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 October 7, 2024. The bank has yet to revise savings account interest rates since August 2024.
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IndusInd Bank FD interest rates: 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.
IndusInd Bank FD interest rates: Latest FD rates for senior citizens
The bank provides senior citizens with fixed deposit (FD) tenures ranging from 7 days to 10 years at an interest rate between 4% and 8.25%. The highest interest rate of 7.75% is offered on FDs maturing between 1 year to 2 years.
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Latest IndusInd Bank FD interest rates
| DOMESTIC(RESIDENT) NRE/NRO deposits | Senior citizens | |
| Not applicable for NRE/NRO deposits | ||
| 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 | 7.75 | 8.25 |
| 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 |
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How does a bank calculate interest on fixed deposits?
According to the IndusInd Bank website, “FD is a safe investment that only requires a one-time deposit. You’ll earn interest on the amount you deposit for a chosen period of tenure. There are two methods for calculating interest on a fixed deposit: Simple Interest and Compound Interest. The rate of interest on a fixed deposit is not the same for all tenures. You should check the rate of interest table available on the bank’s website to invest smartly.”
How to book fixed deposit online instantly?
Step 1: Select the deposit option on your Internet banking account.
Step 2: Click on ‘Open FD’ and fill your details.
Step 3: Select the amount you wish to add to your FD from your savings account.
