Indian Bank Customers Attention – Interest Rates Raised On Fixed Deposits! Check the Details Here!!!

Indian Bank Customers Attention – Interest Rates Raised On Fixed Deposits! Check the Details Here!!! Indian Bank is one of the nationalized banks in India under the ownership of the Ministry of Finance. This bank has lakhs and lakhs of customers across the country. And now the Indian Bank hiked it’s interest rates on fixed deposits which effective from 4th August. According to the announcement, the new interest rates will be applicable on fixed deposits below Rs.2 crore.

This raise has made after the announcement of Reserve Bank of India’s (RBI) tight monetary policy. Not only Indian Bank there are several banks also raised the interest rates on deposits and loans too. It is noted that, RBI’s has recently increased the key repo rate by 50 basis points to 5.4 percent. While seeing the new Interest Rates On Fixed Deposits raised to one tenure 1 year. The other rates on the remaining tenures will be the same, Bank said.

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Moreover, Domestic Term Deposit for Senior Citizens in the amount up to Rs.10 crore the rate of interest will be 0.50% p.a. For Recurring Deposit accounts the interest rate will be given from 6 months to 120 months. This is applicable to all types of term deposits except Senior Citizen opened under Capital Gains Scheme Type B, Bank explain in it website. Now let’s have a detailed look at the revised fixed deposit interest rate of Indian Bank.

7 days to 14 days:

For General Public – 2.80 per cent

For Senior Citizens – 3.30 per cent

15 days to 29 days:

For General Public – 2.80 per cent

For Senior Citizens – 3.30 per cent

30 days to 45 days:

 For General Public -3.00 per cent

For Senior Citizens – 3.50 per cent

46 days to 90 days:

For General Public – 3.25 per cent

For Senior Citizens – 3.75 per cent

91 days to 120 days:

For General Public – 3.50 per cent

For Senior Citizens – 4.00 per cent

121 days to 180 days:

For General Public – 3.75 per cent

For Senior Citizens – 4.25 per cent

181 days to less than 9 months:

For General Public – 4.00 per cent

For Senior Citizens –  4.50 per cent

9 months to less than 1 year:

For General Public  – 4.40 per cent

For Senior Citizens  – 4.90 per cent

1 year:

For General Public – 5.30 per cent

For Senior Citizens – 5.80 per cent

Above 1 year to less than 2 years:

 For General Public – 5.40 per cent

For Senior Citizens – 5.90 per cent

2 years to less than 3 years:

For General Public – 5.50 per cent

 For Senior Citizens – 6.00 per cent

3 years to less than 5 years:

For General Public – 5.60 per cent

For Senior Citizens – 6.10 per cent

5 years:

For General Public – 5.60 per cent

For Senior Citizens – 6.10 per cent

Above 5 years:

For General Public – 5.60 per cent

For Senior Citizens – 6.10 per cent.

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