less than 1 year	4.75	4.75
Ind Supreme 300 Days	—	7.05
(w.e.f 01.07.23 valid upto 31.10.23)
1 year	6.1	6.1
Above 1 year to less than 2 years	6.3	6.3
Ind Super 400 Days	7.1	7.25
(w.e.f 20.04.23 valid upto 31.10.23)
2 years to less than 3 years	6.5	6.7
3 years to less than 5 years	6.25	6.25
5 year	6.25	6.25
Above 5 years	6.1	6.1

IB – Golden Ager
According to the Indian Bank website, “ A Special Term Deposit Account for Super Senior Citizen” (Age 80 years and above) is offering additional 0.25% higher rate of interest over & above the additional rate that is presently being offered for normal Senior Citizen on Term Deposit for all deposit buckets.”

These two special FDs offering up to 8.05% interest rate will end in November

Premature withdrawal of term deposits
There would be no penalty for pre-closing deposits up to Rs 5 lakh if the deposit has been held for at least 181 days, i.e. the qualifying interest rate will be the relevant card rate for the actual time run prevailing on the day of deposit. For deposits closed prior to 181 days, the eligible rate will be the relevant card rate for the actual period run at the time of deposit, less 1.00% p.a. as foreclosure charges.