IndusInd Bank has revised its interest rates for fixed deposits (FDs). For regular citizens, rates range from 3.50% to 7.99%, while senior citizens can earn up to 8.49% per annum. These rates apply to FDs worth less than Rs 3 crore. The bank allows individuals to break their FDs and make partial withdrawals while still earning interest. The bank also offers a unique technique of splitting larger deposits into multiple smaller ones to maintain liquidity. In addition, FDs can be used as collateral to secure loans up to 90% of the FD’s value, with interest rates slightly higher than the original FD interest rate. Senior citizens, in particular, can earn an additional 0.50% interest rate, making this an attractive option for long-term investments. Overall, the bank offers a range of features to make fixed deposits a convenient and flexible savings option.
Senior citizens rejoice! Enjoy a competitive 8.49% interest rate on your Fixed Deposits, courtesy of this bank’s latest FD interest rate update!
by newsworm | Dec 1, 2024 | Banking, IndusInd Bank