Bangalore: ING Vysya Bank on Thursday launched a fixed deposit scheme, offering an interest rate of up to 9.5 percent per annum for one-year deposits.
The scheme -- ING FD+ -- is available for deposits up to Rs 15 lakh and customers can also do a partial withdrawal of the deposit in units of Re 1, the bank said in a statement.
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 of 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."
PTI