Indian Bank Introduces New FDs with Interest Up to 7.9%

Indian Bank has launched IND Secure from May 8 allowing people to invest from Rs. 1,000 up to Rs. 3 crore. This fixed deposit (FD) will be available until Sept 30, 2025.

Regular customers get 7.15 percent interest, senior citizens get 7.65 percent, and super senior citizens get 7.90 percent.

Indian Bank also offers IND Green, a fixed deposit that supports green projects while giving assured returns. People can invest from Rs. 1,000 to less than Rs. 3 crore for 555 days.

With IND Green, regular customers earn 6.80 percent, senior citizens get 7.30 percent, and super senior citizens receive 7.55 percent.

The bank has stopped two earlier schemes: IND Super 400 Days and IND Supreme 300 Days Retail Term Deposits.

Indian Bank has other special FDs too – 444 days at 7.15 percent and 555 days at 6.80 percent. For one year, they give 6.10 percent interest. For 1-2 years, they offer 7.10 percent yearly. For 2-3 years, they give 6.70 percent, and for 3-5 years, they offer 6.25 percent. Five-year FDs also earn 6.25 percent.

Changed savings Interest Rate

Last month, the bank lowered rates for savings accounts. For amounts up to Rs. 10 lakh, interest dropped from 2.90 percent to 2.75 percent.

For amounts between Rs. 10 lakh and Rs. 2 crore, the new rate is 2.80 percent. For amounts above Rs. 2 crore, the rate stays at 2.90 percent. Many banks have cut their rates after RBI reduced its main interest rate by 0.25 percent on April 9.