Indian Bank hikes interest rates on fixed deposits: Details inside

Indian Bank currently offers interest rates on deposits with maturities ranging from 7 days to 5 years and over that range from 2.80 per cent to 5.60 per cent for the general public and 3.30 per cent to 6.10 per cent for senior citizens.

Indian Bank, a public sector lender, increased interest rates on fixed deposits below ₹2 crore.

Indian Bank FD Rate On deposits maturing in 7 days to 29 days, the bank will continue to offer an interest rate of 2.80% and on fixed deposits maturing in 30 days to 45 day

Indian Bank will continue to offer an interest rate of 3%. Indian Bank will now offer an interest rate of 3.25% on fixed deposits maturing in 46 days to 90 days 

Indian Bank bank will continue to offer an interest rate of 3.50% on term deposits maturing in 91 days to 120 days. 

Fixed deposits maturing in 121 days to 180 days will continue to offer an interest rate of 3.75%  

Deposits maturing in 9 months to less than 1 year, and it has increased its interest rate from 5.25 per cent to 5.30 per cent on deposits maturing in 1 year by 5 basis points. 

On deposits maturing in 3 to over 5 years, Indian Bank will continue to give an interest rate of 5.60 per cent. 

To combat inflation, the Reserve Bank of India (RBI) today increased the repo rate by 50 basis points to 5.40 per cent.