IndusInd Bank Fixed Deposit
Last Updated : June 27, 2020, 1:03 a.m.
About IndusInd Bank Fixed Deposit
There is no age for saving. You can start saving as and when you feel like and with whatever amount you can spare. IndusInd Bank understands this importance of saving and has brought for people of all ages the various schemes of fixed deposit. Fixed Deposit is an idle method of saving for future. It is an investment that can be utilised in times of requirement. With this perspective the bank offers the following fixed deposit schemes:
- IndusInd Bank Tax Saver Fixed Deposit
- IndusInd Bank Senior Citizen Scheme
- IndusInd Bank Deposit Plus
IndusInd Bank Fixed Deposit Interest Rates
(w.e.f. January 2, 2020)
| Maturity Period | For Amount Less than 2 Crore | For amount of 2 crore to less than 5 crore | For amount of 1 crore to less than 5 crore (Non - Withdrawable) |
|---|---|---|---|
| (% p.a.) | (% p.a.) | (% p.a.) | |
| 7 days to 14 days | 4.00 | 4.00 | 4.00 |
| 15 days to 30 days | 4.25 | 4.25 | 4.25 |
| 31 days to 45 days | 5.00 | 5.00 | 5.00 |
| 46 days to 60 days | 5.50 | 5.50 | 5.50 |
| 61 days to 90 days | 5.50 | 5.50 | 5.50 |
| 91 days to 120 days | 5.75 | 5.75 | 5.75 |
| 121 days to 180 days | 5.75 | 5.65 | 5.75 |
| 181 days to 210 days | 6.00 | 5.90 | 6.00 |
| 211 days or below 1 years | 6.00 - 6.25 | 5.90 - 6.15 | 6.00 - 6.25 |
| 1 Years to below 1 Years 4 Months | 6.65 | 6.55 | 6.65 |
| 1 Years 4 Months to below 61 months | 6.75 | 6.65 | 6.75 |
| Above 61 Months | 6.65 | 6.65 | 6.65 |
How to Apply
You can apply from home through the bank’s online service. Login on the bank’s official website, click on Apply Now Option. Fill in your details and submit it. The bank representatives will get back to you for further KYC process. Alternately, you can visit the nearest branch and submit the Deposit Account Form.
IndusInd Bank Fixed Deposit Schemes
1. IndusInd Bank Tax Saver Fixed Deposit
To avail the tax savings benefits invest in the Tax Saver Fixed Deposit Scheme. You get tax exemption under Section 80C of Income Tax Act for an investment of amount upto ₹1,50,000 per year. The amount is locked in for the period of 5 years.
| Particulars | Details |
|---|---|
| Maximum Investment Amount | ₹ 1,50,000 |
| Tenure | 5 years |
| Nomination Facility | Available |
2. IndusInd Bank Senior Citizen Scheme
It is a special scheme launched to cater the needs of senior citizens. Any citizen who has attained the age of 60years can book the deposit with the minimum amount of ₹10,000.
| Particulars | Details |
|---|---|
| Minimum Investment Amount | ₹ 10,000 |
| Minimum Tenure | 7 days |
| Maximum Tenure | 10 years |
| TDS | Applicable |
| Premature Closure | Allowed |
| Nomination Facility | Available |
3. IndusInd Bank Deposit Plus
This scheme offers the dual investment benefits. The interest earned on the fixed deposit is invested in a mutual fund through Systematic Investment Plan. You get the tax advantage as the return earned from equity is tax-free if redeemed after 1 year.
| Particulars | Details |
|---|---|
| Nomination Facility | Available |
| SIP Scheme | Multiple schemes to choose from |
| Premature Withdrawal | Allowed |
| Loan/Overdraft Facility | Available |
IndusInd Bank Fixed Deposit Calculator
The Fixed Deposit Calculator helps you know the amount of interest receivable at the end of the tenure. It calculates the maturity value of the deposit that includes the principal amount and the interest amount. The maturity value is calculated on the basis of the rate of interest prevalent on the tenure you have opted for.
IndusInd Bank Fixed Deposit Application Form
The application form is to be filled to avail the facility of fixed deposit. Fill in the personal details, mark the type of plan you are opting for and the interest payout option. Fill in the maturity details as, the tenure of investment and auto-renewal of policy. In case you want to avail nomination facility fill in the details of the nominee.
Eligibility
IndusInd Bank Fixed Deposits can be opened by Individuals, HUFs, Sole Proprietorships, Partnership Firms, Ltd. Companies, Guardians on behalf of Minors, Societies, Clubs, Trusts and Associations.
Documentation Required
| Category | Documents |
|---|---|
| An Individual, Hindu Undivided Family, Sole Proprietorship Concern | ID Proof Address Proof Age proof (For Senior Citizen Scheme) A photograph |
| Trusts | Copy of the Trust Deed Copy of the registration certificate Copy of the Resolution of The Trustees Authorising the members concerned to open and operate the account Photographs of the members operating the account |
| Associations / Clubs | By-laws of the Association Copy of the Resolution by the board authorising the members concerned to open and operate the account Photographs of the members operating the account |
| Partnership Firm | Partnership Deed Letter from partners approving the persons concerned to open and operate the account Photographs of the persons operating the account |
Features of IndusInd Bank Fixed Deposit
- Choice of various Fixed Deposit Plan
- Variable tenure range
- Interest payable as per customer’s requirement
- Interest is automatically credited to the Savings/Current account
- Partial withdrawal permitted
- Auto renewal facility
- Nomination facility available
- Special rates for senior citizens
