South Indian Bank offers FD interest rates of 2.90-7.40% p.a. to the general public and 3.40-7.90% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on South Indian Bank Tax Saving FDs is 6.00% p.a. for the general public and 6.50% p.a. for senior citizen depositors for tenures of 5 years. The bank also offers various fixed deposit products for NRIs, such as NRO, NRE, RFC and FCNR fixed deposits. South Indian Bank accepts FCNR fixed deposits in US Dollars (USD), British Pound Sterling (GBP), Euro, Australian Dollar (AUD), Swiss Franc (CHF), Japanese Yen (JPY), and Canadian Dollar (CAD). The bank accepts RFC fixed deposits in USD, GBP, EUR, AUD, CHF and JPY.
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South Indian Bank FD Interest Rates (p.a.) Highlights 2024 |
|
| Highest slab rate | 7.40% (for 1 year 7 days) |
| For 1 year | 6.70% |
| For 2 years | 6.50% |
| For 3 years | 6.70% |
| For 4 years | 6.70% |
| For 5 years | 6.00% |
| Tax-Saving FD | 6.00% |
The interest rates are updated as of 20 November 2024
FDs of up to ₹5 lakhs insured by RBI
No hassle of opening a saving account
No documentation
| Period | Interest Rates (% p.a.) | |
| General | Senior Citizens | |
| 7 days to 30 days | 2.90 | 3.40 |
| 31 days to 90 days | 3.50 | 4.00 |
| 91 days to 99 days | 4.50 | 5.00 |
| 100 days | 5.50 | 6.00 |
| 101 days to 180 days | 4.50 | 5.00 |
| 181 days to 221 days | 5.00 | 5.50 |
| 222 days | 6.55 | 7.05 |
| 223 days to less than 1 year | 5.00 | 5.50 |
| 1 year | 6.70 | 7.20 |
| Above 1 year to 1 year 6 days | 6.50 | 7.00 |
| 1 year 7 days | 7.40 | 7.90 |
| 1 year 8 days to less than 30 months | 6.50 | 7.00 |
| 30 months | 7.00 | 7.50 |
| Above 30 months to less than 5 years | 6.70 | 7.20 |
| 5 years to less than 66 months | 6.00 | 6.50 |
| 66 months (Green deposit) | 6.50 | 7.00 |
| Above 66 months to 10 years | 6.00 | 6.50 |
Note: Special rates for senior citizens are only applicable to residents
Card limit is 90% of FD Amount
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| Period | Interest Rates (% p.a.) | |
| General | Senior Citizens | |
| Tax Gain (5 years) | 6.00 | 6.50 |
| Period | Interest Rate (% p.a.) |
| 1 year | 6.70 |
| Above 1 year to 1 year 6 days | 6.50 |
| 1 year 7 days | 7.40 |
| 1 year 8 days to less than 30 months | 6.50 |
| 30 months | 7.00 |
| Above 30 months to less than 5 years | 6.70 |
| 5 years to less than 66 months | 6.00 |
| 66 months (Green deposit) | 6.50 |
| Above 66 months to 10 years | 6.00 |
|
Maturity period/Currency |
Interest Rates (% p.a.) | |||||||
| USD | GBP | EUR | AUD | CHF | JPY | CAD | ||
| Up to Rs 5 lakh | Above 5 lakh | |||||||
| 1 year to less than 2 years | 5.70 | 6.00 | 4.00 | 3.00 | 4.20 | 0.05 | 0.20 | 3.50 |
| 2 years to less than 3 years | 4.65 | 4.65 | 3.75 | 2.00 | 3.50 | 0.00 | 0.20 | 3.50 |
| 3 years to less than 4 years | 3.75 | 3.75 | 2.45 | 1.00 | 3.00 | 0.00 | 0.05 | 3.15 |
| 4 years to less than 5 years | 3.00 | 3.00 | 2.45 | 1.00 | 3.20 | NA | 0.05 | 3.20 |
| 5 years | 3.00 | 3.00 | 2.45 | 1.00 | 3.45 | NA | 0.05 | 3.25 |
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Maturity period/Currency |
Interest Rates (% p.a.) | ||||||
| USD | GBP | EUR | AUD | CHF | JPY | ||
| Up to 5 lakh | Above 5 lakh | ||||||
| 1 year to less than 2 years | 5.70 | 6.00 | 4.00 | 3.00 | 4.20 | 0.05 | 0.20 |
| 2 years to less than 3 years | 4.65 | 4.65 | 3.75 | 2.00 | 3.50 | 0.00 | 0.20 |
| 3 years | 3.75 | 3.75 | 2.45 | 1.00 | 3.00 | 0.00 | 0.05 |
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| Variant Name | Deposit Amount | Age Limit | Insurance coverage |
| FD-VANTAGE-Alpha |
Minimum Rs 1 lakh |
18-70 years | Rs 2 lakhs – Accident death and permanent disability |
| Rs 1 lakh – Partial disability | |||
| FD-VANTAGE-Beta |
Minimum Rs 3 lakhs |
5-80 years | Rs 10 lakhs- Accident Insurance coverage |
| Rs 1 lakhs- Hospitalization expense | |||
| FD-VANTAGE-Gamma | Minimum Rs 5 lakhs | 18-50 years | Rs 2 lakhs- Life Insurance coverage |
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South Indian Bank provides its customers with the facility of loan against fixed deposits up to 90% of the value of their fixed deposit at attractive interest rates.
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Investors can check the maturity amount of their South Indian Bank FD rates using FD Calculator offered by Paisabazaar. The investors need to enter the amount they wish to deposit, preferred tenure of investment, and South Indian Bank FD Rate to know how much their investment will be worth at maturity. Alternatively, customers can check the interest and maturity amount for reinvestment schemes using Paisabazaar’s compound interest calculator.
Q. What is the highest rate at which one can earn returns on South Indian Bank FD?
A. As per the prevailing South Indian Bank FD interest rates, the bank is offering 7.40% p.a. rate of interest (7.90% p.a. for senior citizens) for the tenure of 1 year 7 days.
Q. What is the minimum & maximum period for South Indian Bank Fixed Deposit account?
A. The minimum & maximum period for South Indian Bank Fixed Deposit account is 7 days & 10 years respectively.
Q. Can an account holder close his/her South Indian Bank FD account anytime?
A. Yes, an account holder can prematurely withdraw his/her South Indian Bank FD anytime except for tax saver FD (comes with a lock-in period of 5 years).
Q. Is there a penalty for premature withdrawal of South Indian Bank FD?
A. Yes, a premature withdrawal penalty is charged as mentioned above.
Q. Does the bank provide any additional interest rate to the senior citizens?
A. Yes, the bank provides an additional 0.50% interest rate to senior citizens.
Q. What is the eligibility to avail South Indian Bank fixed deposit for senior citizens?
A. An individual must be above the age of 60 years to avail South Indian Bank fixed deposit.
Q. What is the mandatory document for proof of address to avail an FD?
A. The mandatory document for proof of address to avail of an FD is PAN Card.
