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Indian Bank launches 2 new fixed deposit schemes, ends two other plans

IND SECURE and IND GREEN offer rates of up to more than 7% for general customers New Delhi Indian Bank has introduced two new fixed deposit (FD) schemes, IND SECURE and IND GREEN, effective May 8. It has discontinued the IND SUPER 400 Days and IND SUPREME 300 Days schemes. New fixed deposit schemes IND SECURE (444 days): Interest rates: General public: 7.15 per cent per annum Senior citizens: 7.65 per cent per annum Super senior citizens: 7.90 per cent per annum Investment range: Minimum Rs 1,000 up to less than Rs 3 crore Validity: Open for investment until September 30, 2025 IND GREEN (555 days): Interest rates: General public: 6.80 per cent per annum Senior citizens: 7.30 per cent per annum Super senior citizens: 7.55 per cent per annum Investment range: Minimum Rs 1,000 up to less than Rs 3 crore Validity: Open for investment until September 30, 2025 These schemes are available in the form of FD or money multiplier deposit with callable options. IND GREEN is designed to promote sustainable development while providing guaranteed returns, according to Indian Bank. Discontinued FD schemes As of May 8, 2025, Indian Bank has discontinued the following schemes: IND SUPER 400 Days IND SUPREME 300 Days No new deposits will be accepted under these schemes. Existing deposits will continue to earn interest as per the agreed terms until maturity. Revised standard FD interest rates Indian Bank has updated its standard fixed deposit interest rates for deposits below Rs 3 crore. The revised rates are effective from May 8, 2025. Below is the detailed table of interest rates and tenures provided by the bank Period / Tenor of Deposit Less than Rs.3 crore Revised Rate (% per annum ) 7 days to 14 days 2.8 15 days to 29 days 2.8 30 days to 45 days 3 46 days to 90 days 3.25 91 days to 120 days 3.5 121 days to 180 days 3.85 181 days to less than 9 months 4.5 9 months to less than 1 year other than 300 Days. 4.75 1 year 6.1 444 days 7.15* 555 Days 6.80* Above 1 year to less than 2 years other than 444 days & 555 days 7.1 2 years to less than 3 years 6.7 3 years to less than 5 years 6.25 5 year 6.25 Above 5 years 6.1 Foreclosure charges Premature withdrawal in the new FD schemes, IND SECURE and IND GREEN, is allowed, but may attract a penalty. Typically, interest is paid at 1 per cent lower than the applicable rate for the actual deposit period. No interest is paid if the deposit is withdrawn within seven days.