Indian Bank is an Indian state-owned financial services company established in 1907 and headquartered in Chennai, India. It has 20,661 employees, 2594 branches and is one of the top performing public sector banks in India.


The Information About the Variable Recurring Deposit /Flexi Deposit of the Indian bank is given below

Interest Application
Quarterly compounding

Salient Features
A recurring deposit scheme with the option of varying the monthly installments is called the Variable Recurring deposit scheme

Min Amt
Initial deposit Rs.25 or in multiples of Rs.25 upto a maximum of Rs. 1 lakh
Can vary subsequent monthly instalment subject to a maximum of Rs. 10 lakhs per month.

Min Period •
Minimum period – 12 months and the maximum period – 120 months

Other Requirements/Details
Loan, nomination and foreclosure facilities.
No penal interest on delayed payment of instalments
Interest will be paid on the minimum balance between 10th and last day of the month. TDS applicable