Dear Senior citizens are you facing money problem due to low interest rate of your bank but we are giving one best bank name – IndusInd Bank where you you can get above 7.5% interest rate. Bank details are given below.
IndusInd Bank Customer service: 1860 500 5004
| w.e.f. July 13th, 2020 | Less than 2 Cr* (Senior Citizen) | ||
| Not Applicable for NRO/NRE deposits | |||
| Tenure | Rate | Annualised Yield* | |
| 7 days to 14 days | 3.75% | 3.75% | |
| 15 days to 30 days | 3.75% | 3.75% | |
| 31 days to 45 days | 4.25% | 4.25% | |
| 46 days to 60 days | 4.60% | 4.60% | |
| 61 days to 90 days | 4.80% | 4.80% | |
| 91 days to 120 days | 5.00% | 5.00% | |
| 121 days to 180 days | 5.50% | 5.50% | |
| 181 days to 210 days | 5.90% | 5.94% | |
| 211 days to 269 days | 6.10% | 6.19% | |
| 270 days or below 1 year | 6.65% | 6.76% | |
| *Interest is compounded quarterly. Annualized yield is effective annual return basis the same.
# Simple interest will be paid on maturity for deposit wherever the tenure is upto 180 days. |
|||
| Please Note |
| ***Premature withdrawal is not allowed on Non-Callable FDs (FDs where Premature Withdrawal is Not Allowed) for value greater than equal to 1 cr. Non-Callable FDs are allowed only for Non-Individuals.
Income more than tax exempted limits earned through interest on FD is tax deductible. In the absence of PAN card, TDS will be deducted at 20%. NRE deposit rates are applicable only for Tenure 1 year onwards. Above mentioned rates are not applicable for Call/Notice/Term Money market participants (both as lenders and borrowers). Kindly contact nearest branch/RM for rates and guidance |
| Senior Citizens – Additional interest rate on Domestic Term Deposits |
| *An additional interest rate of 0.50% over and above the card rates is applicable for Term Deposits of Senior citizens (Age 60 years & above) for value below Rs. 2 cr. (Not applicable for NRO/NRE deposits). However, in case the senior citizen opts to place deposits of value greater than or equal to 2 Cr, the benefit of additional interest shall not be available. |
| Method of calculation of interest: |
Interest on Fixed Deposit can be paid for a period of less than a quarter (monthly interest payout) at the discounted interest rates as per regulatory directives. |
| Recurring Deposits Rates w.e.f. July 13th, 2020 | |
| Tenure | Senior Citizen Rates p.a.(%) |
| 09 Months | 6.65% |
| 12 Months | 7.50% |
| 15 Months | 7.50% |
| 18 Months | 7.50% |
| 21 Months | 7.50% |
| 24 Months | 7.50% |
| 27 Months | 7.50% |
| 30 Months | 7.50% |
| 33 Months | 7.50% |
| 3 years to below 61 month | 7.25% |
| 61 month and above | 7.15% |
| Tenor of RD is in multiples of month and corresponding rate of FD will be applicable | |
| Minimum Value of RD is Rs 500 and thereafter in multiples of 100 | |
Sources : www.indusind.com