IndusInd Bank has revised the interest rates on fixed deposits for amounts under Rs 2 crore. The new rates are effective from October 1, 2023, according to the IndusInd Bank official website.
After revision, the bank offers interest rate between 3.5 percent and 7.85 percent to regular citizens and 4.25 percent to 8.25 percent to senior citizens.
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The bank now offers a 3.50 percent interest rate on FDs with maturities ranging from 7 to 30 days. The bank offers a 3.75% interest rate on FDs maturing between 31 and 45 days. The bank offers a 4.25 percent interest rate on FDs maturing between 46 and 60 days. The bank offers a 4.6 percent interest rate on fixed deposits maturing in 61 and 90 days.For FDs maturing between 91 and 120 days, IndusInd Bank offers a 4.75 percent interest rate. The bank offers a 5% interest rate on FDs maturing between 121 and 180 days. Following the change, the bank now offers a 5.85 percent interest rate on FDs maturing between 181 and 210 days.
For FDs maturing between 211 and 269 days, the bank offers a 6.10 percent interest rate. For deposits maturing between 270 and 364 days, IndusInd Bank gives a 6.35 percent interest rate.
The bank currently offers a 7.50 percent interest rate on fixed deposits maturing between one and two years. The bank offers highest interest rate of 7.85 percent on tenure ranging from 1 year 6 months to below 1 year 7 months.
Also read: Loan interest rates for October 2023: ICICI Bank, PNB, Yes Bank revise these loan interest rates
The bank offers a 7.25 percent interest rate on FDs maturing in more than two years, three years, and three months. IndusInd Bank offers a 7.25 percent interest rate on FDs maturing in three years and three months or less than 61 months. The bank will offer a 7% interest rate on FDs maturing in more than 61 months. On Indus Tax Saver Scheme (5 years), the bank offers 7.25 percent.
| Tenure | Less than 2 Crore | Less than 2 Cr* (Senior Citizen) |
| 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 | 7.85 | 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
Senior Citizens – Additional interest rate on Domestic Term Deposits
According to the IndusInd website, “* Please note the additional 0.75% over and above card rates applicable for Term Deposits of Senior Citizens (age 60 years and above) ( for Special tenor of 1 Yr 6 months to 1 Yr 7 months the additional interest if 0.40% ) for value below Rs 2 Cr (Callable) (Not applicable for NRO/NRE Deposits).”
