Indian Bank Launches 555 Days FD Scheme With Tremendous Interest, Know Full Details
Fixed Deposit Scheme : After increasing the Repo Rate of the Reserve Bank (RBI), private and public sector banks of the country are also launching new schemes along with increasing the interest rate on Fixed Deposits. Public sector bank Indian Bank has increased the interest rates of fixed deposits of less than two crore rupees. According to the official website of the bank, the new rates have become effective from 19 December 2022. Along with this, the bank has also launched a new fixed deposit scheme of 555 days. The bank has named this scheme ‘IND Shakti 555 Days’.
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New Fixed Deposit Scheme of 555 days
Common people will get interest at the rate of seven percent on investment in the 555-day fix deposit scheme of Indian Bank. At the same time, senior citizens will get interest at the rate of 7.15 percent. Investment in this scheme can start from Rs.5000.
Interest Rate on Fixed Deposit Scheme
The bank is offering interest at the rate of 2.80 per cent on fixed deposit schemes maturing in 7 to 29 days. Indian Bank will get 3.00 percent interest on FDs maturing in the next 30 to 45 days. Indian Bank is paying interest at the rate of 3.25 per cent on deposits maturing in 46 days to 90 days.
The bank is offering interest at the rate of 3.50 per cent. On FDs maturing in 91 days to 120 days. FDs maturing between 121 and 180 days will fetch 3.85 per cent interest. While those maturing in 181 and less than nine months will fetch 4.50 per cent interest.
Interest on FD of more than 5 years
The bank is offering interest at the rate of 4.75 per cent on FDs of 9 months to less than one year. Indian Bank is paying interest at the rate of 6.10% on FDs maturing in one year. The interest rate on deposits of less than two years and less than three years is 6.30 percent. The interest rate on deposits maturing in three to five years will be 6.25 per cent and on fixed deposits of more than five years, the rate of interest will be 6.10 per cent.
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Interest for Senior Citizen
Indian Bank will give an additional interest of 0.50% over the standard rate on FDs up to Rs 10 crore to its senior citizen customers. On FDs of five years to 10 years. Additional 0.25 percent more than the standard rate, i.e. 0.75 percent interest will be given to its super senior citizens.
