New Delhi: Indian Bank, a public sector bank, launched a new retail term deposit on Monday offering a slightly higher interest rate to women depositors. This special deposit named “IND SUPER 400 DAYS” is open for investment from March 6, 2023, and offers a slightly higher interest rate to women investors.
The Chennai-based bank also raised interest rates recently on fixed deposits of less than Rs2 crore on March 4. The bank raised its interest rate by 20 basis points on a select tenor, and retail customers can now earn up to 6.70 per cent on their deposits.
According to the Indian Bank website, “Special Retail Term Deposit Product “IND SUPER 400 DAYS” has been launched w.e.f 06.03.2023 offering higher rate of interest for investment starting from Rs.10,000 to less than 2 Crore for 400 days in the form of FD/MMD with callable options.” This scheme is available for women investors and also open to others. Under this scheme, the bank offers 0.05 per cent higher interest rate to women investors. Note that the scheme is valid till April 30, 2023.
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