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Attention IndusInd Bank customers! Bank increased interest rate on savings account, know latest rate

IndusInd Bank Hikes Interest on Saving Account: Since the decision of the Reserve Bank of India to increase the repo rate, the interest rate on FD Scheme and Savings Account is being increased continuously. Is. In the recent past, many banks have increased the interest rate of their savings account and FD schemes. Now the name of another private bank IndusInd Bank has also been included in this list.

The bank has announced to give a higher rate of interest to its customers on the IndusInd Bank Saving Account. These new rates have come into effect from 10 August 2022. The bank is offering its customers a maximum interest rate of 5.50% on the Savings Account Rate of Interest.

Interest rate available on IndusInd Bank savings account-

    • Deposits of Rs 1 lakh – 3.50%
    • Deposits of Rs 1 to 10 lakh – 3.50%
    • 10 Years to 1 Crore Deposit – 4.50%
    • Deposits from 1 to 100 crores – 5.50%

RBI hikes repo rate for the third time in a row
In the review meeting of the Reserve Bank (RBI) held between August 3 and 5, it was decided that the RBI will increase the repo rate by 0.50%. Earlier in the month of May and June also, the central bank had decided to increase the repo rate. With this, the repo rate at present is 5.40%. This decision has been taken to control the rising inflation.

With this, now there has been an increase in the EMI of people’s loans. Since the rate decision of increasing the repo rate, many banks have continuously increased the interest rates of their FD and savings accounts. Yesterday Yes Bank and Kotak Mahindra Bank increased their FD interest from August 10. Along with this, Bandhan Bank has also decided to increase the interest rates of its savings account.

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