Operational since 1994, IndusInd Bank has emerged as one of the leading private sector banks in India. It is serving 37 million plus customers with more than 2,631 branches and 2,903 ATMs established across the country. It also has several representative offices in the United Kingdom and UAE.
IndusInd Bank offers different types of FD schemes that are highly popular among NRIs for generating stable and risk-free returns, along with the benefits of quarterly compounding power. Here in this article, we have discussed more about IndusInd Bank NRE FD rates, NRO FD rates, features, benefits and more.
What is IndusInd Bank NRI Fixed Deposit?
NRI fixed deposit is one of the fantastic ways of investing money for risk-averse investors staying abroad. Such FD schemes are easily repatriable, while some are exempt from taxation in India.
Moreover, these NRI FD schemes allow account holders to make investments in foreign currencies, while protecting their deposits from the foreign exchange risk resulting from currency fluctuations.
There are various kinds of NRI fixed deposit schemes offered by the bank, which include NRE fixed deposits, NRO fixed deposits and FCNR fixed deposits. IndusInd NRE FD rates generally range from 3.50% to 7.85% per annum from a tenure of 7 days to 10 years.
IndusInd Bank NRI FD Rates – 2024
Let us discuss the different types of NRI fixed deposit schemes of IndusInd Bank and their varying interest rates.
IndusInd Bank NRE FD Rates under ₹2 Crores
Non-resident external or NRE fixed deposits are a perfect investment choice for non-resident individuals who generates income in foreign currencies and wish to get it converted into Indian currency. Under this scheme, the entire FD amount (including principal and interest income) is repatriable. However, only the interest income is exempt from taxation.
Here are the latest IndusInd Bank NRE fixed deposit rates (for callable deposits below ₹2 crore).
| Tenure | Interest Rate (%) |
| 1 year to below 1 year 6 months | 7.50 |
| 1 year 6 months to below 1 year 7 months | 7.85 |
| 1 year 7 months up to 2 years | 7.50 |
| Above 2 years up to 2 years 1 month | 7.25 |
| Above 2 years 1 month to below 2 years 6 months | 7.25 |
| 2 years 6 months to below 2 years 9 months | 7.25 |
| 2 years 9 Months to 3 years 3 months | 7.25 |
| Above 3 years 3 months to below 61 months | 7.25 |
| 61 months and above | 7.00 |
| Indus Tax Saver Scheme (5 years) | 7.25 |
IndusInd Bank NRE FD Rates above ₹2 Crores
Here are the latest IndusInd Bank NRE fixed deposit rates applicable for callable deposits above ₹2 crores.
| Tenure | Interest Rate (%) |
| 1 year to below 1 Year 6 months | 7.35 |
| 1 year 6 months to below 1 year 7 months | 7.20 |
| 1 year 7 months up to 2 years | 7.20 |
| Above 2 years up to 2 years 1 month | 7.20 |
| Above 2 years 1 month to below 2 years 6 months | 7.20 |
| 2 years 6 months to below 2 years 9 months | 7.20 |
| 2 years 9 months up to 3 years 3 months | 7.20 |
| Above 3 years 3 months to below 61 months | 7.10 |
| 61 months and above | 7.00 |
| Indus Tax Saver Scheme (5 years) | NA |
IndusInd Bank NRO Fixed Deposit Rates under ₹2 Crores
Non-resident Ordinary or NRO fixed deposit is an ideal investment option for foreign investors generating income in Indian currency. Sources of this income can be rent, dividends from stocks and such. Under this FD, the deposit amount is repatriable up to a deposit amounting to ₹1 million USD or of equivalent value.
Listed below are the latest NRO FD rates offered by IndusInd Bank for callable deposits below ₹2 crores.
| Tenure | Interest Rate (%) |
| 7 days to 14 days | 3.50 |
| 15 days to 30 days | 3.50 |
| 31 days to 45 days | 3.75 |
| 46 days to 60 days | 4.25 |
| 61 days to 90 days | 4.60 |
| 91 days to 120 days | 4.75 |
| 121 days to 180 days | 5.00 |
| 181 days to 210 days | 5.85 |
| 211 days to 269 days | 6.10 |
| 270 days to 354 days | 6.35 |
| 355 days to 364 days | 6.35 |
| 1 year to below 1 year 6 months | 7.50 |
| 1 year 6 months to below 1 year 7 months | 7.85 |
| 1 Year 7 months up to 2 years | 7.50 |
| Above 2 years up to 2 Years 1 month | 7.25 |
| Above 2 Years 1 month to below 2 years 6 months | 7.25 |
| 2 years 6 Months to below 2 years 9 Months | 7.25 |
| 2 years 9 months to 3 years 3 months | 7.25 |
| Above 3 years 3 months to below 61 months | 7.25 |
| 61 months and above | 7.00 |
| Indus Tax Saver Scheme (5 years) | 7.25 |
IndusInd Bank NRO Fixed Deposit Rates above ₹2 Crores
Listed below are the latest NRO FD rates offered by IndusInd Bank for callable deposits above ₹2 crores.
| Tenure | Interest Rate (%) |
| 7 days to 14 days | 4.90 |
| 15 days to 30 days | 5.00 |
| 31 days to 45 days | 5.50 |
| 46 days to 60 days | 5.75 |
| 61 days to 90 days | 6.25 |
| 91 days to 120 days | 6.75 |
| 121 days to 180 days | 6.90 |
| 181 days to 210 days | 7.00 |
| 211 days to 269 days | 7.00 |
| 270 days or 354 days | 7.10 |
| 355 days or 364 days | 7.10 |
| 1 year to below 1 Year 6 months | 7.35 |
| 1 Year 6 months to below 1 year 7 months | 7.20 |
| 1 Year 7 months up to 2 years | 7.20 |
| Above 2 Years up to 2 years 1 Month | 7.20 |
| Above 2 years 1 month to below 2 years 6 months | 7.20 |
| 2 years 6 months to below 2 years 9 months | 7.20 |
| 2 years 9 months up to 3 years 3 months | 7.20 |
| Above 3 years 3 months to below 61 months | 7.10 |
| 61 months and above | 7.00 |
| Indus Tax Saver Scheme (5 years) | NA |
IndusInd Bank FCNR Fixed Deposit Rates
A Foreign Currency Non-Resident Account or FCNR deposit is beneficial for individuals who desire to maintain an FD in India to save their foreign income while earning high-yielding interest on them.
Here are the latest IndusInd Bank FCNR rates:
| Period / Currency | USD < 1 Mio | USD 1 Mio < 10 Mio | USD 10 Mio < 25 Mio | USD 25 Mio & Above | GBP | EUR | JPY | CAD | AUD |
| 1yr < 2 yrs | 5.95 | 5.95 | 5.95 | 5.95 | 5.65 | 3.75 | – | 5.00 | 4.40 |
| 2 yrs< 3 yrs | 5.10 | 5.10 | 5.10 | 5.10 | 5.00 | 3.20 | 2.40 | 4.60 | 4.30 |
| 3 yrs< 4yrs | 4.85 | 4.85 | 4.85 | 4.85 | 4.80 | 2.55 | – | 4.30 | 4.50 |
| 4 yrs< 5 yrs | 4.75 | 4.75 | 4.75 | 4.75 | 4.50 | 2.00 | – | 4.10 | 4.50 |
| 5 yrs | 4.75 | 4.75 | 4.75 | 4.75 | 4.50 | 2.00 | 2.30 | 4.00 | 4.50 |
IndusInd Bank RFC Fixed Deposit Rates
A Resident Foreign Currency or RFC deposit account is suitable for NRIs who have returned to India with the intention of permanent residency for at least 2 to 3 years.
Considering that such individuals might have certain investments like bank balances, stocks, and mutual funds to bring back to India, the bank offers RFC accounts to park their funds while enabling them to earn high FD rates.
Here are the latest RFC FD rates offered by IndusInd Bank.
| Period / Currency | USD < 1 Mio | USD 1 Mio < 10 Mio | USD 10 Mio < 25 Mio | USD 25 Mio & Above | GBP | EUR | JPY | CAD | AUD |
| 1yr < 2 yrs | 5.95 | 5.95 | 5.95 | 5.95 | 5.65 | 3.75 | – | 5.00 | 4.40 |
| 2 yrs< 3 yrs | 5.10 | 5.10 | 5.10 | 5.10 | 5.00 | 3.20 | 2.40 | 4.60 | 4.30 |
| 3 yrs< 4yrs | 4.85 | 4.85 | 4.85 | 4.85 | 4.80 | 2.55 | – | 4.30 | 4.50 |
| 4 yrs< 5 yrs | 4.75 | 4.75 | 4.75 | 4.75 | 4.50 | 2.00 | – | 4.10 | 4.50 |
| 5 yrs | 4.75 | 4.75 | 4.75 | 4.75 | 4.50 | 2.00 | 2.30 | 4.00 | 4.50 |
Features and Benefits of IndusInd Bank NRI FD
Here are some of the features and benefits of IndusInd Bank NRI fixed deposits. Let us understand the features based on each NRI FD type.
1. NRE Fixed Deposit
- The tenure of the deposit ranges from a minimum of 1 year to a maximum duration of 10 years.
- The interest income earned is exempt from tax in India.
- Both the principal and the interest component are fully and freely repatriable.
- Individuals can maintain their FD investment only in Indian currency.
2. NRO Fixed Deposit
- Repatriation of funds is allowed by RBI up to a maximum of 1 million USD or equivalent value only for bona fide reasons.
- The tenure of the deposit ranges from a minimum duration of 7 days to a maximum of 10 years.
- The interest on the deposit is compounded every quarter.
- Under NRO deposits, the interest income earned is subject to 30% tax plus applicable surcharge and cess.
3. FCNR Deposit
- The interest earned on an FCNR deposit is exempt from tax in India.
- The interest on an FCNR deposit is compounded every 180 days.
- You can maintain your FCNR deposits in 6 currencies which include USD, EUR, GBP, JPY, AUD and CAD.
- The tenure of this deposit ranges from 1 year to a maximum of 5 years.
4. RFC Deposit
- The bank allows NRIs to maintain their RFC deposits in 3 currencies, including USD, EUR and GBP.
- The tenure of the deposit ranges from 1 year to 5 years.
Conclusion
To conclude, non-resident individuals get to choose from a wide range of IndusInd Bank NRE FD rates and schemes based on their financial planning and requirements. Some of the FD schemes offer features like repatriation of both the principal or interest, tax-free interest income and stable returns along with compounding benefits. Before investing your hard-earned money, verify the interest rates and benefits provided by your desired FD scheme.
FAQs
No, IndusInd Bank does not provide additional interest rate benefits to senior citizens under NRI FD schemes. Such interest rates are only applicable to domestic deposits.
In case of premature withdrawal of FCNR deposits, IndusInd Bank charges a penalty of 0.25% on the contracted interest rate.
No, you cannot maintain your RFC FD made with IndusInd Bank in JPY currency.
The minimum tenure of an NRO deposit is 7 days, while the maximum tenure extends to 10 years.
No, IndusInd Bank calculates interest earned from NRO deposits on a simple interest basis for deposits with a tenure of up to 180 days.
