IndusInd Bank Pays 7.75% Interest To Senior Citizens On 1-Year FD. Compare Other Rates Here
IndusInd Bank FD Rate: IndusInd Bank pays interest rates to the tune of 4-7.75 per cent to customers on fixed deposits up to Rs 2 crore. These fixed deposits - also known as retail term deposits - are available in 19 maturity options ranging from seven days to 10 years at the private sector lender. IndusInd Bank pays slightly higher returns to senior citizen retail depositors compared to other customers. For example, on a fixed deposit up to Rs 2 crore of one year, IndusInd Bank pays interest at the rate of 7.75 per cent to senior citizen customers and 7.25 per cent to other customers, according to its website - indusind.com. (Also Read: Compare Bank FD Rates Paid By Peers Here)
IndusInd Bank pays the following interest rates on retail fixed deposits:
| Maturity Period | Interest Rate (With Effect From October 11) | |
|---|---|---|
| Public | Senior Citizen | |
| Seven to 14 days | 4% | 4.5% |
| 15 to 30 days | 4.25% | 4.75% |
| 31 to 45 days | 5.25% | 5.75% |
| 46 to 60 days | 5.75% | 6.25% |
| 61 to 90 days | 5.80% | 6.3% |
| 91 to 120 days | 5.90% | 6.4% |
| 121 to 180 days | 5.95% | 6.45% |
| 181 to 210 days | 6.35% | 6.85% |
| 211 to 269 days | 6.40% | 6.9% |
| 270 days to below one year | 6.50% | 7% |
| One year to one year and two months | 7.25% | 7.75% |
| Above one year and two months to one year and four months | 7.25% | 7.75% |
| Above one year and four months to below two years | 7.25% | 7.75% |
| Two years to below two years and six months | 7.25% | 7.75% |
| Two years and six months to below two years and nine months | 7.25% | 7.75% |
| Two years and nine months to below three years | 7.25% | 7.75% |
| Three years to below 61 months | 7.15% | 7.65% |
| 61 months and above | 7.05% | 7.55% |
| IndusInd tax saver scheme (five years) | 7.15% | 7.65% |
| (Source: indusind.com) | ||
(IndusInd Bank FD Rate: On fixed deposits of two years, IndusInd Bank gives a 7.75 per cent return to senior citizens and 7.25 per cent to other customers, according to its website)
Investment in fixed deposits with a maturity period of five years offers income tax benefit up to Rs 1.5 lakh per financial year under Section 80C of the Income Tax Act. Interest income, however, is subject to income tax.