Private sector lender, IndusInd Bank has declared a rise in interest rates of fixed deposits by upto 175 basis points across different maturities. The revised interest rates have come into effect from January 8.
Deposits having tenor of 7-14 days will see a 25 bps rise in interest taking it to 3%. The 15-30 days deposits have seen a 100 bps rise in rates reaching 4%.
Maturities of 1-2 years will now fetch the depositor an interest of 9% while the 181-269 days deposits will attract 7.75%, a 175 bps and 150 bps rise respectively.
Deposits with tenor 46-60 days will get interest of 5.5% now while 2-3 years deposits will attract 8.75% interest.
In case of deposits upto Rs 15 lakhs, maturities of 36-61 months will now see interest of 8.75% following a 100 bps hike.