Indian Bank RD Calculator

Indian Bank Recurring Deposits Explained

Indian Bank offers recurring deposits from six months to ten years. The bank roughly doubled in size on 1 April 2020, when Allahabad Bank was amalgamated into it — a merger that combined a Chennai-headquartered southern network with Allahabad Bank's established presence across the north and east, and brought one of the oldest continuous banking lineages in the country, dating to 1865, under the Indian Bank name.

Indian Bank RD Schemes You Can Open

Indian Bank prefixes its retail deposit products with IB, and the variant decides the instalment discipline rather than the compounding method:

• •IB Recurring Deposit — The conventional fixed-instalment account, with tenures in three-month steps and a low minimum monthly deposit aimed at regular savers.
• •IB Flexi Recurring Deposit — A variant allowing the monthly contribution to vary within a defined band, so an uneven income does not push the account into default.
• •IB Tax Saver and senior citizen deposits — Lock-in deposit products sitting beside the recurring range, together with the rate premium Indian Bank extends to depositors aged 60 and above.

Missed Instalments and Early Closure at Indian Bank

A missed instalment attracts a default fee scaled to both the size of the instalment and how many months it stays unpaid, collected when you bring the account current or deducted from the maturity proceeds. Leave it unpaid long enough and Indian Bank marks the deposit discontinued, closing it out on whatever instalments were actually received. Closing early is possible once the minimum period has run, but the payout is recalculated over the shorter period the money was genuinely invested for, with a penalty applied to that rate.

How to Check Indian Bank RD Interest Rates

RD rates change with RBI policy and each bank's own treasury decisions, so no figure is quoted on this page. Take the rate applicable to your tenure from the IndOASIS app, Indian Bank net banking, or a branch, then enter it above alongside your monthly instalment to see the exact maturity value.

What Is Specific to an Indian Bank RD

• •The 2020 amalgamation means former Allahabad Bank customers now transact under Indian Bank IFSC codes — verify the current code before funding a deposit by external transfer.
• •The merged network is genuinely national rather than regional, pairing a southern base with Allahabad Bank's northern and eastern branches.
• •IndOASIS handles the full deposit lifecycle, from opening and standing instruction through to maturity instruction and premature closure.
• •A loan against the accumulated recurring balance is available after a qualifying period, at a spread over the contracted deposit rate.

Enter the rate Indian Bank quotes for your chosen tenure into the calculator above to see the exact maturity value and the year-by-year interest build-up.

To compare this against another lender, or against a lump-sum deposit, use the master RD calculator or the fixed deposit calculator.