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Indian Bank's Special 555-Day FD: Get Surprising Returns on Rs 6 Lakh Investment!
- •Indian Bank offers a special 555-day FD scheme called IND Grow with attractive interest rates.
- •The scheme provides interest rates ranging from 6.65% for regular customers to 7.40% for super senior citizens.
- •Regular customers investing Rs 6 lakh for 555 days can earn approximately Rs 63,292 in interest, with a maturity value of around Rs 6,63,292.
- •Senior citizens investing Rs 6 lakh can receive an estimated Rs 68,270 in interest, leading to a maturity amount of approximately Rs 6,68,270.
- •This special tenure FD is ideal for those who do not need immediate access to their funds and seek higher returns.
Key Questions Answered
Indian Bank offers a special fixed deposit scheme called IND Grow for a tenure of 555 days. This specific tenure scheme provides attractive interest rates ranging from 6.65 percent to 7.40 percent depending on the category of the customer.
For the 555-day FD scheme, regular individuals up to 59 years of age receive an interest rate of 6.65 percent. Senior citizens aged 60 and above get 7.15 percent, while super senior citizens receive a higher interest rate of 7.40 percent.
For regular customers investing 6 lakh rupees at 6.65% interest, the total maturity amount is approximately 6,63,292 rupees with an estimated interest of 63,292 rupees. For senior citizens at 7.15%, the maturity amount can be approximately 6,65,219 rupees under simple interest or around 6,68,270 rupees with quarterly compounding.
