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Fixed Deposit

IndusInd bank offers fixed deposit scheme to its customer to its customer in multiple variants. The products are tailored to endow customer with maximum earning on their hard earned money.
 

Indusind Bank FD Rates 2018

FD Tenure Interest Rates (in %)
Regular Citizens Senior Citizens
7 days to 14 days 3.50 4.00
15 days to 30 days 4.00 4.50
31 days to 45 days 5.00 5.50
46 days to 60 days 5.50 6.00
61 days to 90 days 5.75 6.25
91 days to 120 days 6.00 6.50
121 days to 180 days 6.25 6.75
181 days to 210 days 6.50 7.00
211 days to 269 days 6.50 7.00
270 days or below 1 years 6.50 7.00
1 Years to below 1 Years 2 Months 6.85 7.35
1 Years 2 Months to below 2 Years 6.75 7.25
2 years to below 2 years 6 Months 6.75 7.25
2 years 6 Months to below 2 years 9 Months 6.50 7.00
2 years 9 Months to below 3 years 6.50 7.00
3 years to below 61 month 6.50 7.00
61 month and above 6.50 7.00
Indus Tax Saver Scheme (5 years) 6.50 7.00

Note: Above interest rates are offered on deposits below Rs 5 crores w.e.f. 26 Oct, 2017. Rates are subject to change without prior information.

Key Features of the IndusInd Bank Fixed Deposit

  • Supple tenures as per the requirement and planning of the customers. This brings the comfort to customer in achieving their financial objectives.
  • Multiple variants of fixed deposit such as regular FD, Tax Saver Scheme, Senior Citizens term deposit, Recurring Deposit and Young Saver Deposit
  • Option for the payment of term deposit from Monthly, Quarterly, Half yearly, annually or even at the time of maturity
  • Most competitive rate of interest
  • Flexible liquidity options with either Part closure or full closure of the fixed deposit.
  • Interest payable in either simple interest or compound Interest mode.
  • Simple interest credit can be done in saving s or current account, as per instruction given at the time of booking the FD
  • Enhanced rate of interest applicable for senior citizens
  • Tax benefit of amount up to Rs 1,50,000 , through tax saving term deposit schemes
  • Nomination facility is available for the term deposits
Sweep In/Out Deposit

Sweep In/Out Deposit scheme offered by IndusInd bank is a unique combination of earning and liquidity under one umbrella. For the ones who have surplus funds in their saving or current account and the fund is lying idle.
 

Sweep in facility allows customer to book a fixed deposit for specific term and earn higher rate of interest. Once the requirement for liquid cash rises in their saving or current account, customer may liquidate the FD and meet the requirement.

The key features of this product are:
 

  • Auto sweep in / sweep out  facility available, whenever the amount in the deposit account is lower or above the threshold
  • FD is liquidated basis last in first out to absorb minimum loss of interest
  • Interest rates are at par with the regular term deposit interest rate offered including the senior citizen rate of interest
  • Minimum tenure should be of 30 days to maximum 24 months
  • TDS rates are applicable as per Income tax regulations
  • Nominee can be appointed
  • Premature closure is also allowed under the scheme

IndusInd Bank Recurring Deposit Schemes

Recurring Deposit schemes offered by IndusInd bank are the most apt product for those who have regular, however smaller cash flow  such as small businessmen or Self employed people or even housewives. Recurring deposit ensures saving over a larger period of time with higher rate of interest as compared to the saving or current account.
 

IndusInd bank offer recurring deposits in two variants:
 

  • Flexi Recurring Deposit
  • Regular Recurring Deposit
​Flexi Recurring Deposit-
 
  • Flexi Recurring Deposit can be opened with nominal amount of Rs. 1000/- and thereafter in multiples of Rs. 100/-
  • Interest rates are at par with the regular term deposit interest rate offered including the senior citizen rate of interest
  • Minimum tenor should be of 12 months to maximum 120 months
  • TDS rates are applicable as per Income tax regulations
  • Customer may appoint any nominee in the FD
  • Premature closure is also allowed under the scheme
Regular Recurring Deposit-
 
  • Customer may open Flexi Recurring Deposit with nominal amount of Rs. 500/- and thereafter in multiples of Rs. 100/-
  • The amount is debited vide Standing Order, ECS mandate or by regular direct remittance
  • Interest rates are at par with the regular term deposit interest rate offered including the senior citizen rate of interest
  • Minimum tenor should be of 12 months to maximum 120 months
  • TDS rates are applicable as per Income tax regulations
  • Nominee can be appointed
  • Premature closure is also allowed under the scheme
  • Recurring deposit installments are accepted at a minimum of Rs 500 and thereafter in multiples of Rs 100
  • TDS as per the Income Tax regulations

Senior Citizen Scheme

IndusInd bank brings this customized depository product for the senior citizen with enhanced rate of interest on the term deposit. The scheme has been customized to suit the depository requirements of senior citizen with hassle free liquidity options.
 

  • Privileged interest rate applicable to senior citizen those who have completed 60 years of age
  • In case of joint deposits, the first name should be of the Senior citizen
  • Deposits under senior citizen should not be used as security for commercial purposes such as any loan facility
  • The minimum amount to start the Senior Citizen Scheme in IndusInd bank is Rs. 10,000/-
  • The tenure is allowed between minimum 7 days to maximum 120 months
  • TDS rates are applicable as per Income tax regulations
  • Customer may appoint any nominee in the FD
  • Premature closure is also allowed under the scheme
  • Interest Rate: Additional 0.50% than the actual rate for the general public

Young Saver Deposit

Young saver deposit accounts intend to bring the benefits of long term saving with higher interest rate in our next generation kids. The saving account is linked with a recurring deposit scheme which is opened and operated by the guardian for the minor.
 

  • Any surplus Balance beyond Rs 100/- from saving account is automatically transferred  to the recurring deposit  at the end of the month
  • Minimum balance to open Young Saver Deposit scheme is Rs. 11/-
  • Interest rates are at par with the regular term deposit interest rate offered
  • The tenure is allowed between minimum 6 months to maximum 120 months
  • TDS rates are applicable as per Income tax regulations
  • Customer may appoint any nominee in the FD
  • Premature closure is also allowed under the scheme

Tax Saver Fixed Deposit

This product has been intended for such customer who wants to avail the benefit of tax saving scheme under the section 80c of income tax act
 

  • Minimum deposit amount is Rs 100/- and thereafter in the multiples of 100
  • Maximum amount could be Rs 1, 50,000/- in a financial year
  • Minimum deposit tenure 5 years
  • Pan card mandatory to avail this scheme
  • Lock-in period of 5 years and hence no foreclosure allowed prior 5 years
  • No loan against FD is allowed under the scheme

Most Important Terms & Conditions for Term Deposit

  • Premature closure of Fixed Deposit: Customers who wants to liquidate their FD before the actual date of maturity shall have to pay the premature penalty of 1% less than the actual rate for the tenure the Fd was held in the bank. To describe with an example
     
  • Senior Citizens - Additional 0.50% interest rate on Domestic Term Deposits is applicable for Term Deposits of Senior citizens (Age 60 years & above).
     
  • No interest will be payable if the period the FD remains in force is less than 1 year.
  • For deposits with tenure of 91 days and above, interest is calculated on a quarterly basis.
  • The FD rate applicable for a monthly interest option will be a discounted rate over the standard FD Rate.

Documents required applying for IndusInd Fixed Deposit Scheme

  • Application form
  • Passport size photograph
  • Pan card
  • Proof of residence
  • Introduction letter by any IndusInd Bank existing customer