Seven major banks of the country – SBI, Bank of Baroda, Canara Bank, Indian Bank, Central Bank of India, IDBI Bank and Federal Bank – have come up with a special scheme for their customers. All these banks are offering a special FD scheme of 444 days, in which the interest rate is ranging from 6.60% to 7.60%.

State Bank Of India

State Bank of India (SBI) runs a special FD scheme named “Amrit Vrishti” for its customers, which has a duration of 444 days. In this, people get interest at the rate of 6.85 percent. Senior citizens and super senior citizens get the benefit of 0.50 percent and 0.60 percent additional interest.

Bank Of Baroda

Bank of Baroda (BoB) runs a 444-day FD scheme called bob Square Drive Deposit Scheme for its customers, in which they get interest at the rate of 7 percent. Senior citizens and super senior citizens get the benefit of 0.50 percent and 0.60 percent additional interest.

Canara Bank

Canara Bank customers get 6.60 percent interest on FDs of 444 days. Senior citizen customers get 7.10 percent interest on this FD scheme.

Indian Bank

Indian Bank customers get 6.90 percent interest on 444 days FD scheme. Senior citizens also get reasonable profits.

Central Bank Of India

Central Bank of India customers get 7 percent interest on 444 days FD plan. Whereas, senior citizens get 7.60 percent interest.

IDBI Bank

IDBI customers get 7.1 percent interest on 444 days FD plan. Whereas, senior citizens get 7.50 percent interest.

Federal Bank

Federal Bank customers get 7 percent interest on FDs of 444 days. Senior citizen customers get 7.50 percent interest on this FD scheme.

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These new rates are effective from June 9, 2025. Investments in the IND SECURE scheme can be made till September 30, 2025. Apart from this, the bank has not made any change in the interest of the 555-day IND SECURE FD scheme.

444 days IND SECURE FD scheme

• Start: 8 May 2025
• Minimum investment: Rs. 1,000
• Maximum investment: Less than Rs 3 crore

Interest rate

• General customers will get – 6.90% annual interest
• Senior citizens will get 7.40% annual interest.
• Super senior citizens will get 7.65% annual interest.

Earlier this much interest was being paid:

• 7.15% for general customers
• 7.65% for senior citizens
• 7.90% interest for super senior citizens

This time, returns have been improved especially for senior and super senior citizens, so that they can get more benefits on their savings.

IND GREEN – 555 days FD – There has been no change in the rates of this FD.

• Launch: May 8, 2025
• Minimum investment: Rs 1,000 crore
• Maximum investment: Less than Rs 3 crore

Interest rate

• 6.80% for general customers
• 7.30% for senior citizens
• 7.55% for super senior citizens

There is no change in this FD scheme and it is available at the same rates as before.

Other Regular FD Rates – FD up to Rs. 3 crore

What changed and why?

Rate cut on IND SECURE:
Earlier it was 7.15% for general customers, which has now come down to 6.90%. Both have been balanced to give some relief to senior and super senior citizens and general customers.

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New FD Schemes

IND SECURE

This is a retail term deposit scheme with a maturity period of 444 days. One can invest in it from Rs 1,000 to less than Rs 3 crore.

Interest Rates

• Ordinary citizens: 7.15% p.a.
• Senior Citizen: 7.65% p.a.
• Super Senior Citizen: 7.90% p.a.

IND GREEN

This scheme comes with a maturity period of 555 days. It also has the facility of investing from Rs 1,000 to less than Rs 3 crore.

Interest Rates

• Ordinary citizens: 6.80% p.a.
• Senior Citizen: 7.30% p.a.
• Super Senior Citizen: 7.55% p.a.

Both the schemes will be available till September 30, 2025, the bank informed on its website.

Discontinued schemes

IND Super 400 Days

IND Supreme 300 Days

These have been discontinued from 8 May 2025.

Revised FD interest rates (applicable for investments less than Rs 3 crore)

Indian Bank also changed the general FD interest rates

1 Year: 6.10%

444 days: 7.15% (IND SECURE)

555 days: 6.80% (IND GREEN)

Less than 1 year to 2 years: 7.10%

2–3 years: 6.70%

3–5 years: 6.25%

Above 5 years: 6.10%

Short term FDs like 7-14 days continue to attract a minimum interest rate of 2.80%.

After the recent repo rate cut by RBI, many banks are changing their FD schemes and interest rates. Indian Bank’s new schemes can be especially beneficial for those investors who want to invest at fixed returns.

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Check bounce case: In an important decision, the Allahabad High Court has said that dishonour of cheques of banks which have merged with another bank will not constitute a crime under Section 138 of the NI Act. If the cheque bounces, the person who issued it will not be prosecuted under Section 138 of the NI Act. Justice Arun Singh Deshwal has given this order while accepting the petition of Archana Singh Gautam of Banda in the case of dishonour of cheques of a bank which has merged with Indian Bank.

Also Read: Capital Gain Tax: There may be exemption in capital gains tax for debt MF, Know what will be the benefit

The petitioner issued a cheque to the opposite party on 21 August 2023 which he presented to the bank on 25 August 2023. The bank declared it invalid and returned the cheque. On which the opposite party filed a complaint of cheque bounce against the petitioner under 138 NI Act. The petitioner challenged the summons order issued by the court in the High Court.

The court said that according to section 138 of the NI Act, if a voided cheque is presented to the bank and is rejected by the bank, then the offence under section 138 is not constituted. Allahabad Bank merged with Indian Bank on 1 April 2020 and its cheques were valid till 30 September 2021. After this, if the bank invalidates the cheque presented, then a case of cheque bounce is not made. The court said that according to the NI Act, the cheque issued should be valid, only then a crime is constituted when it bounces.

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Bank of Baroda

Bank of Baroda is offering interest at the rate of 7.75 percent on three-year FD. Among public sector banks, Bank of Baroda is giving the highest interest to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.26 lakh in three years.

Axis Bank

Axis Bank is offering interest at the rate of 7.60 percent on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.25 lakh in three years.

HDFC Bank

HDFC Bank, ICICI Bank and Punjab National Bank offer interest rates of 7.50 percent on three-year FDs. The amount of Rs 1 lakh invested now will grow to Rs 1.25 lakh in three years.

Canara Bank

Canara Bank gives 7.30 percent interest on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.24 lakh in three years.

State Bank of India (SBI)

State Bank of India (SBI) is giving 7.25 percent interest on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.24 lakh in three years.

Bank of India

Bank of India and Union Bank of India offer interest at the rate of 7 percent on three-year FD. The amount of Rs 1 lakh invested now will grow to Rs 1.23 lakh in three years.

Indian Bank

Indian Bank is giving interest at the rate of 6.75 percent on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.22 lakh in three years.

Reserve Bank of India

Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India (RBI), provides investment guarantee on FDs up to Rs 5 lakh. In simple words, it means that your investment up to Rs 5 lakh in fixed deposit is completely safe.

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Police has intensified the investigation in the case of fraud worth crores of rupees in South Indian Bank located in Sector 22 of Police Station Sector-24 area. Besides, transactions from 90 bank accounts have been banned. Inspector Vivek Srivastava, in-charge of Noida police station Sector 24, said that Indian Bank’s Deputy General Manager (regional) Ranjit R Nayak had lodged a report in the police station.

In which he had alleged that he had received complaints of irregularities from the branch located in Sector-22 for the last few days. Srivastava said that after investigating the complaint, it was found that the Assistant Bank Manager had transferred Rs 28.07 crore from the account of a company named ‘Associate Electronics Research Foundation’ located in Sector-48 to the accounts of his wife and mother and others and had not settled with the company and the bank.

Alleged fraud. He told that in this matter the officials of ‘Associate Electronics Research Foundation’ had lodged a complaint through email on December 3, 4 and 6. Allegations were made of transferring money from the company’s account without permission and knowledge.

Search for the accused continues

Deputy Commissioner of Police Harish Chander said that transactions from 90 bank accounts have been banned in this case. He said that police teams are conducting raids at possible places to arrest the accused.

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Now the privatization of many banks is being discussed once again. On this matter, the government has said that even today the banking sector has been recognized as a strategic sector. For some time, there has been continuous news about the privatization of banks, on which now the statement of NITI Aayog has come. On this matter, the commission has issued a list in which it has been told that which banks can be privatized by the government in the coming days. Along with this, it has also been told that privatization of which banks is not being considered at present.

Government will not privatize these banks

Let us tell you that NITI Aayog has released a list of some such banks which the government is not going to privatize. These banks are State Bank of India, Punjab National Bank, Union Bank, Canara Bank, Bank of Baroda and Indian Bank.

Know which banks will be privatized

Let us tell you that apart from the list of banks given above, the government is planning to privatize all the banks. It has also been said in the notice of NITI Aayog that all the banks which were part of the consolidation have been kept out of this list. The Finance Minister had announced that the government is planning to privatize many government banks and insurance companies. In the financial year 2022-23, the government aims to collect a total of Rs 1.75 lakh crore through disinvestment.

Government will soon privatize IDBI Bank

The government’s stake in IDBI Bank is 45.48 per cent. At the same time, LIC has 49.24 percent stake. It is believed that the government will sell some stake in IDBI Bank and LIC will sell some stake, along with the management control will also be handed over to the buyer. The government may soon sell a major stake in the bank. According to media reports, the Department of Investment and Public Asset Management (DIPAM) may soon invite bids to sell the government’s stake in IDBI Bank.

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Ind super 400 days scheme

According to the bank’s website, the special retail fixed deposit product “Ind Super 400 Days” was launched on March 6, 2023. Under this FD, all the customers are getting the highest returns on investments ranging from Rs 10,000 to less than Rs 2 crore. This scheme has now been extended by the bank till 30 August 2023. Indian Bank is now giving 7.25 percent interest to the general public, 7.75 percent to senior citizens and 8 percent to super senior citizens.

Ind Supreme 300 Days Scheme

The bank has launched the “Ind Supreme 300 Days” scheme on July 1, 2023, under the Special Retail Fixed Deposit product, which is offering the highest return on investment of Rs 5000 to less than Rs 2 crore for 300 days FD. This special FD will continue till 31 August 2023. Indian Bank is now giving 7.05 per cent interest to the general public, 7.55 per cent to senior citizens and 7.80 per cent to super senior citizens.

How much interest is being received on FD

1. The bank is paying 2.8 percent interest on FDs of 7 days to 29 days.
2. 30 days to 45 days is giving 3% return to investors on FD.
3. Investors are getting 3.25 percent interest from the bank on FDs of 46 days to 90 days.
4. The bank is giving a return of 3.5% on FDs of 91 days to 120 days.
5. The bank is giving a return of 3.85 per cent to investors on FDs of 121 days to 180 days.
6. The bank is giving a return of 4.5 per cent to investors on FDs of 181 days to less than 9 months.
7. Is giving 4.75% return on FDs of 9 months to less than 1 year.
8. The bank is giving 6.1 per cent return to investors on 1 year FD.
9. The bank is giving 6.3 per cent return to investors on FDs of more than 1 year to less than 2 years.
10. The bank is giving a return of 6.7 per cent to people on FDs of 2 years to less than 3 years, which was a return of 6.5 per cent before a date.
11. The bank is giving 6.25 per cent return to investors on FDs of 3 years to less than 5 years.
12. Investors are getting 6.25 per cent tax return on FDs of 5 years and 6.1 per cent on FDs above 5 years.

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The name of this scheme launched after the increase in repo rate by RBI is ‘IND SUPER 400 DAYS’. The maturity period in this special FD scheme will be 400 days.

According to the website of Indian Bank, the special retail term deposit product ‘IND Super 400 Days’ has been launched from 6 March. The maturity period in this special FD scheme will be 400 days. An amount ranging from Rs 10,000 to less than Rs 2 crore can be invested in this. The scheme is available to women investors and is open to others as well. Under this scheme, the bank offers 0.05 per cent higher interest rate to women investors. This scheme is valid till April 30, 2023.

Recently Indian Bank has increased FD rates

Recently Indian Bank has increased the interest rates on FDs of less than Rs 2 crore. After this increase, the bank is giving up to 6.70 percent interest to its customers. Increased new interest rates of the bank on 4 March. Applicable from 2023.

Many banks have increased FD rates.

It is noteworthy that on February 8, RBI had increased the repo rate by 0.25 percent. After the increase in the repo rate, many government and private banks of the country have increased their FD rates. Many banks like SBI, ICICI Bank, HDFC Bank, Yes Bank have increased interest on FDs in recent times.

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According to the Indian Bank SO Recruitment 2023 notification, through this recruitment drive, a total of 203 vacancies will be filled for Specialist Officer (SO) and other posts. Candidates can check eligibility criteria, pay scale, educational qualification and other details in the notification.

Indian Bank Vacancy 2023: Check Vacancy Details Here
Financial Analyst (Credit Officer): 60 Posts
Risk Officer: 15 Posts
IT/Computer Officer: 23 Posts
Information Security: 07 Posts
Marketing Officer: 13 Posts
Treasury Officer (Dealer for Treasury) : 20 Posts
Foreign Exchange Officer : 10 Posts
Industry Development Officer : 50 Posts
Human Resource Officer : 05 Posts
Total Vacant Posts : 203

Application fee

SC/ST/PWBD category applicants will have to pay a fee of Rs 175, while for all other applicants the application fee is Rs 850.

Selection Process

The selection process will consist of shortlisting of applications followed by interview followed by interview or written/online test.

Scale

I: Rs 36,000 to Rs 63,840
Scale II: Rs 48,170 to Rs 69,810
Scale III: Rs 63,840 to Rs 78,230
Scale IV: Rs 76,010 to Rs 89,890

The online application process of Indian Bank SO Recruitment 2023 will start from 16 February 2023. Interested and eligible candidates can apply online by visiting the official website of Indian Bank at indianbank.in. The last date for online application is 28 February.

Indian Bank Recruitment 2023 Notification

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But there is another category above senior citizens for banks, which is called super senior citizens. Persons above the age of 60 years are called senior citizens and those above the age of 80 years are known as very senior citizens. These four banks offer high interest rates on Fixed Deposit (FD) to their very senior citizens.

Punjab National Bank

According to the Punjab National Bank (PNB) website, the bank offers an additional interest rate of 80 basis points over and above the applicable interest rate across all categories to very senior citizens above the age of 80 years. PNB’s Super Senior customers get a maximum interest rate of 8.10% for a tenure of 666 days.

This rate has come into effect from 12 December 2022. Explain that the bank has increased the interest rates by 50 basis points for senior citizens in the age group of 60 to 80 years for a period of 5 years on domestic deposits of less than Rs 2 crore. Whereas for citizens above 80 years of age, there has been an increase of 80 basis points.

RBL Bank

RBL bank offers a higher interest rate of 0.75% p.a. for all tenures to citizens aged 80 years and above. The bank currently offers 8.3% interest to very senior citizens. These rates were implemented from 25 November 2022 . On the other hand senior citizens in the age group of 60 to 80 years can avail an additional interest rate of 0.50% per annum over normal.

Indian Bank

Indian Bank offers an interest rate of 0.25% above normal to its very senior citizens. Indian Bank offers an interest rate of 7.15 per cent for a tenure of 555 days, which is .25% higher than normal.

Union Bank of India

Union Bank of India offers its very senior citizens an interest rate of 0.75% per annum above normal for all tenures on FDs. Explain that these interest rates have come into effect from 25 November 2022. The bank offers the highest interest rate of 8.05% to its very senior citizens for a tenure of 800 days and 3 years. At the same time, the bank gives an annual interest rate of 6.80% to senior citizens in the age group of 60 to 80 years.

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