IndusInd Bank has revised the interest rates on fixed deposits (FDs) under ₹2 crore, effective May 27 with rates going up to 8.25%.
What Happened: The new rates range from 3.50% to 7.99% for general citizens with FD tenures from 7 days to 10 years. The highest interest rate of 7.99% is offered on FDs maturing between 15 to 16 months and 30 to 31 months.
For FDs maturing between 7 to 30 days, the interest rate is 3.50% — the lowest rate on the chart. Deposits maturing between 31 to 45 days now offer 3.75%, while those maturing between 46 to 120 days offer 4.75%. For tenures between 121 to 180 days, the rate is 5%.
Deposits maturing between 181 to 210 days will fetch an interest rate of 5.85%, and those between 211 to 269 days will earn 6.10%. FDs maturing between 270 to 354 days offer 6.35%, while those between 355 to 364 days provide 6.50%. For maturities of 12 months to less than 15 months, the rate is 7.75%.
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For FDs maturing more than two years and less than 61 months, the interest rate is 7.25%, and for those maturing in over 61 months, it is 7%. The Indus Tax Saver Scheme of five years also offers 7.25% for regular citizens.
Senior citizens receive an additional 0.50% over standard rates for deposits below ₹2 crore, with interest rates ranging from 4% to 8.25% for tenures between 7 days to 10 years.
Here’s a complete breakdown of FD rates for both general and senior citizens:
| Tenure | General Citizens (%) | Senior Citizens (%) |
|---|---|---|
| 7 days to 14 days | 3.50 | 4.00 |
| 15 days to 30 days | 3.50 | 4.00 |
| 31 days to 45 days | 3.75 | 4.25 |
| 46 days to 60 days | 4.75 | 5.25 |
| 61 days to 90 days | 4.75 | 5.25 |
| 91 days to 120 days | 4.75 | 5.25 |
| 121 days to 180 days | 5.00 | 5.50 |
| 181 days to 210 days | 5.85 | 6.35 |
| 211 days to 269 days | 6.10 | 6.60 |
| 270 days to 354 days | 6.35 | 6.85 |
| 355 days to 364 days | 6.50 | 7.00 |
| 1 year to below 1 year 3 months | 7.75 | 8.25 |
| 15 months to below 1 year 4 months | 7.99 | 8.25 |
| 1 year 4 months to below 1 year 6 months | 7.75 | 8.25 |
| 1 year 6 months up to 2 years | 7.75 | 8.25 |
| More than 2 years to below 30 months | 7.25 | 7.75 |
| 30 months to below 2 years 7 months | 7.99 | 8.25 |
| 2 years 7 months to 3 years 3 months | 7.25 | 7.75 |
| 3 years 3 months to below 61 months | 7.25 | 7.75 |
| 61 months and above | 7.00 | 7.50 |
| Indus Tax Saver Scheme (5 years) | 7.25 | 7.75 |
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