IndusInd Fixed Deposit

Private

A1+

DICGC

6%

Interest for 3 years

IndusInd Bank FD Interest Rates Sep 2021

Note: All interest rates shown below are as on 22nd Jun 2021

Historical FD Rates →
TenureNormal Citizen FD RateSenior Citizen FD Rate
7 days - 1 month2.75%3.25%
1 month 1 day - 1 month 15 days3%3.5%
1 month 16 days - 1 month 30 days3.5%4%
2 months - 2 months 29 days3.75%4.25%
3 months - 3 months 29 days4%4.5%
3 months 30 days - 5 months 27 days4.5%5%
6 months - 6 months 29 days5%5.5%
6 months 30 days - 8 months 27 days5.25%5.75%
8 months 28 days - 11 months 30 days5.5%6%
1 year - 9 years 11 months 29 days6%6.5%
2 years - 2 years 11 months 29 days6.5%7%

About IndusInd Bank FD

IndusInd Bank Limited is a new-generation Indian bank headquartered in Pune. Banking footprint with over 2.5 crore customers, over 5,000 distribution points and nearly 2,000 branches across the country. The bank has a balance sheet size of Rs. 3.07 Lakh Crs as on 31st March 2020. The bank recorded a profit of Rs 4,458 Crs in FY20

2.75% - 6.5%

FD Rate

3.25% - 7%

FD Rate for Seniors

-

Minimum Deposit

₹ 2 Crores

Maximum Deposit

0 days

Lock-in

-

FD Tenure

-

Loan against FD

A1+

CRISIL Rating

Fixed Deposits

Flexible tenure & partial withdrawal facility, without the hassle of opening a savings account.

IndusInd Bank FD Returns Based on Investment Amount

Investment AmountFor 3 years with interest of 6%For 5 years with interest of 6%
₹ 50,000₹67443₹67443
₹ 1 lakh₹134885₹134885
₹ 2 lakh₹269770₹269770
₹ 5 lakh₹674425₹674425
₹ 10 lakh₹1348850₹1348850

Compare IndusInd Bank Fixed Deposit Returns with Top Banks

Use FD calculator to change values and compare your returns from top banks.

vs

Pre Tax

Post Tax

Tax Rate
Maturity Amount₹106168₹ 101764
Total Investment Amount₹ 100000₹ 100000
Total Interest Gained₹6168

₹6168

₹ 1764
Income Tax on Wealth Gained₹ 12898₹ 13092

Compare IndusInd Bank Fixed Deposit Rates with Top Banks

Bank NameFD Interest Rates
Dhanlaxmi Bank
5.4% - 5.9%
Tamilnad Mercantile Bank
5.5% - 5.5%
IDBI Bank
5.3% - 5.8%
Bank of India
5.15% - 5.65%
Sundaram Finance
6.25% - 6.75%
AU Small Finance Bank
6.25% - 6.75%
Canara Bank
5.5% - 6%
Axis Bank
5.4% - 5.9%
Mahindra Finance
6.3% - 6.55%
PNB Housing Finance Ltd
6.6% - 6.85%
IDFC First Bank
5.75% - 6.25%
State Bank of India
5.3% - 5.8%
HDFC Bank
5.15% - 5.65%
Bank of Baroda
5.1% - 5.6%
LIC Housing Finance
5.75% - 6%
Tamil Nadu Power Finance
7.75% - 8.25%
Jammu & Kashmir Bank
5.3% - 5.8%
Bajaj Finance
6.5% - 6.75%
Yes Bank
6.25% - 7%
RBL Bank
6.3% - 6.8%
Punjab and Sind Bank
5.3% - 5.8%
Kotak Mahindra Bank
5.1% - 5.6%
Central Bank of India
5% - 5%
DCB Bank
6.5% - 7%
Bandhan Bank
5.25% - 6%
Fincare Small Finance Bank
6.25% - 6.75%
DBS Bank
5.5% - 5.5%
Indian Overseas Bank
5.2% - 5.7%
Karur Vysya Bank
5.5% - 6%
Equitas Small Finance Bank
6.35% - 6.85%
City Union Bank
5.5% - 6%
SCB Bank
5.35% - 5.85%
Karnataka Bank
5.5% - 5.9%
South Indian Bank
5.5% - 6%
HDFC Ltd Fixed Deposit
6.05% - 6.3%
Bank of Maharashtra
4.9% - 5.4%
ICICI Housing Finance Company
6.05% - 6.3%
ESAF Small Finance Bank
5.75% - 6.25%
Indian Bank
5.15% - 5.65%
Shriram Finance
8% - 8.4%
Federal Bank
5.35% - 5.85%
ICICI Bank
5.15% - 5.65%
Ujjivan Small Finance Bank
6.75% - 7.25%
Post Office
5.5% - 5.5%
Punjab National Bank
5.1% - 5.6%
Union Bank of India
5.4% - 5.4%

Calculate IndusInd Bank FD Returns

₹ 100000

Total Investment

₹6168

Wealth Gained

₹6168

Wealth Gained

₹106168

Maturity Amount

How to invest in IndusInd Bank FD?

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IndusInd Bank offers multiple fixed deposits for various tenures with different interest rates to its investors. The interest rate on IndusInd Bank FDs is higher than their savings account. One can invest in IndusInd Bank FDs through both online and offline modes with a minimum investment of INR 10,000. This article covers IndusInd Bank FD, its features and interest rates in detail.

IndusInd Bank Fixed deposit schemes

Following are the types of fixed deposit schemes:

  • Fixed Deposit
  • Tax Saver Fixed Deposit
  • Sweep In / Sweep Out Deposit
  • Young Saver Deposit
  • Senior Citizen Scheme
  • Deposit Plus

IndusInd Bank Fixed Deposit

The Fixed (Term) Deposit scheme is a guaranteed return investment option that offers competitive benefits.

  • Minimum Deposit Amount: INR 10,000
  • Minimum Investment Tenure: 7 days
  • Maximum Investment Tenure: 120 months
  • Interest rate: The scheme has competitive interest rates. Also, the scheme offers flexible interest payout options (monthly, quarterly, half-yearly, annually, or at maturity).
  • Furthermore, the scheme provides partial withdrawal, auto-renewal, and nomination facility. Depositors can conveniently book through Indusnet or phone banking.
  • IndusInd Bank Fixed Deposit can be opened by individuals, guardians on behalf of minors. Also, sole proprietorships, HUFs, partnership firms, limited companies, societies, trusts, clubs, and associations can invest in IndusInd FDs.

IndusInd Bank Tax Saver Fixed Deposit

Investment in Indus Tax Saver FD schemes qualifies for deduction under Section 80C of the Income Tax Act.

  • Minimum Deposit: INR 100
  • Maximum Deposit Amount: INR 1,50,000
  • Lock-in period: 5 years. Furthermore, the Indus Tax Saver scheme doesn’t allow partial or premature withdrawals.
  • Eligibility: Resident Individual, Hindu Undivided Family, Sole Proprietorship, Partnership Firm, and Limited Companies can invest in IndusInd FDs. Guardians on behalf of minors, Societies, Clubs, Trusts, and Associations can also invest in IndusInd FDs.

IndusInd Bank Sweep In / Sweep Out Deposit

IndusInd Bank’s sweep in/sweep out deposit scheme ensures that the funds are safe and liquid for urgent financial needs with zero cost. An automatic transfer of funds goes to term deposit for a specific period under the Sweep In/ Sweep Out scheme. Moreover, this type of deposit scheme is suitable for individuals and corporates who get a continuous float in CA/SB.

  • Minimum Deposit Amount: As per the depositor’s savings/current account
  • Minimum Investment Tenure: 30 days
  • Maximum Investment Tenure: 24 months
  • Furthermore, the scheme allows premature closure of the account and provides a nomination facility.
  • Eligibility: Corporates and individuals who get a continuous float in CA/SB are eligible to open this fixed deposit account.

IndusInd Bank Young Saver Deposit

The young saver deposit encourages saving among children. It offers a high return on savings. The bank links the savings bank account with the Flexi recurring deposit (opened and operated by the guardian for the minor).

  • Minimum Deposit Amount: INR 11
  • Maximum Deposit Amount: No limit
  • Minimum Investment Tenure: 6 months
  • Maximum Investment Tenure: 120 months
  • Also, the scheme allows premature closure of the deposit account and provides a nomination facility.
  • Eligibility: A guardian can open the young saver deposit account on behalf of the minor.

IndusInd Bank Senior Citizen Scheme

A focused deposit scheme for senior citizens which offers a 0.50% higher fixed deposit interest rate than other schemes.

  • Minimum Deposit Amount: INR 10,000
  • Minimum Investment Tenure: 7 days
  • Maximum Investment Tenure: 120 months
  • Also, the scheme allows premature closure of the deposit account and provides a nomination facility.

IndusInd Bank Deposit Plus

The Deposit Plus scheme invests the principal deposit amount in a fixed deposit. In contrast, the interest earned on it is invested in a mutual fund through SIP (Systematic Investment Plan).

  • Minimum Deposit Amount: INR 10,000
  • Minimum Investment Tenure: 7 days
  • Maximum Investment Tenure: 120 months
  • Returns: The scheme offers potentially higher returns as it invests in market-linked instruments.
  • Capital Protection: The scheme ensures capital protection as the principal is invested in an FD scheme. Also, only the interest is invested in a mutual fund.
  • Tax Advantage: The returns from SIPs are tax-free when redeemed after one year. This helps the depositors in saving more.
  • Overdraft: Depositors can avail overdraft facility against this account.
  • Eligibility: All Resident current account and savings account holders, and Non-Residents Indians with NRE and NRO Accounts can open an IndusInd Bank Deposit Plus scheme. Also, the scheme is not available for minors.

Key Features of IndusInd Bank Fixed Deposit Schemes

  • Tenure: The tenure of an IndusInd Bank FD ranges from seven days to ten years. One cannot change the tenure of their IndusInd Bank FD once it has commenced.
  • Minimum and maximum investment: The minimum investment in IndusInd Bank FD is INR 10,000. However, there is no limit on the maximum amount of investment in IndusInd Bank FD.
  • IndusInd Bank FD rates: IndusInd Bank FD rates range between 3% and 6.5% for regular citizens and between 3.5% and 7% for senior citizens. Moreover, IndusInd Bank offers an additional 0.5% interest to senior citizens on their FDs. IndusInd Bank pays interest monthly, quarterly or annually. However, for deposits below the tenure of 180 days, the interest is paid only at maturity.
  • Premature withdrawal: All IndusInd Bank FDs can be withdrawn prematurely except for the tax-saving FD. The penalty for withdrawing the investment prematurely is 1% on the contracted interest rate.
  • Loan against FD: IndusInd Bank offers loans against their FDs. Investors can get up to 90% of the deposit amount as a loan against their IndusInd Bank FD investment. Also, the interest rate for the loan will be in the range of 4.25%-8%. Moreover, the tenure of the loan is limited to the tenure of the IndusInd Bank FD.
  • Nomination facility: IndusInd Bank FD investors can nominate beneficiaries for their FDs.
  • Auto-renewal: Investors can opt for auto-renewal of their IndusInd Bank FDs.
  • Safety: The Deposit Insurance Scheme of RBI covers all IndusInd Bank deposits. The scheme covers all IndusInd Bank deposits up to INR 5,00,000.
  • Additional payments: Investors cannot deposit an additional amount in an IndusInd Bank FD once it has commenced. However, they can open a fresh IndusInd Bank FD with the new amount.

How to open an IndusInd Bank FD deposit account?

One can open an IndusInd Bank FD account through various modes such as Internet Banking, Mobile App and offline.

Internet Banking

The following steps will help an individual to open an IndusInd Bank FD account through internet banking:

  • Login to the IndusInd Bank NetBanking account.
  • Choose the fixed deposit option, and click on ‘Create Fixed Deposit’.
  • Fill the application form precisely. And, on successful submission, the amount gets transferred from the savings account.
  • The fixed deposit receipt and other details will be sent via an email to the registered email address. Otherwise, a physical copy will be courier to the registered address.

Through Mobile App

IndusInd Bank App

The following steps will guide in opening an FD account through IndusInd Bank Mobile App:

  • In the home menu, select the ‘Fixed Deposit’ option.
  • Choose the fixed deposit option, and click on ‘Create Fixed Deposit’.
  • Fill the application form precisely. And, on successful submission, the amount gets transferred from the savings account.
  • The fixed deposit receipt and other details will be sent via an email to the registered email address. Otherwise, a physical copy will be courier to the registered address.

Offline IndusInd Bank FD Opening

To open an IndusInd Bank FD account offline, one has to visit the nearest IndusInd Bank branch. Fill the IndusInd Bank FD application form and submit all the necessary documents along with the deposit amount. On successfully processing the application, IndusInd Bank will provide an FD receipt.

Documents required to Open an IndusInd Bank FD

Following are the documents required to open IndusInd Bank fixed deposit:

  • Identity proof (PAN card, Passport, driving license, Aadhar card, government ID, senior citizen ID) Address proof (telephone bill, passport, Aadhar card, bank statement with cheque, electricity bill)

Eligibility to Open an IndusInd Bank FD

Following individuals are eligible to open a fixed deposit account in IndusInd Bank:

  • Individuals, including guardians on behalf of minors
  • Sole proprietorships
  • Partnership firms
  • Limited companies
  • HUFs, societies, trusts, clubs, and associations

Does IndusInd Bank offer Recurring Deposits?

IndusInd Bank offers recurring deposits to its depositors. IndusInd Bank recurring deposits have a minimum tenure of nine months and a maximum tenure of 10 years. Depositors can open an RD account either by going to the IndusInd Bank branch or online using internet banking. The minimum investment in IndusInd Bank RD is INR 500 and thereafter in multiples of INR 100. The interest rate for regular citizens on IndusInd Bank RDs is in the range of 5.5% to 6.5%, and for senior citizens, it is in the range of 6% to 7%.

Is FD interest taxable?

Only investment in IndusInd Bank Tax Saver FD qualifies for tax saving up to INR 1,50,000 per annum. Investment in no other IndusInd Bank FDs qualifies for tax saving under Section 80C of the Income Tax Act. The interest income from IndusInd Bank FD is taxable as per the investor’s income tax slab rates. Moreover, the interest income is subject to a TDS of 10% if the income from IndusInd Bank FD exceeds INR 40,000 per annum. For senior citizens, the limit is INR 50,000 per annum. Also, if the investor doesn’t disclose PAN Card details to the IndusInd Bank, then the TDS rate will be 20%.

In how many years will the FD double in IndusInd Bank?

To know in how many years IndusInd Bank FD will double, we can follow the 72 rule. We have to divide 72 by the interest rate, and the result will be the number of years IndusInd Bank FD will double. For example, for a tenure of 10 years, the IndusInd Bank FD interest rate for senior citizens is 7%. An investor can double the investment amount by investing for this tenure in IndusInd Bank FD in 10.28 years (72/7).

Frequently Asked Questions

What is the interest rate on FD in IndusInd Bank?

IndusInd Bank FD rates range between 3% and 6.5% for regular citizens and between 3.5% and 7% for senior citizens. Moreover, IndusInd Bank offers an additional 0.5% interest to senior citizens on their FDs. IndusInd Bank pays interest monthly, quarterly or annually. However, for deposits below the tenure of 180 days, the interest is paid only at maturity.

Is it safe to open FD in IndusInd Bank?

IndusInd Bank guarantees returns in the form of interest on their FDs. Moreover, the Deposit Insurance Scheme of RBI covers all IndusInd Bank deposits. Also, the scheme covers all IndusInd Bank deposits up to INR 5,00,000. Hence IndusInd Bank FDs are safe for investment.

Is there any minimum amount that I have to give for opening a Fixed Deposit with IndusInd Bank?

The minimum investment in IndusInd Bank FD is INR 10,000. However, there is no limit on the maximum amount of investment in IndusInd Bank FD.

Can a customer open an FD account online in IndusInd Bank?

Yes, investors can open an IndusInd Bank FD account online through their internet banking facility.

What is the highest fixed deposit interest rate for IndusInd Bank?

The highest FD rate for IndusInd Bank is 6.5% for a tenure of 3 to10 years. The highest IndusInd Bank FD rate for senior citizens is 7% for a tenure of 3 to10 years.

Who all are eligible to open an IndusInd Bank fixed deposit account?

Individuals, HUFs, sole proprietorships, partnership firms, limited companies, and guardians on behalf of minors can open an IndusInd FD account. Moreover, societies, clubs, trusts and associations are also eligible to open an IndusInd FD account.

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