The Government of India issued the amalgamation of Allahabad Bank into Indian Bank Scheme 2020 on 4 March, 2020, in consultation with the Reserve Bank of India (RBI). The amalgamation scheme came into effect from 1 April 2020. Therefore, customers including fixed depositors of Allahabad Bank will be treated as customers of Indian Bank with effect from 1 April 2020. Hence, the customers who had fixed deposit account in Allahabad Bank were transferred to Indian Bank.
Earn 7% p.a. on your FD & Get a lifetime free Step Up Credit Card
Card limit is 90% of FD Amount
Instant Virtual Card
7%INTEREST ON FD
Indian Bank Fixed Deposit (FD) Interest Rates Highlights 2024
| Highest slab rate | 7.25% (for 400 days) |
| For 1 year | 6.10% |
| For 2 years | 6.70% |
| For 3 years | 6.25% |
| For 4 years | 6.25% |
| For 5 years | 6.25% |
| Tax-Saving FD | 6.25% (for 5 years)
6.10% (for above 5 years to 10 years) |
The interest rates are updated as of 25 November 2024
To know more about Indian Bank Fixed Deposits: Click here
Looking for Higher FD rates? Book an FD @7% p.a. and get a lifetime free credit card
FDs of up to ₹5 lakhs insured by RBI
No hassle of opening a saving account
No documentation
