South Indian Bank Revises Interest Rates On Fixed Deposits: Check New Rates

Published: Friday, January 21, 2022, 8:57 [IST]

South Indian Bank, a private sector lender, has changed its interest rates on domestic term deposits of less than Rs. 2 Cr. According to the bank's official website, the new rates are effective as of 20th January 2022. Following the latest adjustment, the general public will now get an interest rate of 2.50 percent to 5.50 percent on deposits maturing in 7 days to 10 years, while senior citizens will receive 3.00 percent to 6.00 percent.

South Indian Bank Fixed Deposit Interest Rates For Regular Customers

Regular citizens will now receive a 2.50 percent interest rate on domestic term deposits of less than Rs. 2 crore maturing in 7 to 30 days. Deposits maturing in 31 days to 90 days and 91 days to 180 days will now return 3.00 percent and 3.80 percent, respectively. On fixed deposits maturing in 181 days to 270 days and 271 days to less than one year, the general public will now receive interest rates of 4.10 percent and 4.50 percent.

South Indian Bank is currently giving the general public interest rates of 4.90 percent and 5.25 percent on deposits maturing in one year to less than 30 months and 30 months to less than three years, respectively. Non-senior citizens will now get 5.50 percent and 5.65 percent interest on domestic term deposits maturing in 3 years to less than 5 years and 5 years, respectively. The bank is currently offering 5.50 percent and 5.65 percent interest rates to the general public on deposits maturing in more than 5 years and up to and including 10 years, as well as 5-year tax-saving fixed deposits.

Tenor	Interest rate per annum for non-senior citizens
7 days to 30 days	2.50%
31 days to 90 days	3.00%
91 days to 180 days	3.80%
181 days to 270 days	4.10%
271 days to less than 1 year	4.50%
1 year to less than 30 months	4.90%
30 months to less than 3 years	5.25%
3 years to less than 5 years	5.50%
5 years	5.65%
Above 5 years to up to and including 10 years	5.50%
Tax Gain ( 5 Years )	5.65%
Source: Bank Website. W.e.f. 20th January 2022

South Indian Bank Fixed Deposit Interest Rates For Senior Citizens

Senior citizens will continue to get a 0.50 percent additional premium on their domestic term deposits across all tenors. Senior citizens will now get the following interest rates on their fixed deposits as of January 20, 2022.

Tenor	Interest rate per annum for senior citizens
7 days to 30 days	3.00%
31 days to 90 days	3.50%
91 days to 180 days	4.30%
181 days to 270 days	4.60%
271 days to less than 1 year	5.00%
1 year to less than 30 months	5.40%
30 months to less than 3 years	5.75%
3 years to less than 5 years	6.00%
5 years	6.15%
Above 5 years to up to and including 10 years	6.00%
Tax Gain ( 5 Years )	6.15%
Source: Bank Website. W.e.f. 20th January 2022

South Indian Bank NRE Term Deposits Interest Rates

The interest rates for NRE Term Deposits of less than Rs. 2 crore have also been adjusted by South Indian Bank. The bank is providing the following interest rates on NRE deposits as of January 20, 2022.

Tenor	Single Deposit less than Rs.2 Cr
1 year to less than 30 months	4.90%p.a
30 months to less than 3 years	5.25%p.a
3 year to less than 5 years	5.50%p.a
5 years	5.65%p.a
Above 5 years to up to and including 10 years	5.50%p.a
Source: Bank Website. W.e.f. 20th January 2022