Indian Bank extends special fixed deposit deadline; launches one more special FD with new tenure

Indian Bank, a public sector bank, has extended the special fixed deposit offering higher interest rate dubbed “IND SUPER 400 DAYS”. The bank has also introduced new tenure of 300 days, according to the bank website.


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


IND SUPER 400 DAYS
According to the bank website, “Special Retail Term Deposit Product “IND SUPER 400 DAYS” has been launched w.e.f 06.03.2023 offering higher rate of interest for investment starting from Rs.10000 to less than 2 Crore for 400 days in the form of FD/MMD with callable options. The scheme is extended up to August 30, 2023.
Indian Bank will now offer 7.25% interest rates to the general public, 7.75% to seniors, and 8.00% to super senior citizens.

Public	7.25%
Senior Citizen	7.75%
Super Senior Citizen	8.00%

IND SUPREME 300 DAYS
AS per the website, “Special Retail Term Deposit Product “IND SUPREME 300 DAYS” has been launched w.e.f 01.07.2023 offering attractive rate of interest for investment starting from Rs.5000 to less than 2 Crore for 300 days in the form of FD/MMD with callable options.” The scheme is valid up to August 31, 2023.
Indian Bank will now offer 7.05% interest rates to the general public, 7.55% to seniors, and 7.80% to super senior citizens.

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

Preclosure penalty
a) For early withdrawal, 1% penal interest will be charged over the appropriate rate for the period the deposit was with the Bank.
b) There is no discretion for penalty reduction/waiver for premature withdrawal of term deposits under this instrument.

Indian Bank FD interest rates
Indian Bank offers interest rate between 2.80% to 6.70% 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
1 year	6.1	6.1
Above 1 year to less than 2 years	6.3	6.3
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