Premature withdrawal facility is available on the term deposits held in Indian Bank. However, no single deposit to be opened in a day for more than Rs 2 Cr within the overall limit of Rs 10 Cr tagged to a single CIF. Minimum Deposit- Rs.1000/-Max Amt: No Maximum Min Period: Minimum 7 days, Maximum 10 years Senior Citizens are eligible for additional rate of 0.50% p.a for an aggregate amount up to Rs.10 crore. Indian bank fixed deposit interest rates. IMPORTANT: The rate of interest on domestic term deposit is also applicable to IB Tax Saver Scheme and Capital. Interest calculated on a daily basis as above would be credited on a quarterly basis in the month of June, September, December and March every year. Premature Withdrawal of Indian Bank Fixed Deposits Indian Bank levies a 1% interest rate from the contracted rate for deposits above 5 lakh. The interest offered by the bank on these deposits is around 6.30% Long-term Deposits: These deposits have their tenure ranging from 5 years to 10 years and offer an interest rate of 6.25%.
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