Indian Bank increased term deposit interest rates

Interest rate increased by 1.75 per cent annually for maturity period of 1 year to less than 2 years and by 0.50 per cent for all maturity periods from 2 years and above.

A new slab has been introduced for the period 121 days to 180 days with rate of interest fixed at 8 per cent. Senior citizens will get 0.50 per cent every year more for the period from 15 days to 10 years over the card rate of less than Rs 15 lakh.

 

The above revised rate will be applicable only for fresh deposits and for the renewal of maturing deposits.

For Indian Bank Tax Saver Scheme the rate of interest will be 9 per cent every year for general public.