IndusInd Bank FD Rates: Private sector IndusInd Bank is offering up to 7.75% returns on fixed deposits to senior citizens. A return of 6.75 per cent is being offered on a five-year tax saving term deposit.
IndusInd Bank FD Rates: Amidst the ongoing hike in the interest rate, all banks are increasing the rates of interest on fixed deposits. Many small finance banks are giving returns of up to 9% on FDs. In this episode, IndusInd Bank of the private sector has increased the FD rate. The new interest rate is applicable from 29 November. The bank is offering a minimum interest of 3.5 per cent and a maximum interest of 7.75 per cent. Senior citizens will get an additional benefit of 50 basis points in interest. The minimum interest rate for them is 4 percent and the maximum interest rate is 7.75 percent. Term Deposits can be made for a minimum of 7 days and a maximum of 61 months.
At least 3.50 percent interest
According to the information available on the bank’s website, interest on FD for 7-30 days is 3.50 per cent, 4 per cent for 31-45 days, 4.25 per cent for 46-60 days, 4.50 per cent for 61-120 days, 121-180 4.75 per cent for the day, 5.50 per cent for 181-269 days, 5.75 per cent for 270 days or 354 days, 6 per cent returns on FDs of 355 days or 364 days.
Getting interest up to 6.75 percent
From 1 year to less than 1 year and 6 months, a return of 6.75% is being received. From 18 months to 24 months to less than one day 7%, from 24 months to 25 months 7.25%, interest rate on FDs from more than 25 months to less than 36 months is 7%, from 36 months to less than 61 months 6.75 percent interest is being received on interest on FD. Interest is being received at 6.50 per cent on FDs of 61 months or above and 6.75 per cent on five-year tax saver fixed deposits.
Additional benefit of 50bps in interest to senior citizens
Senior citizens will get an additional benefit of 50 basis points in the interest rate. For them, the minimum interest rate on term deposits is 4 percent and the maximum interest rate is 7.75 percent. This interest rate is for fixed deposits up to 2 crores. Excess interest over the limit is taxable. If the PAN card is not updated then TDS of 20% will be deducted.
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