Indian Bank in the public sector is providing two unique fixed deposit schemes for its clients. More attention is being paid to this compared to a standard fixed deposit. With this offer, customers have the option to invest under Rs 3 crore. Both of the plans will cease operations by the end of November. The regular fixed deposits at the bank offer interest rates between 2.80% and 7.10% to average citizens.
With its “300 Days IND Supreme FD Product,” the bank is providing a 7.05% interest rate to the public for a 300-day investment. Senior citizens receive an interest rate of 7.55% while super senior citizens receive an interest rate of 7.80%. The bank is also providing appealing interest rates on its 400-day “IND Supreme Product”. The average population is receiving an interest rate of 7.30%. Simultaneously, the interest rate for elderly citizens is 7.80% while for super elderly citizens it is 8.05%. The interest rate will be in effect from 3 October 2024 until 30 November 2024.
Interest rate for Fixed Deposit (FD) based on duration-
Between 7 and 14 days – 2.80%
Between 15 and 29 days – 2.80 percent.
Between 30 and 45 days – a 3% percentage.
Between 46 and 90 days – an interest rate of 3.25%.
Between 91 and 120 days – an interest rate of 3.50% applies.
Between 121 and 180 days, the interest rate is 3.85%.
181 days to under 9 months – 4.50%
Between 9 months and under 1 year – 4.75%
300 days represents a 7.05% percentage.
1 Year- a rate of 6.10%
400 days resulted in a 7.30% return.
Between 1 year and 2 years – 7.10%
Between 2 and under 3 years – 6.10%
Between 3 to less than 5 years – 6.25%
A period of 5 years will yield an interest rate of 6.25%.
Over a period of more than 5 years, the percentage is 6.10%.