How to Invest in Indian Bank FD?
There are several ways to create an Indian Bank FD account, including offline, Internet Banking, and using a mobile app.
1. Internet Banking
To start an Indian Bank FD account using internet banking, follow the procedures outlined below :
1. Login to your Indian Bank NetBanking account.
2. Select the ‘e-TDA Opening’ option from the ‘Online Term Deposit’ menu.
3. Read and thoroughly review all of the ‘Terms & Conditions’ before proceeding to fill out all of the required information.
4. Using a one-time password (OTP), authenticate the transaction.
5. The FD account will be opened after successful login. Its acknowledgement slip will also be accessible for download.
2. Mobile App – Indian Bank App
To create an FD account using the Indian Bank Mobile App, follow the procedures outlined below :
1. Sign in to the Indian Bank App after downloading it.
2. To proceed, select the Term Deposits option.
3. Fill out all of the information, including personal information, nominee information, and maturity instructions.
4. Using a one-time password (OTP), authenticate the transaction.
5. The FD account will be opened after successful login. Its acknowledgement slip will also be accessible for download.
3. Offline Indian Bank FD Opening
To open an Indian Bank FD account offline, go to your local Indian Bank branch. Fill up the Indian Bank FD application form and submit it together with all required papers and the deposit amount. When the application is properly processed, the Indian bank will provide an FD receipt.
Indian Bank FD Interest Rates 2024
Indian Bank is a nationalized banking and financial services company with its main office located in Chennai, Tamil Nadu. It is owned by the Government of India (Ministry of Finance). Serving more than 100 million customers, it is regarded as one of India’s best-performing public sector banks. Customers of Indian Bank have access to a wide range of FD options that allow them to secure their funds and earn interest. The interest on savings accounts is often lower than the rates offered by Indian banks on fixed deposits. When opening an account, a customer must deposit at least the required minimum amount. Once the account is opened, the consumer cannot make any changes or make more deposits.
For fixed deposits below ₹2 crore, the interest rate varies from 2.80% to 6.70% annually. The maturity period can range from seven days to over five years. The bank gives senior citizens who deposit up to ₹2 crore an extra interest rate of 0.50% p.a. The deposit rates under the “IND Super 400 days” special program vary from 7.25% to 8.00%.
Table of Content
- Indian Bank FD Interest Rates: Less than ₹2 crore
- Indian Bank FD Interest Rates: ₹2 crore to ₹5 crore
- Benefits of Indian Bank Fixed Deposit
- Types of Indian Bank FD Schemes
- How to Invest in Indian Bank FD?
- Eligibility to Open an Indian Bank FD Account
- Documents Required to Open Indian Bank FD
- Tax on Indian Bank Fixed Deposit
- Loan Against Indian Bank FD
- Premature Closure of Indian Bank Fixed Deposit
- FAQs