The Bangalore based ING Vysya bank, launched its brand new offering, the ING FD+, a fixed deposit scheme with an interest rate going up to 9.5% for a single year deposits.

The bank passed a statement saying that the scheme is available to customers for deposits of maximum Rs. 15,00,000. The customers can also partially withdraw the deposits in the units of Rs.1.

The scheme also allows the customers to connect the FD with their savings account and enable them to automatically sweep their funds from the FD, if they need to. That is, the customers can draw out cash from ATMs or by writing cheques in case they have a shortage in their savings.

On the matter, the Country Head of Retail ING Vysya Bank, Uday Sareen, said, "You may avail the product through a simple SMS, access money from your FD from an ATM, and not get penalized for any premature withdrawals."