As you know that a Fixed Deposit (FD) is an investment option offered by banks that gives you higher rate of interest than a regular savings account. By investing in an FD, you can achieve your financial goals comfortably due to higher returns offered by it.
The revised interest rates per year for Regular & Senior Citizen with effect from 9 November 2020. IOB short-term fixed deposit rates. There are a number of tenures when it comes to short-term fixed deposits offered by the IOB. The interest rates paid to general public for short-term term deposits ranges from 3.40% p.a. What are the minimum and maximum Indian Bank fixed deposit interest rates? FD rates in Indian Bank start from 2.90% and go up to 5.15%. Senior citizens can further enjoy an additional markup of 0.50% on the Indian fixed deposit rates. Top lenders like State Bank of India (SBI), ICICI, HDFC Bank, Axis Bank and others offer FDs ranging from 7 days to 10 years. (iStock) Bank fixed deposit (FD) interest rates at 7.5%. Yes Bank revises fixed deposit rates; here are latest FD interest rates Yes Bank offers an interest rate of 3.50 percent on deposits maturing in seven to fourteen days, 4 percent on 15 to 45 days.
South Indian Bank FD provides an option to deposit lump sum amount for a specific period, ranging from 7 days to 10 years. You can choose any of the tenures offered by South Indian Bank FD according to your convenience and financial objective. As soon as you select the tenure and deposit the amount in South Indian Bank_ FD, it will start earning an interest based on the tenure of the deposit. Customer is allowed to deposit lump sum money into a fixed deposit only once into his FD account at the time of opening the account with the bank and afterwards he cannot deposit additional money in the same FD account.
You can also get tax benefits under section 80C of the Income Tax Act on an amount between Rs. 100 to 1.5 lakh by investing in South Indian Bank FD for a tenure of 5 years or more.
Following table provides you South Indian Bank FD Rates of various tenors. Also, given below is the facility/ option, through which you can calculate the interest rate and the maturity value of your South Indian Bank FD for different tenures by clicking on the 'calculate' button provided in the table.
South Indian Bank Fixed Deposit Interest Rates (as on 06 Mar 2021)
| Maturity Period | Interest Rate (p.a.) | Calculate Interest Rate |
|---|---|---|
| 30 Days | 3.50% | |
| 45 Days | 3.50% | |
| 60 Days | 3.75% | |
| 90 Days | 3.75% | |
| 120 Days | 5.10% | |
| 6 Months | 5.10% | |
| 9 Months | 5.10% | |
| 12 Months | 5.50% | |
| 2 Years | 5.50% | |
| 3 Years | 5.60% | |
| 4 Years | 5.60% | |
| 5 Years | 5.60% | |
| 10 Years | 5.60% |
Features & Benefits: South Indian Bank Fixed Deposit
- Competitive interest rates are offered with flexible FD tenures to suit your investment plan.
- FD account can be opened online or by visiting your nearest South Indian Bank branch.
- No cap on the Maximum Amount of FD
- FD Tenures: 7 days to 10 years
- Different interest payout options such as monthly, quarterly, etc.
- Loan/ Overdraft against FD facility is available upto 85% of the FD amount.
- Easy and fast liquidity options are available.
- Nomination facility is available.
- Tax benefit of amount up to Rs 1,50,000, through tax saving term deposit scheme
- Part withdrawal facility and auto-renewal facilities are also available
- Senior citizens can enjoy higher interest rate as compared to regular citizens
- NRE, NRO and FCNR deposit facility is offered by the bank
Who is Eligible for South Indian Bank Fixed Deposit
Any of the following persons is eligible to invest in fixed deposits (FD):
- Individual
- Minor
- HUF
- Proprietary Firm
- Partnership Firm
- Limited Liability Partnership (LLP)
- Company
- Association of Persons (AOP)
- Body of Individuals (BOI)
- Local Authority
- Trust
- Non-Resident Indian (NRI)
- Registered Society
Important Things to Know Before Investing in Fixed Deposits
- Always compare tenure-wise FD interest rates of different banks before finalizing the bank for opening an FD account, in order to get maximum interest rate on selected tenure.
- The tenure for most bank fixed deposits varies from 7 days to 10 years. You should choose the FD Tenure according to your convenience and objective behind investment.
- Opt for interest payout options such as monthly or quarterly, if required. Otherwise, choose cumulative option so that you can receive lump sum amount when FD gets matured.
- You can also avail loan or overdraft against FD, if you have immediate requirement of funds.
- If your annual income is non-taxable, you can submit Form 15G or Form 15H in order to avoid TDS.
- Don't forget to make nomination in your FD account.
- If you are a senior citizen then open your FD in a bank which offers extra interest of 0.25% to 0.75% to senior citizens.
- When you open fixed deposit online or offline, do not forget to give instructions on what to do on maturity of your FD. If you do not give any instruction, your fixed deposit will be renewed automatically on maturity.
Calculation of Interest on FD of South Indian Bank
Interest on FD for different tenures is calculated in following manner:
- Simple interest is paid at maturity for fixed deposit tenure of less than 6 months.
- Interest is calculated on a quarterly basis for fixed deposit tenure of 6 months & above.
- Cumulative Interest/ re-investment interest is calculated every quarter, and is added to the Principal such that Interest is paid on the Interest earned in the previous quarter as well.
- In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted rate over the Standard FD Rate
South Indian Bank FD Interest Calculator
South Indian Bank FD Interest Calculator is an online financial tool that allows you to calculate the maturity value of your fixed deposit at the interest rate offered by bank. The amount of FD, interest rate, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.
Automatic Renewal of Bank FD
Bank FD matures on specific date. On maturity, if you have not given any specific instructions such as payout or renewal of FD, most of the banks automatically renew the FD for the same period for which it was initially made at the interest rate prevailing on the date of maturity of FD. This is called Automatic Renewal of Bank FD.
You should choose the option on the account opening form, if you do not want the bank to auto renew your FD. You have 2 options on the account opening form while depositing money in FD, first one is auto renew and second one is deposit of amount to your account after maturity. In case you have not mentioned any option on the account opening form then you will need to visit the bank branch on maturity day of your bank FD and opt for credit of the final proceeds of your bank FD into your savings account if you do not want an auto renewal of your FD.
Bank FD News Mar 2021
13-01-2020: SBI revised FD interest rate
SBI has announced a cut in retail fixed deposits of FD rates. The latest FD rates on SBI deposits is effective from 10th January 2020. The bank has cut the FD rates by 15 bps on long-term deposits maturing in 1 year to 10 years. Now FD interest rate for 7 to 45 days is 4.50%, for 46 to 179 days is 5.50%, for 180 days to 1 year is 5.80% and for 1 year to 10 years is 6.10%.
09-01-2020: Axis Bank reduced FD interest rate
Axis Bank reduced interest rates by up to 20 bps from January 9. FDs for less than Rs 2 crore and with the tenor of less than 1 year will earn 6.40%, for the tenor of 5 years to up to 10 years, FD rates is 6.50%.
07-01-2020: HDFC Bank deposits up by 25% (YoY) in 2019
The largest private sector lender HDFC Bank's deposits up by 25% (YoY) in 2019. Its deposits are at Rs 10.67 trillion as of December 31, 2019 growing by 25% as compared to Rs 8.52 trillion as of December 31, 2018..
24-12-2019: HDFC Bank revised FD interest rate
The revised rate for FDs maturing in 9 months 1 day to less than 1 year will be 6.05%. Term deposits maturing in 1 year to 2 years will fetch an interest rate of 6.3%, 2-3 years 6.40%, and 3 years to 10 years 6.3%.
01-12-2019: PNB cuts off FD rates
With effect from December 1, 2019, FDs for less than Rs 2 crore and the tenor of 271 days to below 1 year will be 6% for general customers and 6.5% for senior citizens. For the tenor of 5 years to up to 10 years, PNB has FD rates of 6.3% for general customers and 6.8% for senior citizens.
12-11-2019: ICICI Bank reduces FD interest rate
The interest rates on ICICI Bank FD for less than Rs 2 crore and the tenor of 185 days to 289 days will be 5.75%, for 5 years to up to 10 years will be 6.40% and 6.9% for senior citizens. Its interest rates will be effective from December 7, 2019.
Public Sector Banks FD Interest Rates
| Allahabad Bank | Andhra Bank | Bank Of Baroda |
| Bank Of India | Bank Of Maharashtra | Canara Bank |
| Central Bank Of India | Corporation Bank | Idbi Bank |
| Indian Bank | Indian Overseas Bank | Oriental Bank Of Commerce |
| Punjab National Bank | Syndicate Bank | Uco Bank |
| Union Bank Of India | United Bank Of India | Vijaya Bank |
| State Bank Of India | State Bank Of Mysore | State Bank Of Patiala |
| State Bank Of Travancore | State Bank Of Bikaner And Jaipur | Punjab And Sind Bank |
Private Sector Banks FD Interest Rates
| Axis Bank | Bandhan Bank Limited | Catholic Syrian Bank Limited |
| City Union Bank Limited | Dcb Bank Limited | Dhanalakshmi Bank |
| Federal Bank | Hdfc Bank | Icici Bank Limited |
| Idfc Bank Limited | Jammu And Kashmir Bank Limited | Indusind Bank |
| Karnataka Bank Limited | Karur Vysya Bank | Kotak Mahindra Bank Limited |
| Laxmi Vilas Bank | The Nainital Bank Limited | Rbl Bank Limited |
| South Indian Bank | Tamilnad Mercantile Bank Limited | Yes Bank |
| Equitas Small Finance Bank Limited | Ujjivan Small Finance Bank Limited | Utkarsh Small Finance Bank |
| Suryoday Small Finance Bank | Au Small Finance Bank Limited | Capital Small Finance Bank Limited |
| Esaf Small Finance Bank Limited | North East Small Finance Bank Limited | Fincare Small Finance Bank Ltd |
New and Attractive Interest Rates
w.e.f. February 18, 2021
| Tenure | < Rs. 2 crores | |
| Interest Rate | Interest Rate for Senior Citizens* | |
| 181 - 270 Days | 3.65 | 3.65 |
| 271 - 1 Yr | 3.85 | 3.85 |
| > 1 Yr - 1.5 Yrs | 4.00 | 4.00 |
| > 1.5 Yrs - 2 Yrs | 4.25 | 4.25 |
| 5 Yrs | 6.00 | 6.00 |
Please note :
- Interest Rate per annum (%).
- Special interest rates quoted above are applicable for deposits of value less than Rs. 2 crores only.
- These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter.
- In case of monthly interest payout, interest shall be calculated for the quarter and paid monthly at a discounted rate in line with RBI directives.
- In case of deposits where interest is paid out at maturity (cumulative interest bearing deposits), interest is calculated and compounded every quarter, basis account opening date. This interest amount so calculated is added to the principal amount in your term deposit account at the end of every calendar quarter.
- The Bank considers both a leap year (366 days) and a non-leap year (365 days) as 1 completed year for calculating the tenure of a fixed deposit. In case a customer books a fixed deposit for 1 year in a leap or a non-leap year, the interest applicable on this deposit will be for the tenure 1 year. Similarly if a customer books a fixed deposit for 2 years, which is spread over a leap year and a non-leap year, the interest applicable on this deposit will be for the tenure > 1.5 Yrs - 2 Yrs. This condition will be applicable for all tenures >=1 year spanning a leap year and a non-leap year
NRE Fixed Deposit Rates
w.e.f. February 18, 2021
Fixed Deposit Rates In India
| Tenure | Interest Rate per annum (%) |
| 1 Yr | 3.85 |
| > 1 Yr - 1.5 Yrs | 4.00 |
| > 1.5 Yrs - 2 Yrs | 4.25 |
| > 2 Yrs - 3 Yrs | 4.50 |
| > 3 Yrs - 4 Yrs | 5.00 |
| > 4 Yrs - < 5 Yrs | 5.25 |
| 5 Yrs | 6.00 |
- Initial minimum fixed deposit size is Rs. 20,000.
- Premature withdrawal:
For Single Deposit of less than Rs. 2 crores
• Less than 1 year : no interest
• 1 year & above : In case of premature withdrawal of fixed deposits, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the rate as on the date of booking for the period for which the deposit has run. This will be applicable for all deposits including renewals - Interest rates are subject to change without prior notice.
- These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter.
- In case of deposits where interest is paid out at maturity (cumulative interest bearing deposits), interest is calculated and compounded every quarter, basis account opening date. This interest amount so calculated is added to the principal amount in your term deposit account at the end of every calendar quarter.
- The Bank considers both a leap year (366 days) and a non-leap year (365 days) as 1 completed year for calculating the tenure of a fixed deposit. In case a customer books a fixed deposit for 1 year in a leap or a non-leap year, the interest applicable on this deposit will be for the tenure 1 year. Similarly if a customer books a fixed deposit for 2 years, which is spread over a leap year and a non-leap year, the interest applicable on this deposit will be for the tenure > 1.5 Yrs - 2 Yrs. This condition will be applicable for all tenures >=1 year spanning a leap year and a non-leap year
Domestic / NRO Fixed Deposit Rates
w.e.f. February 18, 2021
| Tenure | < Rs. 2 crores | |
| Interest Rate | Interest Rate for Senior Citizens* | |
| 7 Days | 1.80 | 1.80 |
| 8 - 14 Days | 1.80 | 1.80 |
| 15 - 29 Days | 2.50 | 2.50 |
| 30 Days | 3.00 | 3.00 |
| 31 - 45 Days | 3.00 | 3.00 |
| 46 - 59 Days | 3.00 | 3.00 |
| 60 - 89 Days | 3.25 | 3.25 |
| 90 - 99 Days | 3.50 | 3.50 |
| 100 Days | 3.25 | 3.25 |
| 101 - 180 Days | 3.25 | 3.25 |
| 181 - 270 Days | 3.65 | 3.65 |
| 271 Days - 1 Yr | 3.85 | 3.85 |
| > 1 Yr - 1.5 Yrs | 4.00 | 4.00 |
| > 1.5 Yrs - 2 Yrs | 4.25 | 4.25 |
| > 2 Yrs - 3 Yrs | 4.50 | 4.50 |
| > 3 Yrs - 4 Yrs | 5.00 | 5.00 |
| > 4 Yrs - < 5 Yrs | 5.25 | 5.25 |
| 5 Yrs | 6.00 | 6.00 |
Please note :
Indian Bank Fixed Deposit Interest Rates Fixed
- Interest Rate per annum (%).
- Special interest rates quoted above are applicable for deposits of value less than Rs. 2 crores only.
- No interest is payable for deposits withdrawn prematurely before 7 days.
- Premature withdrawal
In case of premature withdrawal of fixed deposits on 7th day or thereafter, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the rate as on the date of booking for the period for which the deposit has run. This will be applicable for all deposits including renewals. - Minimum fixed deposit amount is Rs. 20,000.
- Interest Rates are subject to change without prior notice.
- The following interest payout options available for the customer
• Monthly
• Quarterly
• Cumulative - *Applicable only for Retail Deposits - Resident Indian Senior Citizens i.e. Resident Individuals of age
60 years & above and excludes Non-Resident individuals, Individuals in their capacity as a Karta in HUFs and all non individuals. Incase of joint accounts the first holder should be a senior citizen to avail of these rates. - These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter.
- In case of monthly interest payout, interest shall be calculated for the quarter and paid monthly at a discounted rate in line with RBI directives.
- In case of deposits where interest is paid out at maturity (cumulative interest bearing deposits), interest is calculated and compounded every quarter, basis account opening date. This interest amount so calculated is added to the principal amount in your term deposit account at the end of every calendar quarter.
- The Bank considers both a leap year (366 days) and a non-leap year (365 days) as 1 completed year for calculating the tenure of a fixed deposit. In case a customer books a fixed deposit for 1 year in a leap or a non-leap year, the interest applicable on this deposit will be for the tenure 1 year. Similarly if a customer books a fixed deposit for 2 years, which is spread over a leap year and a non-leap year, the interest applicable on this deposit will be for the tenure > 1.5 Yrs - 2 Yrs. This condition will be applicable for all tenures >=1 year spanning a leap year and a non-leap year
Domestic / NRO and NRE Fixed Deposit Rates greater than or equal to Rs. 2 crores
For rates greater than or equal to Rs. 2 crores please click here
Interest rates for deposits greater than or equal to Rs. 2 crores are updated on a daily basis and interest rates updated on a Friday are valid for the following Saturday and Sunday. In case of non-updation of today’s interest rate, please revisit later to check the updated rates.
Please note :
- Interest Rate per annum (%).
- Interest Rates are subject to change without prior notice.
- No interest is payable for Resident / NRO deposits withdrawn prematurely before 7 days.
- No interest is payable for NRE deposits withdrawn prematurely before 1 year.
- Premature withdrawal for Resident / NRO deposits
In case of premature withdrawal of fixed deposits on 7th day or thereafter, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the card rate for deposits greater than or equal to Rs. 2 crores as on the date of booking and for the period for which the deposit has run. This will be applicable for all deposits including renewals. - Premature withdrawal for NRE deposits
In case of premature withdrawal of fixed deposits on 1 year or thereafter, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the card rate for deposits greater than or equal to Rs. 2 crores as on the date of booking and for the period for which the deposit has run. This will be applicable for all deposits including renewals. - The following interest payout options available for the customer
• Monthly
• Quarterly
• Cumulative - These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter.
- In case of monthly interest payout, interest shall be calculated for the quarter and paid monthly at a discounted rate in line with RBI directives.
- The Bank considers both a leap year (366 days) and a non-leap year (365 days) as 1 completed year for calculating the tenure of a fixed deposit. In case a customer books a fixed deposit for 1 year in a leap or a non-leap year, the interest applicable on this deposit will be for the tenure 1 year. Similarly if a customer books a fixed deposit for 2 years, which is spread over a leap year and a non-leap year, the interest applicable on this deposit will be for the tenure > 1.5 Yrs - 2 Yrs. This condition will be applicable for all tenures >=1 year spanning a leap year and a non-leap year.
Interest Rates for Recurring Deposit
w.e.f. February 18, 2021
| Maturity Period | Interest Rate | Interest Rate for Senior Citizens* |
| 12 months | 3.85 | 3.85 |
| 15 months to 18 months | 4.00 | 4.00 |
| 21 months to 24 months | 4.25 | 4.25 |
| 27 months to 36 months | 4.50 | 4.50 |
| 39 months to 48 months | 5.00 | 5.00 |
| 51 months to 57 months | 5.25 | 5.25 |
| 60 months | 6.00 | 6.00 |
Please note :
- Minimum ticket size of Rs. 5,000 to a maximum of Rs. 200,000.
- Minimum tenure of 12 months (in multiplies of 3 months thereafter).
- Maximum tenure of 60 months.
- The interest on Recurring Deposits will be calculated by the bank in accordance with the directions advised by Indian Banks' Association.
- Interest on Recurring Deposits will be paid out on maturity.
- Premature withdrawal:
In case of premature withdrawal of recurring deposits, the interest rate will be 1.00% below the applicable interest rate for the deposit. The applicable interest rate will be the rate as on the date of booking for the period for which the deposit has run. This will be applicable for all deposits including renewals. - If the Recurring Deposits is broken within 14 days from the date of booking, no interest will be paid.
- Interest Rates are subject to change without prior notice.
- Partial withdrawal is not allowed for recurring deposits.
- In case an installment is failed, SI failure charges as per schedule of charges will be applicable.
- *Applicable only for Retail Deposits - Resident Indian Senior Citizens i.e. Resident Individuals of age
60 years & above and excludes Non-Resident Individuals, Individuals in their capacity as a Karta in HUFs and all non individuals. Incase of joint accounts the first holder should be a senior citizen to avail of these rates. - These interest rates will be applicable for new fixed deposits and renewal of existing fixed deposits booked from the effective date given above. These rates will not be applicable for existing deposits booked at earlier rates. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of the fixed deposit and interest will be paid at the contracted rate irrespective of change in the fixed deposit rates thereafter.
- In case of deposits where interest is paid out at maturity (cumulative interest bearing deposits), interest is calculated and compounded every quarter, basis account opening date. This interest amount so calculated is added to the principal amount in your term deposit account at the end of every calendar quarter.
- The Bank considers both a leap year (366 days) and a non-leap year (365 days) as 1 completed year for calculating the tenure of a fixed deposit. In case a customer books a fixed deposit for 1 year in a leap or a non-leap year, the interest applicable on this deposit will be for the tenure 1 year. Similarly if a customer books a fixed deposit for 2 years, which is spread over a leap year and a non-leap year, the interest applicable on this deposit will be for the tenure > 1.5 Yrs - 2 Yrs. This condition will be applicable for all tenures >=1 year spanning a leap year and a non-leap year.
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Indian Bank Fixed Deposit Interest Rates 2016
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