Indian Bank Updates 'IND Green 555 Days' FD Rates: Senior Citizens Can Now Earn Up to 7.15%

Mumbai: Indian Bank has announced updated interest rates for its specialized "IND Green 555 Days" Term Deposit scheme. This fixed-maturity product, which combines financial growth with environmental sustainability, offers competitive returns for a specific tenor of 555 days.

The revised rates, effective from January 1, 2026, aim to provide higher yields for senior citizens and super senior citizens while directing capital toward eco-friendly development projects.

Interest Rate Structure: Current Yields

The IND Green 555 Days scheme is structured to provide tiered benefits based on the age and category of the depositor. Below are the current annual interest rates as per the latest bank notification:

Additional Benefits for Bank Staff

Current and retired bank employees are eligible for further interest rate increments. Rates for Staff Super Senior Citizens can reach as high as 8.15%. It is important to note that these additional rates do not apply to NRE or NRO account holders.

Also Read: Latest FD Rates 2026: SBI, PNB, ICICI, BoB, Canara Bank & HDFC, Axis After RBI Repo Rate Pause

Defining the "Green Deposit" Framework

Unlike a standard Fixed Deposit (FD), the proceeds from the IND Green 555 Days scheme are specifically earmarked for "Green Projects." These include investments in:

• Renewable energy (Solar and Wind power)

• Energy efficiency initiatives

• Sustainable waste management

• Green building construction

Premature Withdrawal Policy: While investors can withdraw their funds before the 555-day maturity period, doing so will result in the deposit losing its "Green" classification. However, the bank confirms that premature withdrawals do not affect the ongoing environmental projects funded by the initial deposit.

Key Features and Eligibility

For investors considering this scheme in 2026, the following parameters apply:

• Minimum Investment: Rs. 1,000

• Maximum Limit: Less than Rs. 3 Crore

• Tenor: Fixed at 555 Days

• Payout Options: Investors can choose to receive interest at Monthly, Quarterly, or Maturity intervals.

• Eligible Entities: Individuals, NRIs (NRE/NRO), HUFs, Firms, Societies, and Government bodies.

• Liquidity Options: Overdraft and Demand Loan facilities are available against the deposit as per standard banking norms.

Application and Compliance

Indian Bank has enabled multiple channels for opening an IND Green 555 Days account. Applicants must be fully KYC compliant and provide a valid PAN or Form-60.

1. Digital Channels: Accessible via the IndSMART Mobile App or Internet Banking.

2. Offline Channels: Available at any physical Indian Bank branch.

3. TDS Regulations: Tax Deducted at Source (TDS) applies as per Income Tax rules. Eligible customers may submit Form 15G or 15H for non-deduction.

Automatic Renewal Option

The scheme includes an auto-rollover feature. If the scheme is active on the date of maturity, the deposit will automatically renew for another 555 days at the then-prevailing interest rate. If the specific scheme has been discontinued, the matured amount will automatically renew for a standard one-year period.


Disclaimer: This article is for informational purposes only. Interest rates and banking policies are subject to change at the bank's discretion. While every effort has been made to ensure the accuracy of the data based on official notifications, investors are advised to verify the latest rates and terms directly with Indian Bank or on their official website (www.indianbank.in) before making any investment. Fixed Deposit investments are subject to the terms and conditions of the issuing bank.