Induslnd Bank Reduces Interest On Fixed Deposit By 0.25%

New Delhi: Induslnd bank announced on Thursday to decrease the interest rates on fixed deposits (FDs) by 0.25%. The step is considered to impact the depositors directly as they will receive less interest on their deposits. The bank’s announcement came at the same time when RBI kept the repo rate unchanged for the third time consecutively due to decreasing inflation.

RBI had increased the repo rate to 6.5% last year in order to rein the running inflation and spiking prices of general items. Banks followed RBI and increased the interest rates on FDs.

1. FD – 7 Days To 30 Days – 3.50%
2. FD – 31 Days and 45 Days – 3.75%
3. FD – 46 Days to 60 Days – 4.25%
4. FD – 61 Days to 90 Days – 4.60 %
5. FD – 91 Days to 120 Days – 4.75%
6. FD – 121 Days to 180 Days – 5%
7. FD – 181 Days to 210 Days – 5.85%
8. FD – 211 Days to 269 Days – 6.1%
9. FD – 270 Days to 354 Days – 6.35%
10. FD – 355 Days to 364 Days – 6.35%