IndusInd Bank’s Latest Fixed Deposit Interest Rates
IndusInd Bank, a prominent player in the Indian banking sector, has recently taken a significant step to benefit its customers by revising its Fixed Deposit (FD) interest rates. This change, effective from September 7, introduces competitive rates that cater to both general customers and senior citizens. With these updated offerings, the bank aims to enhance the appeal of its fixed deposit products to current and potential clients.
Overview of Revised FD Rates
The new interest rates primarily target Fixed Deposits with terms between 1 year 4 months to 1 year 6 months, where the bank is now offering an attractive interest rate of 7.99% for general customers and 8.49% for senior citizens. This adjustment signifies IndusInd Bank’s commitment to providing valuable financial products to its diverse customer base.
Interest Rates Breakdown
IndusInd Bank has modified the rates for various FD tenures for amounts less than Rs 3 crore. Below is a detailed table showcasing the interest rates applicable to different deposit tenures:
| Tenure | Interest Rate for General Customers | Interest Rate for Senior Citizens |
|---|---|---|
| 7 to 30 days | 3.50% | N/A |
| 31 to 45 days | 3.75% | N/A |
| 46 to 60 days | 4.75% | N/A |
| 61 to 90 days | 4.75% | N/A |
| 91 to 120 days | 4.75% | N/A |
| 121 to 180 days | 5.00% | N/A |
| 181 to 210 days | 5.85% | N/A |
| 211 to 269 days | 6.10% | N/A |
| 270 to 354 days | 6.35% | N/A |
| 355 to 364 days | 6.50% | N/A |
| 1 year to 1 year 3 months | 7.75% | N/A |
| 1 year 3 months to 1 year 4 months | 7.75% | N/A |
| 1 year 4 months to 1 year 6 months | 7.99% | 8.49% |
| 1 year 6 months to 2 years | 7.75% | N/A |
| 2 years to 2 years 6 months | 7.25% | N/A |
| 2 years 6 months to 2 years 7 months | 7.25% | N/A |
| 2 years 7 months to 3 years 3 months | 7.25% | N/A |
| 3 years 3 months to 5 years | 7.25% | N/A |
| 5 years and above | 7.00% | N/A |
| Tax saving FDs of 5 years | 7.25% | N/A |
Key Takeaways
IndusInd Bank’s move to increase interest rates reflects its strategic approach to attract more customers towards fixed deposits. The revised rates not only provide a competitive edge but also demonstrate the bank’s dedication to supporting its customersโ financial growth, especially for senior citizens who receive enhanced rates. For anyone looking to invest in FDs, these new offerings from IndusInd Bank could be an excellent opportunity to secure higher returns.
