ING Vysya's new deposit scheme

Private lender ING Vysya Bank has hiked interest rate on 120-day deposits by 25 basis points to 7.75 per cent in a bid to attract more funds. The bank has created a new slab of 120 days for fixed deposits. This slab was earlier clubbed with 91-364 days, drawing 7.50 per cent interest rate. The new fixed deposit scheme has been effected from December 15.