ING Vysya Bank on Tuesday said it has hiked its
short-term deposit rates by 0.25 per cent to 10 per cent to promote its Active Deposit Scheme.
"The bank will now offer 10 per cent special rate to deposit holders (for 366 days) as against 9.75 per cent earlier, to promote its successful Active Deposit Scheme," it said in press release.
The customers will get higher returns under the Active Deposit Scheme, linked to their normal savings or current account, it said.
ING Active Deposit scheme is useful for customers who have surplus funds, on which they would like to earn higher returns but at the same time need the security of instant liquidity, it said.
The scheme will ensure liquidity to customers through its instant withdrawal facility and the facility to break the deposits into exact amount required as against traditional term deposits, while the remaining amount continues to earn the original rate of interest, it said.
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