This Private Sector Bank Alters Interest Rates On Domestic Fixed Deposits: Now Get Up To 6.15%

Published: Thursday, December 23, 2021, 16:36 [IST]

South Indian Bank has revised its interest rates today on various fixed deposit schemes. According to the bank's official website, the new rates will take effect from December 23, 2021, and will apply to both domestic and Non-Residential External (NRE) term deposits. Only new deposits and renewals of maturing deposits will be subject to the recently modified interest rates.

South Indian Bank Domestic Fixed Deposit Interest Rates For Regular Customers

The bank has changed its interest rates on domestic term deposits today. Following the most recent revision, the bank is offering an interest rate of 2.50%, 3.00% and 3.80% on deposits maturing in 7 days to 30 days, 31 days to 90 days and 91 days to 180 days. To the general public, the bank from today will give an interest rate of 4.10%, 4.50%, 5.10%, 5.35% on their deposits maturing in 181 days to 270 days, 271 days to less than 1 year, 1 year to less than 30 months and 30 months to less than 3 years.

On deposits maturing in 3 years to less than 5 years, 5 years and above 5 years to up to and including 10 years, the general public will receive interest rates of 5.50 percent, 5.65 percent, and 5.50 percent from today respectively. The bank's latest interest rates on term deposits of less than Rs 2 Cr for regular customers are as follows.

Period	Interest rates p.a.
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	5.10%
30 months to less than 3 years	5.35%
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 23rd December 2021

South Indian Bank Domestic Fixed Deposit Interest Rates Senior Citizens

Senior citizens will continue to get an additional rate of 0.50% over and above the regular card rate on their deposits. South Indian Bank from today is promising an interest rate of 3% to 6.15% to senior citizens on their deposits maturing in 7 days to 10 years. Fixed deposit interest rates for senior citizens of South Indian Bank are listed below.

Period	Interest rates p.a.
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	5.60%
30 months to less than 3 years	5.85%
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 23rd December 2021

South Indian Bank NRE Term Deposits Interest Rates

South Indian Bank has also changed its interest rates on Non-Residential External (NRE) term deposits with effect from December 23, 2021. The bank's current interest rates on NRE deposits of less than Rs 2 crore are listed below.

Period	Interest rates p.a.
1 year to less than 30 months	5.10%p.a
30 months to less than 3 years	5.35%p.a
3 years 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 23rd December 2021