Wednesday, November 30, 2022

IndusInd Bank FD Rates Hike Of 1 Crore To 5 Crore Non Callable Deposits…

IndusInd Bank FD Rates Hike: The country’s largest private sector bank IndusInd Bank has decided to increase the interest rates of its fixed deposits. The bank has increased its non-callable fixed deposit rates. The bank has decided to increase its interest rates on its deposits of Rs 1 to 5 crore. These new rates have come into effect from 23 September 2022.

It is worth noting that the bank is offering an interest rate of 4.00% to 6.65% on non-callable 7 days to 61 months FD of 1 to 5 crores. If you are also planning to invest in this FD scheme of the bank, then we are also giving you information about the interest rate available on FD by the bank-

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Interest rate available on non-callable FD of 1 to 5 crores-

  • 7-14 day FD-4.00%
  • 15-30 days FD-4.10%
  • FD of 31-45 days – 4.35%
  • FD of 46-60 days – 4.45%
  • FD of 61-90 days -4.65%
  • 91-120 day FD-5.15%
  • FD of 121-180 days – 5.25%
  • 181-210 Days FD-5.40%
  • 211-269 day FD-5.55%
  • 270-354 day FD-5.90%
  • 355-364 day FD-6.15%
  • 1 to 1 year 6 month FD-6.40%
  • 1 year 6 months to 1 year 7 months FD – 7.00%
  • FD of 1 year 7 months to 2 years – 7.00%
  • FDs from 1 year 7 months to 2 years – 7.00%
  • FD of 2-3 years – 7.00%
  • FD-7.00% from 3 years to 61 months
  • FDs above 61 months – 6.65%

What is non-callable FD?
Banks keep launching different types of FD schemes for the convenience of their investors. One of them is the non-callable FD scheme. This FD scheme is a deposit in which investors do not get the facility of premature withdrawal once they have invested the money. You can withdraw your money only on maturity. In such a situation, if you are looking for a safe investment option for a long time, then non-callable FD is a good investment option for you.

RBI is continuously increasing the repo rate-
At this time, inflation has broken the back of common people all over the world including India. Due to this, the Reserve Banks of the world are increasing their interest rates. The Reserve Bank of India is continuously increasing the repo rate. The bank has increased the repo rate from 4.00% to 5.40% in the month of May, June and August overall. Due to this, FD rates, savings accounts and RD rates are increasing continuously. In the recent times, many banks in the country like Bank of Baroda, Axis Bank, Indian Overseas Bank etc. have increased their FD rates.

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