IndusInd Bank hikes deposit rate by 25 bps

Private sector lender IndusInd Bank has increased its fixed deposit rates by 25 basis points on select maturities effective January 8.

The interest rate on fixed deposits with a maturity period of 1-2 years has been increased by 25 basis points to 9.0 per cent, IndusInd Bank said in a statement.

Besides, 400 days fixed deposit would now attract 9.5 per cent return from the existing 9.25 per cent.

At the same time, 900 days term deposit has been hiked from 9.25 per cent to 9.00 per cent.