Fixed Deposit Details
Bank Name
Indian Bank
Eligibility
Senior Citizens of age 80 years and above.
Interest Rate
3.55 to 8.00%
Tenure
7 days to 10 years.
Fixed Deposit Type
Super Senior Citizens
IB Golden Ager – Term Deposit Product for Super Senior Citizens
Tax Benefits
None
Credit Ratings
CRISIL AAA
Interest Payment Frequency
Not specified by the bank. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
Not specified by the bank.
Features
- This scheme is specially designed for super senior citizens.
- The maximum deposit amount must be below 10 crore.
- Deposits shall be eligible for a Demand Loan /overdraft facility of up to 90% of the deposit amount.
- Additional concession for super senior citizens.
Minimum Investment Amount
1000
Features & Benefits
Pros
- Additional concession of 1.00% on deposits tenure ranging above 5 years.
- Maximum deposit amount of Rs 10 crore.
Cons
- Penalty for premature withdrawal.
Pros & Cons
How to Open?
You can open the FD online by visting the website https://www.indianbank.in/#!
Product Review
About this content
Public source: Original MyRupaya page
Captured 2026-11-06T10:59:17Z. Public page text has been preserved and restyled. Historical financial/product information may be outdated. Embedded widgets and forms are not copied or connected to live services.
