This Private Sector Bank Revises FD Rates: Now Get Up To 6.15%

The private sector lender South Indian Bank has made interest rate revision on fixed deposits of less than Rs 2 Cr. The bank made this announcement on 22nd April 2022 according to its official website and following the revision, the bank is now promising a regular interest rate of 2.50% to 5.50% to the general public and 3.00% to 6.00% to senior citizens on term deposits maturing in 7 days to 10 years.

South Indian Bank FD Rates

With effect from April 22, 2022, the bank is giving a 2.50 per cent interest rate on domestic fixed deposits of less than Rs 2 crore maturing in 7 days to 30 days. The interest rate on deposits maturing in 31 days to 90 days would be 3.00 per cent. Fixed deposits maturing in 91 days to 180 days and 181 days to 270 days currently pay 3.80 per cent and 4.10 per cent interest, respectively. Term deposits maturing in 271 days to less than 1 year and 1 year to less than 30 months now offer 4.50 per cent and 4.90 per cent, respectively.

South Indian Bank will now offer an interest rate of 5.25% and 5.40% on deposits maturing in 30 months to less than 3 years and 3 years to less than 5 years, respectively. The bank provides a maximum interest rate of 5.65 per cent on tax-saving fixed deposits of up to Rs 1.5 lakh maturing in five years, and 5.50 per cent on deposits maturing in five years and up to and including ten years. Senior citizens will continue to get a 0.50 per cent additional premium on their deposits across all tenors.

Here are the latest interest rates per annum of South Indian Bank applicable on domestic deposits of less than Rs 2 Cr.

Period	General	Senior Citizens
7 days to 30 days	2.50%	3.00%
31 days to 90 days	3.00%	3.50%
91 days to 180 days	3.80%	4.30%
181 days to 270 days	4.10%	4.60%
271 days to less than 1 year	4.50%	5.00%
1 year to less than 30 months	4.90%	5.40%
30 months to less than 3 years	5.25%	5.75%
3 years to less than 5 years	5.40%	5.90%
5 years	5.65%	6.15%
Above 5 years to up to and including 10 years	5.50%	6.00%
Tax Gain ( 5 Years )	5.65%	6.15%
Source: southindianbank.com