IndusInd Bank Revises Interest Rates On FDs of Less Than Rs 2 Cr: Check New Rates

On Friday, the private sector lender IndusInd Bank revised interest rates on fixed deposits (FDs) of less than Rs 2 Cr. Following the revision, the bank is now promising a maximum return of 7.50% on 1 to 2 years tenure. The domestic /NRO/ NRE/senior citizen fixed deposit rates are effective as of 1st December.

IndusInd Bank FD Rates

The bank is giving an interest rate of 3.50% on fixed deposits maturing in 7 to 30 days, and IndusInd Bank is offering an interest rate of 3.75% on those maturing in 31 to 45 days. For deposits made between 46 and 60 days, IndusInd Bank is paying an interest rate of 4.25%; for term deposits made between 61 and 90 days, the rate is 4.60%. The interest rate on deposits maturing in 91 to 120 days will now be 4.75%, while the interest rate on deposits maturing in 121 to 180 days will now be 5%.

The bank is paying 5.85% interest on domestic term deposits that mature in 181-210 days, and IndusInd Bank is giving 6.10% interest on deposits maturing in 211-269 days. For deposits made between 270 and 364 days, IndusInd Bank is giving an interest rate of 6.35%; for term deposits made between one and two years, the rate is 7.50%.

IndusInd Bank fixed deposit options that mature after two years and up to sixty-six months will now yield an interest rate of 7.25%, while those that mature after sixty-six months will yield an interest rate of 7%. The interest rate that the general public will get on the five-year Indus Tax Saver Scheme is 7.25%.

Tenure	Less than 2 Cr* (Domestic /NRO/NRE deposits)	Less than 2 Cr* (Senior Citizen) Not applicable for NRE/NRO deposits
7 days to 14 days	3.5	4.25
15 days to 30 days	3.5	4.25
31 days to 45 days	3.75	4.5
46 days to 60 days	4.25	5
61 days to 90 days	4.6	5.35
91 days to 120 days	4.75	5.5
121 days to 180 days	5	5.75
181 days to 210 days	5.85	6.6
211 days to 269 days	6.1	6.85
270 days to 354 days	6.35	7.1
355 days to 364 days	6.35	7.1
1 Year to below 1 Year 6 Months	7.5	8.25
1 Year 6 Months to below 1 Year 7 Months	7.5	8.25
1 Year 7 months up to 2 Years	7.5	8.25
Above 2 Years up to 2 Years 1 Month	7.25	8
Above 2 Years 1 Month to below 2 years 6 Months	7.25	8
2 years 6 Months to below 2 years 9 Months	7.25	8
2 years 9 Months to 3 years 3 months	7.25	8
Above 3 years 3 months to below 61 month	7.25	8
61 month and above	7	7.75
Indus Tax Saver Scheme (5 years)	7.25	8
Source: Bank Website

An additional 0.75% over card rates apply to senior citizens of 60 years of age and up on term deposits for amounts under Rs 2 Cr (Callable).

"In the event of Premature withdrawal before the specified tenure, the offered interest rate applicable will be the interest rate corresponding to the amount based slab (withdrawn amount) and basis the actual run period (tenure). Additionally, penal interest of 1% shall be levied on the premature withdrawal, if applicable," mentioned IndusInd Bank on its website.