FD (Fixed Deposit) rates have been increased in IndusInd Bank. After this change, general citizens will get an annual interest of 3.50% to 7.99% on FD in the bank.
At the same time, the bank is offering senior citizens an annual interest of 4% to 8.49%. The interest rates on FDs of less than 3 crores have been changed, and they came into effect on November 26.
It is important to keep these 4 things in mind before investing money in FD
Do not invest all the money in a single FD
If you are planning to invest Rs 10 lakh in FDs in one bank, then instead invest in 9 FDs of Rs 1 lakh and 2 FDs of Rs 50,000 in more than one bank. This way, if you need money in between, you can arrange for money by breaking the FDs as per your need. Your remaining FDs will remain safe.
Withdrawal of Interest
Earlier the bank had the option to withdraw interest on a quarterly and yearly basis, now in some banks you can also withdraw interest on a monthly basis. You can choose it according to your needs.
Also, check the interest rate of loans available on the FD
You can also take a loan on your FD. Under this, you can take a loan up to 90% of the value of the FD. Suppose the value of your FD is Rs 1.5 lakh, then you can get a loan of Rs 1 lakh 35 thousand. If you take a loan on fixed deposit, then you will have to pay 1-2% more interest than the interest received on a fixed deposit. For example, suppose you are getting 6% interest on your FD, then you can get a loan at an interest rate of 7 to 8%.
Senior citizens get more interest
Most banks provide senior citizens with up to 0.50% more interest on fixed deposits. If a senior citizen lives in your house, you can earn more profit by opening a fixed deposit in their name.
