IndusInd Bank has increased the interest rates on fixed deposits of less than Rs 2 crore. According to the bank’s website, the new rates will be applicable from February 16, 2023.
IndusInd Bank has increased the interest rates on fixed deposits of less than Rs 2 crore. According to the bank’s website, the new rates will be applicable from February 16, 2023. After this increase, common depositors will now get interest up to a maximum rate of 7.5 per cent. At the same time, senior citizens can earn up to 8.25 percent interest rate in the bank.
What are the new interest rates on FD?
According to the website of IndusInd Bank, the bank will now get interest at the rate of 3.50 per cent on fixed deposits maturing between 7 and 30 days. At the same time, the bank will have 4.00 percent interest rate on fixed deposits with a period between 31 days and 45 days. Whereas, interest will be at the rate of 4.50% on FDs with tenure ranging from 46 days to 60 days. On the other hand, interest will be given at the rate of 4.60 percent on FDs with maturity of 61 days and 90 days.
On the other hand, the interest rate on fixed deposits with maturity of 91 days and 120 days has gone up to 4.75 per cent. Interest will be available at the rate of 5.00 percent on FDs of 121 days to 180 days in this private bank. At the same time, the interest rate on fixed deposits between 181 days and 210 days has been increased to 5.75 percent. The bank will have an interest rate of 5.80 per cent on fixed deposits with maturity between 211 days and 269 days.
Customers will get so much benefit
At the same time, the interest rate on FDs maturing between 270 days and 354 days in IndusInd Bank will be 6 percent. On the other hand, FDs between 355 days and 364 days will now get interest at the rate of 6.75 per cent. The interest rate on fixed deposits with a tenure between 355 days and 364 days in the bank has been increased to 6.25 percent. Whereas, interest will be given at the rate of 7% on FDs of one year to one year and six months. FDs with tenure ranging from one year and six months to two years will have an interest rate of 7.25 per cent.
Let us tell you that the Reserve Bank of India i.e. RBI had announced an increase of 25 basis points in the repo rate in its monetary policy meeting on 8 February. After this, SBI had increased the interest rates on select fixed deposits by up to 25 basis points.
