IndusInd Bank revises interest rates on these fixed deposits: Details here

The private sector lender IndusInd Bank has revised interest rates on non-callable deposits of 1 Cr to less than 5 Crs. Non-callable deposits are fixed deposits that can not be prematurely withdrawn. As per the official website of the bank, the new interest rates are effective as of September 23rd, 2022. Following the revision, 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 and above.

IndusInd Bank FD Rates

On non-callable deposits maturing in 7 days to 14 days, the bank will now offer an interest rate of 4.00% and on deposits maturing in 15 days to 30 days the bank is now promising an interest rate of 4.10%. Fixed deposits maturing in 31 days to 45 days will now fetch an interest rate of 4.35% and term deposits maturing in 46 days to 60 days will now fetch an interest rate of 4.45%. IndusInd Bank will now offer an interest rate of 4.65% on fixed deposits maturing in 61 days to 90 days and the bank will now offer an interest rate of 5.15% on term deposits maturing in 91 days to 120 days.

On term deposits maturing from 121 days to 180 days the bank will now offer an interest rate of 5.25% and on term deposits maturing from 181 days to 210 days, the bank is now promising an interest rate of 5.40%. Term deposits maturing from 211 days to 269 days will now fetch an interest rate of 5.55% and fixed deposits maturing from 270 days to 354 days will now fetch an interest rate of 5.90%. IndusInd Bank is now offering an interest rate of 6.15% on fixed deposits maturing in 355 days to 364 days and the bank will now offer an interest rate of 6.40% on non-callable FDs maturing in 1 Year to below 1 Year 6 Months. On non-callable FDs maturing in 1 Year 6 Months to 61 months, the bank will now offer a maximum interest rate of 7%. On long-term deposits of 61 months and above, the bank will now offer an interest rate of 6.65%.

IndusInd Bank FD Rates

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IndusInd Bank FD Rates (indusind.com)

IndusInd Bank has mentioned on its website that “Premature withdrawal is not allowed on Non-Callable FDs (FDs where Premature Withdrawal is Not Allowed) for value greater than equal to 1 cr. Non-Callable FDs are allowed only for Non-Individuals.”

The bank has also stated on its website that “An additional interest rate of 0.75% over and above the card rates is applicable for Term Deposits of Senior citizens (Age 60 years & above) for value below Rs. 2 cr. (Not applicable for NRO deposits). However, in case the senior citizen opts to place deposits of value greater than or equal to 2 Cr, the benefit of additional interest shall not be available.”

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