Latest IndusInd FD Rates 2024

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Established in 1994 and headquartered in Mumbai, IndusInd Bank is one of India’s leading financial institutions. It caters to around 35 million customers throughout India, including individuals, large corporations, various government entities, and PSUs. Their extensive network includes 2,606 branches or banking outlets and 2,875 ATMs, reaching 138,000 villages in the country.

An Induslnd Bank Fixed Deposit is a secure investment choice and is widely preferred due to its stability and lucrative returns. This bank offers many FD schemes with different minimum deposit amounts and varying tenures.

The following table provides a detailed view of IndusInd Bank FD rates:

Minimum Deposit	₹1,000
Maximum Deposit	No limit
Minimum Tenure	7 days
Maximum Tenure	61 months and above
Interest Rates	3.50% – 8.25% (including rates for senior citizens)
Lock-in Period	5 years lock-in period for a Tax Saver FD
Senior Citizen	4.25% – 8.25% (for deposits below ₹2 crores)5.5% – 8% (for deposits above ₹2 crores)
General Citizen	3.5% – 7.5% (for deposits below ₹2 crore)4.9% – 7.35% (for deposits above ₹2 crores)

Table of Contents

IndusInd FD Rates 2024

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Tenure	General Citizen	Senior Citizen

Features and Benefits of Induslnd Bank FD Interest Rate

Here are some important features and benefits of IndusInd Bank FD schemes:

An extra 0.50% of interest is offered to senior citizens. The additional rate of interest is an add-on to what is offered to general citizens.
IndusInd Bank FD interest rates are higher for FDs between ₹1 crore to ₹5 crore that are not withdrawable. The interest rate ranges from 4.9% to 7.6% for general citizens and 5.55% to 8.25% for senior citizens.
Several choices are available for receiving interest payments: monthly, quarterly, semi-annually, annually, or upon maturity.
You can open an IndusInd fixed deposit account through online platforms by providing Aadhaar and PAN details.
Premature withdrawal and nomination facilities are available.
An automatic renewal facility is available with your FD account.

How to Book Induslnd Bank FD?

You can open an IndusInd Bank FD account both online and offline. The process is more simple for people who are already existing customers of the bank. The steps to open an account have been discussed below:

Online

You can open an IndusInd Bank FD account online via the IndusInd Bank online portal or Indus Mobile app.

1. IndusInd Bank Online Portal

Follow these steps to open a fixed deposit account in IndusInd Bank through its online portal.

Step 1: Visit the official website and login/register to your IndusInd Bank NetBanking account.
Step 2: Choose the Fixed Deposit option and click on ‘Apply Now’.
Step 3: Select whether you are a new or existing customer.
Step 4: Enter your mobile number, captcha, and the OTP.
Step 5: Proceed to finalise the verification process for your Aadhaar and PAN information.
Step 6: Fill out the application form by providing all necessary information appropriately, along with the details of the nominee.
Step 7: Choose the sum you want to transfer from your savings account to your FD.
Step 8: After successful submission, the fixed deposit receipt and additional information will be forwarded to the email address on record. Alternatively, a physical copy will be dispatched to the registered address via courier.

Indus Mobile App

Here are the steps you can follow on the Indus mobile application to book your fixed deposit account:

Step 1: Download the Indus Mobile app and enter your credentials to log in.
Step 2: Choose the option ‘Create Fixed Deposit’ and fill out the form by providing the required information.
Step 3: The amount will be transferred from your savings account after completing and submitting the form.

You will receive the fixed deposit receipt and other relevant information at your registered email address or a physical copy to your registered address.

Offline

To open an FD account offline, follow the steps mentioned below:

Step 1: Visit your nearest IndusInd Bank branch.
Step 2: Fill in the IndusInd Bank FD application form.
Step 3: Submit all required documents, along with the form and the deposit amount.

Once the application is successfully processed, IndusInd Bank will issue an FD receipt.

Documents Required to Book Induslnd Bank FD

Here is a list of documents you need to submit to open an Induslnd Bank FD:

Completed FD application form
Identity Proof – Aadhaar Card, Passport, PAN card, Driving licence
Address Proof – Aadhaar Card, Passport, electricity bill, bank statement with a cheque, or telephone bill.
2-4 passport-sized photographs

However, if you already have an account with IndusInd Bank, you are not required to submit any of the above-mentioned documents.

Eligibility to Open Induslnd Bank FD

In order to open an IndusInd FD account and avail lucrative IndusInd FD interest rates, you need to meet the following eligibility criteria:

Type of Applicant: Indian citizen, individuals, guardians on behalf of minors, NRI, Sole proprietorships, Partnership firms, Limited companies, Societies, HUFs (Hindu Undivided Families), Clubs, Trusts, and Associations.
Age Group: Must be at least 18 years old.

Types of Induslnd Bank FD Schemes

The following are the different Induslnd Bank FD schemes that come with different sets of interest rates, tenure as well and benefits.

1. IndusInd Fixed Deposit

This Fixed Deposit scheme provides you with guaranteed returns and attractive advantages. Your returns remain steady regardless of market fluctuations. There are different tenures to choose from, and you will get best-in-class interest rates.

Minimum Deposit: ₹10,000
Maximum Deposit: ₹5 crores
Tenure: 7 days to 61 months and above
Interest Rate: 3.50% to 8.25% (including senior citizens)
Eligibility Criteria: Indian residents.

2. IndusInd Sweep In / Sweep Out Deposit

With IndusInd Bank’s sweep-in/sweep-out deposit feature, your funds remain secure, easily accessible, and liquid for any unforeseen financial requirements. This scheme automatically transfers the funds from your savings account to your deposit account for a specific period. This deposit option is ideal for individuals and businesses that regularly maintain a constant balance in their Current Account or Savings Account.

Minimum Deposit: As per the type of savings or current account of the depositor.
Maximum Deposit: ₹5 crores.
Tenure: 30 days to 24 months
Interest Rate: 3.5% to 8.25% (including senior citizens)
Eligibility Criteria: Indian residents.

3. IndusInd Young Saver Deposit

The IndusInd Young Saver Deposit scheme encourages children to save more by offering high returns on savings. With this scheme, the bank links the minor’s savings account with a Flexi recurring deposit account, which the guardian manages.

Minimum Deposit: ₹11
Maximum Deposit: No maximum limit.
Tenure: 6 months to 10 years
Interest Rate: 5.85% to 7%
Eligibility Criteria: Indian resident – a guardian for a minor.

4. IndusInd Senior Citizen Scheme

With IndusInd Bank FDs, citizens above 60 years of age can get a higher rate of interest than what is offered to general citizens. In a joint account, the first name must be of the senior citizen. However, this account cannot be used for commercial purposes.

Minimum Deposit: ₹10,000
Maximum Deposit: ₹5 crores
Tenure: 7 days to 120 Months
Interest Rate: 4.25% to 8%
Eligibility Criteria: Indian residents above 60 years.

5. IndusInd Deposit Plus

IndusInd Deposit Plus scheme provides the benefit of dual investments. It shifts the interest gained from the fixed deposit into a mutual fund using a Systematic Investment Plan. Before opening a Deposit Plus account, ensure that the minimum monthly interest payout from the FD is at least ₹1,000. Additionally, you will receive a tax benefit since the tax-free return on equity is applicable if you redeem it after one year.

Minimum Deposit: ₹2,25,000
Maximum Deposit: No upper limit
Tenure: 7 days to 120 Months
Interest Rate: 6.75%
Eligibility Criteria: Indian resident holding Savings Account and Current Account with IndusInd Bank.

6. IndusInd NRE Fixed Deposit

An NRI or PIO can benefit from an NRE Fixed Deposit, which enables him/her to deposit his/her foreign earnings in an Indian account. This is a fully repatriable deposit account that enables NRIs to earn attractive returns on income earned from abroad. It should be noted that the deposited amount gets converted to INR.

Minimum Deposit: ₹10,000
Maximum Deposit: ₹5 crores
Tenure: 1 year to 10 years
Interest Rate: 7% to 7.5%
Eligibility Criteria: NRI

7. IndusInd NRO Fixed Deposit

IndusInd Bank offers NRO FD schemes to Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) to deposit their income earned in India; the amount deposited is fully repatriable. However, the interest earned on this scheme is subject to a tax of 30%.

Minimum Deposit: ₹10,000
Maximum Deposit: ₹5 crores
Tenure: 7 days to 10 years
Interest Rate: 3.5% to 7.5%
Eligibility Criteria: NRI

8. IndusInd FCNR Fixed Deposit

With an FCNR Deposit account, you can deposit your foreign earnings in an Indian FD account without converting them into Indian Rupees. This safeguards your funds from potential exchange rate fluctuations. IndusInd Bank accepts deposits in six different currencies – USD, GBP, EUR, JPY, CAD and AUD. Interest on FCNR accounts is calculated in a compounded manner.

Minimum Deposit: Not mentioned.
Maximum Deposit: USD 25 million and above
Tenure: 1 year to 5 years
Interest Rate: 4.90% to 5.85% (for USD)
Eligibility Criteria: NRI

The fixed deposits are ideal for individuals who prioritise secured returns yet seek portfolio diversification or a starting point for their investment journey. Before investing your money, you should carefully review IndusInd Bank FD rates 2023. This will ensure that you make informed decisions and avoid any potential pitfalls or missed opportunities in the process. In conclusion, the IndusInd Bank FD rates are lucrative, and you can choose from a range of FD schemes to suit your financial goals and preferences. With attractive interest rates, flexible tenures, and various benefits, these FDs are designed to help you grow your savings and investments over time.

FAQs

What is the present interest rate of the IndusInd Bank FD account?

The present interest rate of IndusInd Bank ranges between 3.50% to 8.25% as per different tenure and type of applicant.

What will be my interest rate for a 1-year FD account with the bank?

7.50% and 8.25% is the 1-year interest rate for FD accounts opened by general and senior citizens, respectively.

What will be my interest rate for a 3-year FD account with IndusInd Bank?

7.25% and 8.00% is the 3-year interest rate for FD accounts opened by general and senior citizens, respectively.

What is the penalty for premature withdrawal of a fixed deposit amount in IndusInd Bank?

In case of premature withdrawal before the specified tenure, the interest rate applicable will be adjusted based on the withdrawn amount and the actual period for which the account was held. Also, a penalty of 1% interest will be imposed, if applicable.

How will I receive the interest or maturity amount in the case of IndusInd FDs?

Post maturity of your IndusInd Bank FD, the total amount will either be deposited in your Savings account with the bank or a demand draft will be issued in your name in case you are not an existing bank member.

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Disclaimer

This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.