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Fixed & recurring deposits

Indian Bank Variable Recurring Deposit

Three-year recurring deposit that starts at ₹500 and lets the depositor vary later monthly instalments up to ₹10 lakh, with quarterly compounding and no penal interest for delayed instalments.

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 rateAdditional 0.50% p.a. for eligible senior citizens; the current rate schedule applies the published aggregate ceiling and excludes stated HUF/Capital Gains exceptions.Tenure / programmeRecurring Deposit: minimum 6 months and normally maximum 10 years in three-month multiples. Variable Recurring Deposit: fixed 3-year term.
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Quick eligibility check

Indian Bank Variable Recurring Deposit

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: Depositor follows Indian Bank RD/KYC rules?

2Do you meet this requirement: senior-citizen premium is subject to the current rate schedule and aggregate ceiling?

3Document checkDo you have this required document or proof: RD opening 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 / programmeRecurring Deposit: minimum 6 months and normally maximum 10 years in three-month multiples. Variable Recurring Deposit: fixed 3-year term.View source
The two official pages publish the separate and VRD periods.
Source
Recurring Deposit; Variable Recurring Deposit
Page / section
Min period / period
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Minimum / deposit amountRecurring Deposit: monthly ₹100 and multiples thereof. Variable Recurring Deposit: initial ₹500 or multiples of ₹100 up to ₹1 lakh; later instalments can reach ₹10 lakh per month.View source
The official pages publish the minimum and VRD initial/subsequent limits.
Source
Recurring Deposit; Variable Recurring Deposit
Page / section
Min amount
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Senior-citizen rateAdditional 0.50% p.a. for eligible senior citizens; the current rate schedule applies the published aggregate ceiling and excludes stated HUF/Capital Gains exceptions.View source
The live schedule states the recurring-deposit premium and eligibility limits.
Source
Deposit Rates
Page / section
Senior-citizen and recurring-deposit premium notes
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Withdrawal / refund termsLoan, nomination and foreclosure are available. RD foreclosure attracts a term-deposit penalty; VRD has a foreclosure penalty but no penal interest for delayed instalments.View source
The product pages publish loan/foreclosure and delayed-payment treatment.
Source
Recurring Deposit; Variable Recurring Deposit
Page / section
Other requirements/details
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Payout / redemptionQuarterly compounding; maturity or foreclosure proceeds follow the applicable term-deposit rate and TDS rules.View source
The page states quarterly compounding and applicability.
Source
Recurring Deposit
Page / section
Interest application
Accessed
31 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • Initial deposit ₹500 or multiples of ₹100 up to ₹1 lakh
  • Subsequent monthly instalments may vary up to ₹10 lakh per month
  • Three-year term and quarterly compounding
  • Loan, nomination and foreclosure facilities
  • No penal interest on delayed instalments; interest uses the minimum balance from the 10th to month-end

Eligibility

  • Depositor follows Indian Bank / rules; senior-citizen premium is subject to the current rate schedule and aggregate ceiling.

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

Documents the bank lists

  • opening form, , /Form 60 and nomination instruction

Related official documents

Deposit Rates — Indian Bankofficial-rate-sheet · current · accessed 31 Aug 2026
↗
Variable Recurring Deposit — Indian Bankofficial-product-page · current · accessed 31 Aug 2026
↗

Plan before applying

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Recurring-deposit 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₹3,22,364three lakh twenty-two thousand three hundred sixty-four rupees
Money you put in₹3,00,000three lakh rupees
Interest earned₹22,364twenty-two thousand three hundred sixty-four 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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