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RETAIL BANKING | Cesar Tordesillas, India

ING Vysya Bank offers new fixed deposit scheme

ING Vysya Bank is now offering an interest rate of up to 9.5 per cent per annum for one-year deposits.

This is available  for deposits up to Rs 15 lakh through a new fixed deposit scheme, ING FD+. Customers can also do a partial withdrawal of the deposit in units of Re 1, according to the bank.

Customers can also link the FD with their savings account and activate automatic sweep of funds from the FD, when needed, it said.

Customers can therefore withdraw cash from an ATM or write cheques to access their fixed deposit in case of a shortfall in their savings account.

Uday Sareen, Country Head - Retail ING Vysya Bank said: "You may avail the product through a simple SMS, access money from your FD from an ATM, and not get penalised for any premature withdrawals."

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