Indian Bank, a public sector bank, has extended the deadline to invest in its special fixed deposit offering higher interest rates. These special FDs are called “Ind Super 400” and “Ind Supreme 300 days”, according to the Indian Bank website.
What is the last date to invest in Indian Bank special FDs
The last date has been extended to September 30, 2024. Earlier the date was June 30, 2024.
Earn up to 8.25% FD rate: This private bank revises interest rates on fixed deposits
Ind Super 400 Days
Special Retail Term Deposit Product, “IND SUPER 400 DAYS,” offers a higher rate of interest for investments starting from Rs.10000 to less than 3 Crore for 400 days in the form of FD/MMD 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 400 DAYS -Rate of Interest (% p.a) | ||
| Rate of Interest (% p.a) | ||
| Public | 7.25% | |
| Senior Citizen | 7.75% | |
| Super Senior Citizen | 8.00% | |
Ind Super 300 Days
A Special Retail Term Deposit Product, “IND SUPREME 300 DAYS,” offers an attractive rate of interest for investments starting from Rs.5000 to less than 3 Crore for 300 days in the form of FD/MMD with callable options. 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% | |
Indian Bank FD interest rates
Indian Bank offers fixed deposit interest rate between 2.8% to 7.25% (including special FDs) on tenure ranging from 7 days to 10 years. The revised rate are effective from June 12, 2024.
| riod / Tenor of Deposit | Less than Rs.3 crore |
| Revised Rate | |
| (% per annum ) | |
| 7 days to 14 days | 2.8 |
| 15 days to 29 days | 2.8 |
| 30 days to 45 days | 3 |
| 46 days to 90 days | 3.25 |
| 91 days to 120 days | 3.5 |
| 121 days to 180 days | 3.85 |
| 181 days to less than 9 months | 4.5 |
| 9 months to less than 1 year | 4.75 |
| 300 days (Ind Supreme Product) | 7.05** |
| **Valid up to 30.09.2024 | |
| 1 year | 6.1 |
| 400 days (Ind Super Product) | 7.25** |
| **Valid up to 30.09.2024 | |
| Above 1 year to less than 2 years | 7.1 |
| 2 years to less than 3 years | 6.7 |
| 3 years to less than 5 years | 6.25 |
| 5 year | 6.25 |
| Above 5 years | 6.1 |
Penalty
| Period Run | Deposits upto Rs. 5 lakhs | Deposits above Rs. 5 lakhs |
| 7 days | No interest will be paid on foreclosure of deposit | No interest will be paid on foreclosure of deposit |
| 7 days and above | No penalty to be levied for pre closure of deposits provided the deposit has been retained for atleast 181 days i.e. eligible interest rate will be the applicable card rate for the actual period run prevailing on the date of deposit. For deposits closed before 181 days, eligible rate will be the applicable card rate for the actual period run prevailing on the date of deposit less 1.00% p.a. as foreclosure charges | Eligible rate will be the applicable card rate for the actual period run prevailing on the date of deposit less 1.00% p.a. as foreclosure charges |
| No foreclosure charges to be levied for domestic term deposits placed by Corporate/Government Departments (State, Central and Quasi Government), Institutions and non profitable organizations (which exist for Educational / Religious or Charitable reasons and from which its share holders or trustees do not benefit financially) wherein the deposits are placed based on the quotation submitted by the Bank. | ||
| No foreclosure charges to be levied for deposits in the name of staff/ex staff/ex staff cum senior citizen. | ||
