Get a free quote
Scan the QR Code to download the ET Money app
- To scan the QR code you can use a QR code scanner app or your smartphone camera using Google lens.
- After downloading the app, explore our products to help you live your choices.
Mutual Funds
Genius
Insurance
Calculators
Great! You have sucessfully subscribed for newsletters for investments
Subscribed email:
Indian Bank Fixed Deposit (FD) Interest Rates
Features of Indian Bank FD
Interest rates (p.a)2.80% - 7.20%
Minimum deposit ₹1,000
Maximum deposit ₹1 Cr
Lock-in 
No Lock-in
No Lock-in
Tenure 1 yr - 10 yrs
Senior citizen 
Extra 0.5% p.a.
Extra 0.5% p.a.
FD Calculator
Deposit Amount
Min. ₹1,000, Max. ₹1 Cr
Interest Payout
Deposit Tenure
Min. 1 yr, Max. 10 yrs
Monthly Income
Min. ₹1,000, Max. ₹1,000
Interest Payout
Deposit Tenure
Min. 1 yr, Max. 10 yrs
You need to invest in total
₹26,662 
in Indian Bank@ 5.39%
Indian Bank FD Interest Rate 2023
| Tenure | General Public FD Rate | Senior Citizens FD Rate |
|---|---|---|
| 7 days to 14 days | 2.80% | 3.30% |
| 15 days to 29 days | 2.80% | 3.30% |
| 30 days to 45 days | 3.00% | 3.50% |
| 46 days to 90 days | 3.25% | 3.75% |
| 91 days to 120 days | 3.50% | 4.00% |
| 121 days to 180 days | 3.85% | 4.35% |
| 181 days to less than 9 months | 4.50% | 5.00% |
| 9 months to less than 1 year | 4.75% | 5.25% |
| 1 year | 6.10% | 6.60% |
| Above 1 year to less than 2 years | 6.30% | 6.80% |
| 2 years to less than 3 years | 6.70% | 7.20% |
| 3 years to less than 5 years | 6.25% | 6.75% |
| 5 years | 6.25% | 6.75% |
| Above 5 years | 6.10% | 6.60% |
Fixed Deposit Interest Rates Comparison 2023
| Name | Interest rate (p.a.) | Tenure | Min. deposit | |
|---|---|---|---|---|
 Bajaj Finance Ltd. |
7.11% - 8.60% |
1 - 5yrs
|
₹50,000 |
Deposit Now |
 SBI Bank |
3.00% - 7.60% |
1 - 10yrs
|
₹1,000 |
View details |
 ICICI Bank |
3.00% - 7.60% |
1 - 10yrs
|
₹10,000 |
View details |
 Axis Bank |
3.50% - 7.95% |
1 - 10yrs
|
₹5,000 |
View details |
 HDFC Bank |
3.00% - 7.75% |
1 - 10yrs
|
₹5,000 |
View details |
 Bank of Baroda |
3.00% - 7.75% |
1 - 10yrs
|
₹1,000 |
View details |
 IDFC Bank |
3.50% - 8.00% |
1 - 10yrs
|
₹10,000 |
View details |
 Kotak Mahindra Bank |
2.75% - 7.70% |
1 - 10yrs
|
₹5,000 |
View details |
 Canara Bank |
4.00% - 7.75% |
1 - 10yrs
|
₹1,000 |
View details |
 Yes Bank |
3.25% - 8.25% |
1 - 10yrs
|
₹10,000 |
View details |
 IndusInd Bank |
3.50% - 8.25% |
1yr - 5yrs 1m
|
₹10,000 |
View details |
 Punjab National Bank |
3.50% - 7.75% |
1 - 10yrs
|
₹1,000 |
View details |
 IDBI Bank |
3.00% - 7.30% |
1 - 20yrs
|
₹10,000 |
View details |
 Union Bank |
3.00% - 7.75% |
1 - 10yrs
|
₹1,000 |
View details |
 Citibank |
3.50% - 7.95% |
1 - 5yrs
|
₹1,000 |
View details |
 RBL Bank |
3.50% - 8.30% |
1 - 10yrs
|
₹1,000 |
View details |
| Indian Bank |
2.80% - 7.20% |
1 - 10yrs
|
₹1,000 |
View details |
About Indian Bank
Indian Bank came to be established on 5th March 1907, with an authorized capital of Rs.20 lakhs. The bank commenced its operations on 15th August 1907 and is known for offering financial products such as fixed deposits and loans. Besides its financial products, Indian Bank also offers digital products including Point of Sale solutions, IndOasis, IB Collect Plus, and more. The public sector bank serves more than 100 million customers with 6,089 branches and 5,022 ATMs. It has over 20,924 employees and 1,494 cash deposit machines to effectively offer banking solutions to its growing customer base. Allahabad Bank merged with Indian Bank from 1st April 2020, making it the seventh-largest bank in the country.
Benefits of Indian Bank Fixed Deposit
Frequently asked questions
To open an FD with Indian Bank, you need a minimum amount of Rs.1000 or above.
There is no maximum limit set by Indian Bank on its fixed deposit amount. However, for deposits made above Rs.5 crore, approval of the Treasury Branch is needed for acceptance of such deposits.
Yes. According to the Income Tax Act 1961, interest earned on fixed deposits with banks is taxable. However, for it to become taxable, the aggregate interest on deposits must exceed Rs.10,000 in a financial year. The bank will deduct a TDS at 10% on the interest.
FD rates in Indian Bank start from 2.90% and go up to 5.15%. Senior citizens can further enjoy an additional markup of 0.50% on the Indian fixed deposit rates.
If you wish to open an FD account with Indian Bank, you can visit the nearest branch and fill up a form. Along with the form you are required to submit KYC documentation. It includes your identity proof and address proof documents such as Passport, PAN Card, Aadhaar Card, Driving License, Electricity Bill, Telephone Bill, or any other Government ID. Lastly, to open an FD you can either deposit the amount in cash, cheque, or a demand draft.
You can take the online route and open an FD with Indian Bank by visiting their official website and uploading the necessary documents online.
Yes, you can open an RD account with Indian Bank with a minimum amount of Rs.100 and in multiples thereof. The minimum period for RD is 6 months and the maximum is normally 10 years. Indian Bank RD interest rates are in the range of 5.25% to 5.65% as on 1st May 2020.
Yes, you can choose a close family member including spouse, parents, or children as nominees for your FD account with the bank.
For deposits closed before 181 days, the eligible rate will be the card rate for the actual period run as on the deposit date less 1.00% p.a. as foreclosure charges.
Interest payout
Interest payout
You need to invest in total
₹26,662
in Indian Bank
@ 5.39% p.a.
ET Money does not offer investment options with Indian Bank fixed deposit,