Indian Bank raises fixed deposit (FD) interest rates by up to 90 basis points
Indian Bank, a major public sector lender, has raised interest rates on term deposits to below ₹2 crores. The new rates are effective as of today, October 29, 2022, according to the bank’s official website. Following the amendment, the bank raised interest rates on deposits maturing in 1 year to 5 years or more by up to 90 basis points. Indian Bank now offers interest rates on deposits with maturities of 7 days to more than 5 years, ranging from 2.80% to 6.30%. Following today’s change, deposits maturing in 2 years to less than 3 years will now earn a maximum interest rate of 6.50% at Indian Bank.