Private sector lender IndusInd Bank has increased interest rates on fixed deposits of less than Rs. According to the official website of the 2 crore bank, the higher interest rates are effective from August 12, 2022. After adjustment, the bank is now offering fixed deposits with maturities ranging from 7 days to 10 years with interest rates ranging from 3.50% to 6.75% for general public and 4.25% to 7.50% for senior citizens.
IndusInd Bank FD Rates
On fixed deposits maturing in 7 days to 14 days, the bank has increased the interest rate from 2.75% to 3.50%, increased the interest rate by 75 bps and on fixed deposits maturing in 15 days to 30 days The interest rate has been increased from 3.00. % of increase of 50 bps to 3.50%. Fixed deposit Maturing in 31 days to 45 days will now offer an interest rate of 4.00% which was earlier an increase of 50 bps by 3.50% and fixed deposits maturing in 46 days to 60 days will now offer an interest rate of 4.00% An increase of 35 bps from 3.65% earlier.
IndusInd Bank hikes its interest rate from 3.75% to 4.25%, an increase of 50 bps Fixed deposit Maturing in 61 days to 90 days and the bank has increased its interest rate on fixed deposits maturing in 91 days to 120 days from 4.00% to 4.50%. On fixed deposits maturing from 121 days to 180 days, the bank has increased the interest rate from 4.50% to 4.75%, by 25 bps and on fixed deposits maturing from 181 days to 210 days, the bank has increased the interest rate to 4.75% increased from. 5.0% increase of 25 bps.
Fixed deposits maturing in 211 days to 269 days will now be offered an interest rate of 5.25% from 5.00% earlier, an increase of 25 bps, while deposits maturing in 270 days or 354 days will now be offered an interest rate of 5.50%. The offer will continue. The bank will continue to offer an interest rate of 5.50% on fixed deposits maturing in 355 days or 364 days and on fixed deposits maturing in 1 year to less than 6 months, the bank has increased the interest rate from 6.00% to 6.25% has been extended. 25 bps increase.
On fixed deposits of less than 2 years in 1 year 6 months, the bank has increased the interest rate by 75 bps from 6.00% to 6.75%. IndusInd Bank has increased the interest rate on fixed deposits maturing in 2 years from 6.50% to 6.75% and the bank has increased the interest rate on fixed deposits maturing in 61 months and above from 6% to 6.25%. The bank has increased the interest rate on Indus Tax Saver Scheme (5 years) from 6.50% to 6.75%, which is an increase of 25 bps.
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IndusInd Bank on its website has mentioned that “in the event of premature withdrawal before the specified period, the applicable interest rate will be the interest rate corresponding to the amount based slab (withdrawal amount) and the actual run period (tenure) thereof.” In addition, if applicable, a penal interest of 1% will be levied on premature withdrawal.”
For the benefit of senior citizens Fixed depositIndusInd Bank, on its website, has stated that “an additional interest rate of 0.75% over and above the card rates for term deposits of senior citizens (age 60 years and above) is applicable for value less than Rs. 2 crore (NRO deposits). However, if the senior citizen chooses to hold a deposit of value more than or equal to Rs 2 crore, the benefit of additional interest will not be available.”
indusind bank But the increase in interest rates savings accounts On August 10, 2022. As at present, the bank is now offering 3.50% interest rate on daily balance in savings accounts up to Rs. 1 lakh and above 1 lakh to Rs. 10 lakhs. IndusInd Bank will now offer an interest rate of 4.50% on daily savings account balance above Rs. 10 lakh and Rs. 1 crore, and maximum interest rate of 5.50% on daily savings account up to Rs. 1 crore and Rs. 100 crores.
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