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Fixed & recurring deposits

Indian Bank IB Tax Saver Scheme

Five-year tax-saving fixed or money-multiplier deposit from ₹1,000 to ₹1,50,000, with quarterly or discounted monthly interest, nomination and no loan or foreclosure.

Interest rateRate follows Indian Bank's current deposit-rate schedule by product, tenor and customer category. The reviewed schedule publishes domestic retail term-deposit card rates from 2.80% to 6.80% p.a. and savings rates from 2.50% to 2.80% p.a.; exact applicable rate must be selected by tenor at booking.Senior-citizen rateIB Tax Saver is eligible for the additional 0.50% p.a. senior-citizen rate. Capital Gains deposits do not receive an additional staff or senior-citizen rate.Tenure / programmeIB Tax Saver Scheme: 5-year lock-in. Capital Gains Term Deposit: 7-day minimum and maximum 3 years; Deposit A is savings and Deposit B is cumulative or non-cumulative term deposit.
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Quick eligibility check

Indian Bank IB Tax Saver Scheme

0 of 3 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Do you meet this requirement: The scheme is designed for depositors claiming section 80C deduction?

2Do you meet this requirement: tax treatment and rate follow current rules?

3Document checkDo you have this required document or proof: Tax-saver deposit form, KYC, PAN/Form 60 and nomination instruction?

0 of 3 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 31 Aug 2026 · active
Offered byIndian Bank

India

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Interest rateRate follows Indian Bank's current deposit-rate schedule by product, tenor and customer category. The reviewed schedule publishes domestic retail term-deposit card rates from 2.80% to 6.80% p.a. and savings rates from 2.50% to 2.80% p.a.; exact applicable rate must be selected by tenor at booking.View source
The live schedule is the controlling source for tenor-specific rates; no single rate is inferred for all deposit products.
Source
Deposit Rates
Page / section
Domestic retail term-deposit table w.e.f. 04.08.2026
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Tenure / programmeIB Tax Saver Scheme: 5-year lock-in. Capital Gains Term Deposit: 7-day minimum and maximum 3 years; Deposit A is savings and Deposit B is cumulative or non-cumulative term deposit.View source
The two official pages publish the tax-saver lock-in and Capital Gains periods/types.
Source
IB Tax Saver Scheme; Capital Gains
Page / section
Period; minimum period; account types
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Minimum / deposit amountIB Tax Saver: ₹1,000 in multiples of ₹100 up to ₹1,50,000. Capital Gains: minimum ₹1,000.View source
The official pages publish the tax-saver range and Capital Gains minimum.
Source
IB Tax Saver Scheme; Capital Gains
Page / section
Min Amt
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Senior-citizen rateIB Tax Saver is eligible for the additional 0.50% p.a. senior-citizen rate. Capital Gains deposits do not receive an additional staff or senior-citizen rate.View source
The scheme pages distinguish the tax-saver premium from the Capital Gains exclusion.
Source
IB Tax Saver Scheme; Capital Gains
Page / section
Other requirements/details
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Withdrawal / refund termsIB Tax Saver: no loan or foreclosure during the five-year lock-in. Capital Gains: withdrawals permitted as prescribed by the scheme; interest payments subject to TDS.View source
The official pages publish the tax-saver lock-in/no-foreclosure rule and Capital Gains withdrawal treatment.
Source
IB Tax Saver Scheme; Capital Gains
Page / section
Other requirements/details
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Payout / redemptionIB Tax Saver interest quarterly, discounted monthly or at maturity. Capital Gains interest method follows ordinary savings or term-deposit accounts; Deposit B may be cumulative or non-cumulative.View source
The official pages publish the payout choices for each scheme.
Source
IB Tax Saver Scheme; Capital Gains
Page / section
Interest application; account types
Accessed
31 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • Minimum ₹1,000 in multiples of ₹100; maximum ₹1,50,000
  • Five-year lock-in
  • Interest quarterly, discounted monthly or at maturity
  • Eligible for section 80C tax rebate
  • Senior-citizen premium 0.50% p.a.; nomination available; no loan or foreclosure

Eligibility

  • The scheme is designed for depositors claiming section 80C deduction; tax treatment and rate follow current rules.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • Tax-saver deposit form, , /Form 60 and nomination instruction

Related official documents

Deposit Rates — Indian Bankofficial-rate-sheet · current · accessed 31 Aug 2026
↗
IB Tax Saver Scheme — Indian Bankofficial-product-page · current · accessed 31 Aug 2026
↗

Plan before applying

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Deposit maturity estimate

See how much the deposit may be worth at the end. You can change the bank's published rate to test another case.

Money at maturity₹1,14,971one lakh fourteen thousand nine hundred seventy-one rupees
Money you put in₹1,00,000one lakh rupees
Interest earned₹14,971fourteen thousand nine hundred seventy-one rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

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Savings Bank Account · Minimum / limitNil minimum balance; no maximum

This value is copied from Indian Bank accounts and deposits — published terms. Check the table notes before relying on it.

Source: Indian Bank term-deposit catalogue and rate schedule · Savings, fixed, short-term, , VRD, MMD, tax-saver, Capital Gains and deposit-rate pages Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 8 rows · 6 columnsIndian Bank accounts and deposits — published termsCore account and deposit amounts, tenures, rate rules, withdrawal and access terms from the official pages and current rate schedule.View tableHide table

Scroll sideways to view every column

Indian Bank accounts and deposits — published terms
ProductMinimum / limitTenureInterest / payoutWithdrawal / facilitiesEligibility highlights
Savings Bank AccountNil minimum balance; no maximumOpen-ended2.50%–2.80% p.a. by balance; daily calculation, quarterly credit₹0 non-maintenance charge; 20 free cheque leaves; free RuPay card; 50 free withdrawals/half-year; digital channelsIndividuals, joint holders and listed institutions
Fixed Deposit₹1,000; no maximum6 months–10 yearsQuarterly or discounted monthlyLoan, nomination, automatic renewal and preclosureEligible depositors; senior +0.50% p.a. within published limits
Short Term Deposit₹1,000 + ₹100 multiples; no maximum7–180 daysPaid with principal at maturityRenewal, nomination, preclosure, loan; penalty appliesIndividuals, minors, joint holders, firms, companies, associations
Recurring Deposit₹100 monthly and multiples6 months–normally 10 years; 3-month multiplesQuarterly compounding; maturity/foreclosureLoan, nomination, foreclosure; Eligible resident depositors
Variable Recurring DepositInitial ₹500–₹1 lakh; later up to ₹10 lakh/month3 yearsQuarterly compounding; minimum-balance interest methodLoan, nomination, foreclosure; no penal interest for delayed instalmentsDepositors wanting variable instalments
Money Multiplier Deposit₹1,000 + ₹100 multiples; no maximum6 months–normally 10 yearsQuarterly compoundingEqual-period renewal, loan, nomination, preclosure penaltyEligible term-deposit customers
IB Tax Saver Scheme₹1,000–₹1,50,0005 yearsQuarterly, discounted monthly or maturityNo loan or foreclosure; nominationSection 80C tax-saving deposit
Capital Gains Term Deposit₹1,000 minimum7 days–3 yearsDeposit A savings; Deposit B cumulative/non-cumulative termWithdrawals under scheme rules; ; nominationCapital-gains taxpayers under sections 54(B/D/F/G)
Indian Bank term-deposit catalogue and rate schedule · Savings, fixed, short-term, , VRD, MMD, tax-saver, Capital Gains and deposit-rate pages · accessed 31 Aug 2026Open official source ↗

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