ING Vysya Bank revises interest rates on deposits

Special offer for Active Deposits pegged at 10% for 366 days; new rates best among peer group; with immediate effect

Bengaluru, Karnataka, March 20, 2012 /India PRwire/ -- ING Vysya Bank has revised its interest rates on deposits. The bank will now offer 10% special rate to deposit holders (for 366 days) as against 9.75% earlier, to promote its successful Active Deposit scheme.

ING Vysya Bank continues to innovate new products to make banking easier for their customers with ING Active Deposits offering several industry-first features to customers.

ING Vysya Bank customers will earn higher returns by choosing Active Deposits, linked to their normal savings or current account. The product also ensures liquidity for the customer through its instant withdrawal facility with all withdrawal options made available, akin to a normal savings account holder. The Active Deposit holder also has the facility to break the deposits into the exact amount required as against traditional term deposits, while the remaining amount continues to earn the original rate of interest.

ING Active Deposits benefits customers who have surplus funds, on which they would like to earn higher returns but need the security of instant liquidity.

Benefits of ING Active Deposits

  • Any current account or savings account customer can convert deposits to "Active"
  • Actives deposits can be broken into exact amount of requirement for the customer
  • Customers can allocate more of his surplus funds to active deposits and thereby earn higher returns on the funds
  • Customers can choose to activate his term deposits under "Active" while leaving some as regular term deposits
  • Integrated with ING savings account
  • Active Deposit funds can be withdrawn from ATM and also through cheques
  • Protects customer from cheque bouncing citing insufficient funds as Active Deposits will honour inbound cheques too (to the extent applicable)

Notes to Editor

About ING Vysya Bank

ING Vysya Bank Ltd is a premier private sector bank with retail, private and wholesale banking platforms that serve over two million customers. With 80 years of history in India and leveraging ING's global financial expertise, the bank has around 7,000 employees, 526 branches and extension counters, 28 satellite offices and 427 ATMs to offer clients and customers an increasingly broad range of innovative and established products and services. For more information, visit www.ingvysyabank.com

ING is a global financial institution of Dutch origin, offering banking, investments, life insurance and retirement services to meet the needs of a broad customer base. With more than 97,000 employees*, we serve over 75 million* private, corporate and institutional customers in over 40 countries in Europe, North America and Latin America, Asia and Australia.

* Numbers will be adjusted when the divestments of ING Direct USA is closed

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