New Delhi. IndusInd Bank has changed the interest rates on its non-callable FDs above Rs 1 crore and less than Rs 5 crore. Non-callable deposits are those fixed deposits which cannot be withdrawn before maturity.
According to the information given on the official website of the bank, the new interest rates will be effective from September 23, 2022. Following this change, IndusInd Bank is now offering interest rates ranging from 4.00% to 6.65% on non-callable FDs maturing in 7 days to 61 months or more.
Here are the new rates of interest on FDs
IndusInd Bank is offering a maximum interest rate of 6.65% while increasing the interest rates on non-callable FDs. Looking at the new rates, the bank is now promising an interest rate of 4.00% on non-callable FDs maturing in 7 days to 14 days, 4.10% for FDs of 15 days to 30 days. As per the new rates, IndusInd Bank now offers 4.35% on FDs maturing in 31 days to 45 days, 4.45% for 46 days to 60 days, 4.65% from 61 days to 90 days, maturing in 91 days to 120 days. Offering an interest rate of 5.15% on FD.
6.65% interest rate on FD is maximum
similarly, bank now 5.25% on FDs maturing in 121 days to 180 days, 5.40% on 181 days to 210 days, 269 on 211 days, 5.55%, 270 days to 354 now Interest rate of 5.90% will be available. IndusInd Bank will now pay 6.15% on FDs maturing in 355 days to 364 days, 6.40% on FDs maturing in 6 months, and 6.65% on deposits for a period of 61 months and above.
What is Non-callable FD
IndusInd Bank has stated on its website that a non-callable FD is an FD from which withdrawal is not allowed before the expiry of the term of the FD. Under this, premature withdrawal is not allowed for an amount exceeding Rs 1 crore. The bank offers non-callable FDs only for non-individuals.
The bank has also said on its website that senior citizens (aged 60 years and above) will get 0.75 percent additional interest from the general public on FDs of less than Rs 2 crore. If senior citizens choose to keep deposits of value more than or equal to Rs 2 crore, then they will not get the benefit of additional interest.
