Indian Bank 2023 Interest Rate For FD, RD, Forex Calculator, and More: Indian Bank offers a range of fixed deposit (FD) options with competitive interest rates in 2023. The interest rates vary depending on the type of FD and the tenure. For the general public, the FD rates range from 2.80% to 7.0% per annum, while for seniors, the rates range from 3.30% to 7.50% per year. Indian Bank also provides tax-saving FDs with interest rates of 6.10% to 6.25% for the general public and 6.60% to 6.75% for older depositors with terms of five to ten years. For non-resident aliens, Indian Bank offers various FD products, including NRO, NRE, RFC, and FCNR (B) fixed deposits.
These deposits accept currencies such as USD, GBP, EUR, JPY, CAD, AUD, CHF, and SGD. To get complete information about Indian Bank 2023 Interest Rate For FD, RD, and Forex Calculator, read the article carefully till the end.
Overview of Indian Bank Interest Rate 2023
| Title | Indian Bank 2023 Interest Rate For FD, RD, Forex Calculator, and More |
| Category | Trending |
| Interest Rate | Mentioned Below |
| Language | English |
| Official Website | https://www.indianbank.in/ |
Indian Bank 2023 Interest Rate
Indian Bank, a reputable public sector bank, is known for its wide range of financial services. Among them, fixed deposits are highly sought after due to their guaranteed profitability, convenience, and safety. To determine the potential interest earnings, investors can easily access the Indian Bank FD calculator online. This calculator helps investors understand the profitability of their fixed deposits and can also calculate the interest earnings and maturity amount. However, specific data is required to initiate the calculation.
Using the Indian Bank FD Interest Rate Calculator, investors can determine the maturity amount and compare FD rates for different deposit tenure options. By providing the deposit amount, preferred deposit tenure option, and deposit tenure, investors can calculate their potential earnings. This allows investors to choose a deposit tenure that offers better returns and higher Indian Bank FD rates.
The 2023 interest rate for Indian Bank FD is 6.50% with a minimum deposit of $100,000, based on the bank’s 3-year Credit Facility. However, the interest rate may vary depending on whether regular deposits are made or only withdrawals are allowed.
Fixed Deposit Schemes offered by Indian Bank
Here are the details for different types of fixed deposit schemes offered by Indian Bank:
Regular Fixed Deposit:
- Minimum deposit amount: Rs 1,000
- Tenure: 6 months – 10 years
- Senior citizens receive an additional 0.50% p.a. for deposits up to Rs. 10 crore
- Automatic renewal facility available
- Nomination/loan/pre-closure facility offered to depositors
- Interest amount credited quarterly/monthly with a discount
Capital Gains:
- Minimum deposit amount: Rs 1,000
- Tenure: 7 days – 3 years
- Nomination facility available
Money Multiplier Deposits:
- Minimum deposit amount: Rs 1,000
- Tenure: 6 months – 10 years
- Automatic renewal facility available
- Nomination/loan/pre-closure facility offered to depositors
- Penalty for foreclosure of the deposit
- Senior citizens receive an additional annual rate of 0.50% for deposits up to Rs. 10 crore
Motor Accident Claim Tribunal Deposit (MACAD) Scheme
Two different offers: Motor Accident Claims Annuity Deposit (MACAD) with EMI option and PED (Principal Equally Distributed along with monthly interest)
- Tenure: 3 years – 18 years (as directed by the court or tribunal)
- Minimum deposit amount: Rs 1,000
- Nomination and pre-closure facilities are available
- Loans against annuity deposits are not allowed
- Rollover features not available
- For more information on FD interest rates, you can also check IDFC Bank’s 2023 Interest Rate For FD.
Fixed Deposits Calculator
Calculator for Fixed Deposits in Indian Banks
Increasing your deposit amount leads to higher interest earnings. However, it’s crucial to keep in mind that larger deposits require larger initial loans from the bank, resulting in additional fees and costs. Therefore, it’s important to carefully consider your desired investment amount and the duration you’re willing to keep it in the bank before reaching a decision.
Indian Bank, a reputable public sector bank, is renowned for its diverse range of financial services. Among them, they offer profitable, hassle-free, and secure fixed deposit options. To determine the precise potential for earning interest, prospective investors can utilize the Indian Bank FD calculator.
These calculators are easily accessible online, enabling everyone to use them. Moreover, investors can swiftly assess their FD investment options through instant calculations.
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Interest Rates on Retail Domestic Term Deposits
Revision of Interest Rates on Retail Domestic Term Deposits with effect from 04.03.2023
| Period | Less than ₹2 crore | |
| Existing (% p.a) | Revised (% p.a) | |
| 7 days to 14 days | 2.80 | 2.80 |
| 15 days to 29 days | 2.80 | 2.80 |
| 30 days to 45 days | 3.00 | 3.00 |
| 46 days to 90 days | 3.25 | 3.25 |
| 91 days to 120 days | 3.50 | 3.50 |
| 121 days to 180 days | 3.85 | 3.85 |
| 181 days to less than 9 months | 4.50 | 4.50 |
| 9 months to less than 1 year | 4.75 | 4.75 |
| 1 year | 6.10 | 6.10 |
| Above 1 year to less than 2 years | 6.30 | 6.30 |
| 2 years to less than 3 years | 6.50 | 6.70 |
| 3 years to less than 5 years | 6.25 | 6.25 |
| 5 year | 6.25 | 6.25 |
| Above 5 years | 6.10 | 6.10 |
Scheme Extended till 30.06.2023
| IND SUPER 400 DAYS — Rate of Interest(% p.a) | ||
| Women | Others | |
| (06.03.2023 – 19.04.2023) | ||
| Public | 7.15 % | 7.10 % |
| Senior Citizen | 7.65 % | 7.60 % |
| Super Senior Citizen ( 80 yrs and above) | 7.90 % | 7.85% |
| Revised Rate of Interest (% p.a) w.e.f 20.04.2023 |
||
| Public | 7.25 % |
|
| Senior Citizen | 7.75 % |
|
| Super Senior Citizen | 8.00 % | |