ING Vysya Bank has upped its term deposit rates across various maturity buckets by up to 1%.
The increase is with effect from January 14, a press release issued on Monday stated.
The bank has raised its rate by 1% from 7.75% to 8.75% for deposits of a tenor of 501-729 days.
For tenures of 201-364 days and 365-499 days, the rates have been upped from 7.25% to 7.75% and 7.75 to 8.50%, respectively, the release said.
For a tenure of 500 days, the rate has been increased by 0.50% from 8.75% to 9.25%.
For 730-days to less than five-years and 5-years to less than 8-years, the new rate is 8.75% as against the earlier 8.25% and 8.50%, respectively.
The bank has also raised its rate by 0.50% for a tenor of 183-199-days to 7.75% from the earlier 7.25%, the release said.