Indian Bank 555-Day FD offers a special fixed-deposit tenure with higher interest for senior citizens.
The bank’s IND Shakti 555 Days deposit is available for 555 days, with the latest bank information listing 7.00% per annum for the general public and 7.50% for senior citizens.
The deposit is available for investments below Rs 2 crore and can be opened as either a Fixed Deposit or Money Multiplier Deposit, according to Indian Bank.
Indian Bank 555-Day FD Offers Higher Senior Rates
Under the special 555-day deposit, general customers can earn 7.00% per annum, while eligible senior citizens receive 7.50% per annum.
The additional rate for senior citizens is part of Indian Bank’s applicable senior-citizen benefit.
For example, at a simple annual-rate calculation, Rs 5 lakh invested at 7.00% would correspond to about Rs 35,000 in interest over one year.
Actual FD interest and maturity proceeds can differ depending on the bank’s interest-payment method and compounding terms.
What Indian Bank’s 555-Day Deposit Offers
The IND Shakti 555 Days scheme permits investments below Rs 2 crore. Customers can choose between an FD and a Money Multiplier Deposit, while callable options are also available under the scheme.
Indian Bank’s general fixed-deposit information says senior citizens are eligible for an additional 0.50 percentage point per annum for aggregate deposits up to Rs 10 crore, subject to the bank’s specified conditions.
The bank also provides facilities including nomination, loans and premature closure for its fixed deposits, subject to applicable terms and conditions.
How the 555-Day FD Compares
The 555-day tenure is also offered by several other banks. Recent September 2026 data from Paisabazaar showed rates ranging from 6.55% to 7.25% for general customers among six banks surveyed, while senior-citizen rates ranged from 7.05% to 7.50%.
The same data listed Indian Bank at 6.65% for general customers and 7.15% for senior citizens, illustrating that FD rates can vary depending on when the data is collected and which particular deposit scheme is being considered.
Check the Rate Before Booking
FD interest rates can change, and the rate applicable to a customer depends on the specific deposit scheme, amount, customer category and booking date.
Depositors should therefore verify the applicable rate and terms with Indian Bank before opening the deposit.
For senior citizens, the additional interest rate can increase returns over the deposit period, but the final maturity amount depends on the chosen interest-payment and compounding option.
