ING Vysya Bank ups deposit rates by up to 1%

ING Vysya Bank has upped its term deposit rates across various maturity buckets by up to 1 per cent.

The increase is with effect from January 14, a press release issued here today stated.

The bank has raised its rate by 1 per cent from 7.75 per cent to 8.75 per cent for deposits of a tenor of 501-729 days.

For tenures of 201-364 days and 365-499 days, the rates have been upped from 7.25 per cent to 7.75 per cent and 7.75 to 8.50 per cent, respectively, the release said.

For a tenure of 500 days, the rate has been increased by 0.50 per cent from 8.75 per cent to 9.25 per cent.

For 730-days to less than five-years and 5-years to less than 8-years, the new rate is 8.75 per cent as against the earlier 8.25 per cent and 8.50 per cent, respectively.

The bank has also raised its rate by 0.50 per cent for a tenor of 183-199-days to 7.75 per cent from the earlier 7.25 per cent, the release said.