This private bank is giving bumper returns on FD, know what is the interest rate and for how many days the investment will have to be made

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FD Interest Rates: The Reserve Bank of India (RBI) had announced an increase in the repo rate by 0.25 percent in the past. After increasing the repo rate, apart from increasing the interest rate on loans, the interest rates on bank deposits have also started increasing. Meanwhile, IndusInd Bank () has also announced an increase in the interest rates on fixed deposits of less than two crore rupees.

Up to 8.25% return will be available on FD

IndusInd Bank, one of the private banks of the country, is currently offering interest ranging from 3.5% to 7% to the common people. Whereas, senior citizens will get 4 to 7.50 percent interest on Fixed Deposit ie FD. The bank is offering this interest rate on fixed deposits ranging from seven days to 61 months. At the same time, IndusInd Bank is offering interest at the rate of 7.50 per cent to the common people and 8.25 per cent to senior citizens on FDs of 2 to 3 years and three months.

Know from when the new interest rates are effective

According to the official website of IndusInd Bank, the new interest rates have come into effect from February 16, 2023. According to the bank, FDs maturing in 7 to 30 days will get interest at the rate of 3.50 per cent. At the same time, interest will be given at the rate of 4 percent on FDs maturing in the next 31 to 45 days. Whereas, the bank is offering 7 per cent interest on FDs of one year to one year six months and 7.25 per cent interest on FDs of more than one year six months to less than 2 years. The bank is now offering a maximum interest rate of 7.50 per cent on FDs with a tenure of less than 2 to 3 years. Offering an interest rate of 7.25 per cent on deposits maturing in more than three years but less than 61 months. Deposits maturing in 61 months and above will get interest at the rate of 7.25 per cent.

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