IndusInd Bank has revised the interest rates on fixed deposits (FDs) under Rs 3 crore. According to the bank’s official website, the new FD rates are effective from September 7, 2024.
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IndusInd Bank FD interest rates revised: Latest FD rates for general citizens
The bank offers fixed deposit interest rates between 3.50% and 7.75% for general citizens for FD tenures ranging from 7 days to 10 years. The highest interest rate of 7.75% is offered on FDs maturing between 1 year to 2 years.
For senior citizens, the bank offers a fixed deposit interest rate between 4% and 8.25% for FD tenures ranging from 7 days to 10 years. The highest interest rate of 8.25% is offered on FDs maturing between 1 year to 2 years.
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| Less than 3 Cr* (Domestic /NRO/NRE deposits) | Less than 3 Cr* (Senior Citizen) | |
| Tenure | Rate | Rate |
| 7 days to 14 days | 3.5 | 4 |
| 15 days to 30 days | 3.5 | 4 |
| 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 | 5.5 |
| 181 days to 210 days | 5.85 | 6.35 |
| 211 days to 269 days | 6.1 | 6.6 |
| 270 days to 354 days | 6.35 | 6.85 |
| 355 days to 364 days | 6.5 | 7 |
| 1 Year to below 1 Year 3 months | 7.75 | 8.25 |
| 1 Year 3 months (15 months) to below 1 Year 4 months (16 months) | 7.75 | 8.25 |
| 1 Year 4 months to below 1 Year 6 months | 7.99 | 8.49 |
| 1 Year 6 Months up to 2 Years | 7.75 | 8.25 |
| Above 2 Years to below 2 Years 6 Month | 7.25 | 7.75 |
| 2 years 6 Months (30 months) to below 2 years 7 months (31 months) | 7.25 | 7.75 |
| 2 year 7 months to 3 years 3 months | 7.25 | 7.75 |
| Above 3 years 3 months to below 61 month | 7.25 | 7.75 |
| 61 month and above | 7 | 7.5 |
| Indus Tax Saver Scheme (5 years) | 7.25 | 7.75 |
*Interest is compounded quarterly. Simple interest will be paid on maturity for deposit wherever the tenure is upto 180 days.
Method of calculation of interest, according to the website;
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Fixed Deposits –
Interest on Fixed Deposit can be paid for a period of less than a quarter (monthly interest payout) at the discounted interest rates as per regulatory directives.
High value FD
In case of High Value Deposit (> 5 crore), the interest rate offered for the particular deposit is only valid for that day for the deposit and only for the particular tenure.
Premature withdrawal
In the event of Premature withdrawal before the specified tenure, the offered interest rate applicable will be the interest rate corresponding to the amount based slab (withdrawn amount) and basis the actual run period (tenure). Additionally, penal interest of 1% shall be levied on the premature withdrawal, if applicable.
