This deduction has been made by the bank at a time when the RBI meeting to review interest rates is scheduled next week.

Latest interest rate on FD of IndusInd Bank

From the bank, 3.5 percent on FDs from 7 days to 30 days, 3.75 percent on FDs from 31 days to 45 days, 4.25 percent on FDs from 46 days to 60 days, 4.60 percent on FDs from 61 days to 90 days Percentage, 4.75% on FDs from 91 days to 120 days, 5.00% on FDs from 121 days to 180 days, 5.85% on FDs from 181 days to 210 days, 6.10% on FDs from 211 days to 269 days, 6.35 percent interest is being given on FDs ranging from 270 days to 364 days.

The bank is giving 7.50 percent interest on FDs of one year to two years, 7.25 percent on FDs of two years one day to less than 61 months and 7.00 percent on FDs of 61 months and above.

Interest to senior citizens

An additional interest of 0.75 percent is being given by the bank to senior citizens on FDs of less than two crores on FDs of all periods.

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A private sector lender RBL Bank has increased its interest rates on fixed deposits up to ₹2 crore. According to the official website of the bank, the new rates will be effective from February 1, 2023. After the adjustment, the bank is now offering an interest rate of 3.50% to 6.25% for general public and 4.00% to 6.75% for senior citizens. RBL Bank is offering a maximum return of 7.80% for non-senior citizens and 8.30% for senior citizens for a deposit tenure of 453 to 725 days.

The bank currently offers an interest rate of 3.50% on deposits maturing in the next 7 to 14 days, while RBL Bank now guarantees an interest rate of 4.00% on deposits maturing in the next 15 to 45 days.

RBL Bank FD Rates

Currently, RBL Bank is offering an interest rate of 4.50% on deposits ranging from 46 days to 90 days. Deposits maturing between 91 and 180 days from now will fetch an interest rate of 4.75%, while deposits maturing between 181 and 240 days from now will fetch an interest rate of 5.50%.

The bank is currently offering an interest rate of 6.05% on deposits maturing in 241 days to 364 days and 7.00% on deposits maturing in 365 days to 452 days (less than 12 months to 15 months). For deposit tenures between 453 and 725 days, RBL Bank will now offer an interest rate of 7.80%, and for tenures between 726 days and 60 months 1 day, the bank will now guarantee an interest rate of 7.00%. Deposits maturing in 60 months 2 days to 240 months will fetch an interest rate of 6.25%, while the bank is now offering 7.00% on 60 Months Tax Saver Fixed Deposit.

RBL Bank as per the information available on its website, “The maximum aggregate amount that can be invested in Tax Saving Fixed Deposit (80C FD) under a single PAN is Rs. 150,000 and cannot be closed before the expiry of the lock-in period of 5 years. Tax Saving Fixed Deposit is applicable for Domestic / NRO (Not applicable for NRE Fixed Deposit),”

During the quarter ended December 2022, RBL Bank said it has 516 bank branches and 1,168 business correspondent branches, of which 298 are banking units.

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