Indian Bank extends last date to invest in these 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.

The last date has been extended to February 2, 2024.

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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.

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 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.

Indian Bank will now offer 7.05% interest rates to the general public, 7.55% to seniors, and 7.80% to super senior citizens.

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.

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.”

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.