Up to 7.90% returns: Indian Bank floats IND SECURE, IND GREEN fixed deposit schemes

Indian Bank has announced the introduction of two new fixed deposit (FD) schemes, IND SECURE and IND GREEN, effective from May 8, 2025. These schemes aim to offer competitive interest rates to depositors with an investment ceiling of less than Rs 3 crore. 

The IND SECURE scheme, with a maturity period of 444 days, provides an interest rate of 7.15% per annum for the general public, 7.65% for senior citizens, and 7.90% for super senior citizens. The IND GREEN scheme offers a slightly longer tenure of 555 days with parallel interest rates. 

IND Secure - Retail Term Deposit

In tandem with these new introductions, Indian Bank has opted to discontinue two of its previous FD offerings: IND SUPER 400 Days and IND SUPREME 300 Days. The discontinuation of these schemes took effect on May 8, 2025, marking a shift in the bank’s retail deposit strategy. This change underscores the bank's approach to refining its product range to better align with current market demands and provide depositors with more competitive returns. 

The bank's revised interest rate structure post-launch reflects a range of 2.80% to 7.15% annually for fixed deposits under Rs 3 crore, depending on the deposit tenor. The introduction of IND SECURE and IND GREEN is indicative of Indian Bank's strategic response to the broader market environment, characterised by evolving economic factors and interest rate adjustments. Such revisions are a common practice among banks aiming to optimise their deposit portfolios and maintain investor appeal amid fluctuating market conditions. 

Other banks' FD rates

Punjab National Bank has decreased its FD interest rates for retail deposits under ₹3 crore by up to 25 basis points. The revised rates range from 3.50% to 7.10% for terms between 7 days and 10 years. The highest return of 7.01% is available for a 390-day term. Similarly, Kotak Mahindra Bank has lowered its rates to between 2.75% and 7.15% for regular customers, with senior citizens benefiting from rates between 3.25% and 7.65%. These adjustments highlight the banks' efforts to manage liquidity in a changing economic environment.

IDFC FIRST Bank's new interest rates range from 3% to 7.25% for deposits below ₹3 crore, with senior citizens receiving 3.5% to 7.75%. The most attractive rates are offered for a 400-500 day tenure. Meanwhile, AU Small Finance Bank provides rates between 3.75% and 7.75% for general citizens, and 4.25% to 8.05% for seniors. IndusInd Bank has taken a different approach by increasing rates for long-term deposits while reducing them for short-term ones. Their new rates span from 3.5% to 7.75% for regular customers and up to 8.25% for seniors, with the highest rates applicable to deposits over 15 to 16 months.

Bandhan Bank has also revised its FD interest rates, offering between 3% and 7.75% for deposits under ₹3 crore. Senior citizens are offered between 3.75% and 8.25%, with the highest rates applicable for a one-year term. These changes reflect banks' strategies to remain competitive while adapting to the lower repo rate environment. Fixed deposits remain a popular choice for risk-averse investors due to their stable returns and capital preservation, despite these fluctuating rates.