IndusInd Bank revises Savings Account interest rates

IndusInd Bank revises savings account interest rate to 5.5-6%.

IndusInd Bank revises interest rates on savings accounts with effect from 1 November 2011 for its resident savings account customers.

Revised Rates are as follows:

Savings Account balance up to Rs1 Lakh: 5.5% p.a.

Savings Account balance above Rs1 Lakh: 6% p.a.

IndusInd bank has also revised its base rate and BPLR upwards by 25 basis points.

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Religare Mutual Fund launches Religare Fixed Maturity Plan - Series X - Plan B (370 Days)

Religare Fixed Maturity Plan - Series X - Plan B (370 Days) closes 1st November

Religare Mutual Fund has launched Religare Fixed Maturity Plan - Series X - Plan B (370 Days), a close-ended income scheme.

The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the Scheme.

The new fund offer closes on 1 November 2011. The minimum investment amount is Rs5000.

CRISIL Short-Term Bond Fund Index is the benchmark index. Nitish Sikand is the fund manager.

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HDFC Mutual Fund launches HDFC FMP 36M October 2011 (1)

HDFC Fixed Maturity Plan new fund offer closes 9th November

HDFC Mutual Fund has launched HDFC FMP 36M October 2011 (1), a close-ended income scheme.

The investment objective of the scheme to generate income through investments in Debt / Money Market Instruments and Government Securities maturing on or before the maturity date of the respective Plan(s). The tenure of the scheme is 36 months.

The new fund offer closes on 9 November 2011. The minimum investment amount is Rs5000.

Crisil Short Term Bond Fund Index is the benchmark index. Bharat Pareek is the fund manager.

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