Before the MPC meeting, IndusInd Bank has also changed the interest rate of FD and savings account. The new rates have come into effect from August 5.
Bank FD Rates: Fixed Deposit is considered one of the better options for investment. The MPC meeting of RBI is going to be held on 8th August. During this, a big decision can come regarding the repo rate. As a result of changes in the repo rate, loans become costlier and banks increase the interest on fixed deposits.
This bank changed the interest rates of FD
Before the MPC meeting, IndusInd Bank has also changed the interest rate of FD and savings account. The new rates have come into effect from today i.e. from 5th August. Interest rates have been revised for all schemes below Rs 2 crore. The bank has cut interest rates by 25 basis points.
How much are the new rates?
The bank is offering interest ranging from 7.25 per cent to 7.50 per cent on fixed deposits ranging from 1 year, 7 months to 2 years. Senior citizens are being given 0.75% more interest. Common citizens are getting 3.5% interest on fixed deposits of 7 days to 30 days. 4% on FD of 30 to 45 days, 4.5% on FD of 46 to 60 days, 4.6% on HD of 61 to 90 days.
7.25% interest is being received on these schemes
7.25% interest on Indus Tax Saver Scheme is being offered by the bank. Same interest is also available on FDs from 2 years 9 months to 3 years 3 months and from 2 years to 2 years 1 month.
Interest rate for other term
7.5 percent interest is being received on FDs ranging from one year, 7 months to 2 years. 6.1% interest is being given on FDs of 211 days to 269 days and 6.35% interest is being given on FDs of 354 days to 364 days.
