• Indus Deposit Plus

    The Indus Deposit Plus is a guaranteed-return investment scheme that offers various competitive benefits to its customers. In this scheme, the primary deposit amount is placed in a fixed deposit. The interest earned from this fixed deposit is invested in various mutual funds through SIP (Systematic Investment Plan). To open a Deposit Plus account, the minimum monthly interest payout on a fixed deposit must be at least Rs.1,000.

    Features of Indus Deposit Plus

    Given below are the main features of the Indus Deposit Plus FD scheme:

    Deposit Amount Minimum deposit: Rs.10,000
    Rate of Interest

    General public: 2.50% p.a. to 6.00% p.a.

    Senior citizens: 3.00% p.a. to 6.50% p.a.


    Minimum duration: 7 days

    Maximum duration: 10 years

    Nomination Available
    Premature withdrawal Allowed

    Advantages of Indus Deposit Plus Account

    The Indus Deposit Plus account provides various benefits to its customers. They are:

    • Higher returns: The scheme has the potential to provide higher profits by investing in market-linked products.
    • Tax Advantage: If you redeem the returns you earned from your equity-linked SIP after one year, the returns will be deemed to be tax-free
    • Capital protection: Since the primary amount will be placed in a fixed deposit and the interest earned will be invested in mutual funds, opening a Deposit Plus account will guarantee capital protection.
    • Operational ease and convenience: Your deposit's monthly interest will be invested in an SIP by a simple auto-debit instruction.
    • A chance to select from multiple SIP schemes to invest in.
    • Allows you to avail an overdraft against the fixed deposit.
    • ‘Rupee cost averaging’ benefit that reduces the volatility of the stock market by investing on a regular basis.

    Eligibility Criteria for applying for Indus Deposit Plus Account

    To open an Indus Deposit Plus account, you must meet the following requirements:

    • Must be above 18 years of age
    • Must be a resident of India with an IndusInd Savings Account or Current Account
    • NRIs with an IndusInd NRE or NRO Account

    How to Apply for Indus Deposit Plus

    You can instantly open an Indus Deposit Plus account online. Simply follow the 3 easy steps mentioned below:

    Step 1: Visit IndusInd Bank’s official website

    Step 2: Click on the ‘Apply online’ section

    Step 3: Choose the ‘fixed deposit’ option

    Step 4: Choose the ‘I am an Existing Customer’ tab

    Step 5: Enter your mobile number and verify it through OTP

    Step 6: You will be directed to the application page, where you have to fill in all your details including PAN and Aadhar numbers.

    Step 7: Verify your identity and apply for the Indus Deposit Plus account successfully

    Step 8: Fill in the tenure and investment amount

    Step 9: Choose from the options ‘Tax saver’ or ‘Regular’ and click on the ‘Select & Continue’ option

    Step 10: Enter your details and follow all the given instructions to successfully open the IndusInd Deposit Plus account.

    Steps to Apply for Indus Deposit Plus Offline:

    To open an Indus Deposit Plus account offline, visit the nearest IndusInd Bank branch. A representative of the bank will guide you through the application process.

    Indus Deposit Plus Interest Rates for Deposits below Rs.2 Crore

    Here are the latest interest rates for the deposit scheme:

    Tenure Interest Rate for General Public (p.a.) Interest Rate for Senior Citizens (p.a.)
    7 days to 14 days 2.50% 3.00%
    15 days to 30 days 2.75% 3.25%
    31 days to 45 days 3.00% 3.50%
    46 days to 60 days 3.25% 3.75%
    61 days to 90 days 3.40% 3.90%
    91 days to 120 days 3.75% 4.25%
    121 days to 180 days 4.25% 4.75%
    181 days to 210 days 4.60% 5.10%
    211 days to 269 days 4.75% 5.25%
    270 days to 354 days 5.50% 6.00%
    355 days to 364 days 5.50% 6.00%
    1 year to up to 61 months 6.00% 6.50%
    61 months and above 5.50% 6.00%

    Note: These interest rates are effective from 23 July 2021 and are subject to change at the bank's discretion

    FAQs on Indus Deposit Plus

    1. Can an Indus Deposit Plus FD account be opened under a minor’s name?

      No, you cannot open an Indus Deposit Plus FD account under a minor’s name. Customers have to be above the age of 18 to open the FD account.

    2. Do senior citizens get any extra benefit for opening an Indus Deposit Plus?

      Yes, senior citizens opening a Deposit Plus account with deposits below Rs.2 crore with the bank will get 0.50% more interest rate than other customers.

    3. Do I have to be an account holder with IndusInd Bank to open an Indus Deposit Plus account?

      Yes, only existing customers of IndusInd Bank will be able to open an account under the Indus Deposit Plus scheme.

    4. What are the documents needed to open an Indus Deposit Plus FD account?

      You do not need to provide any documents when you first open your Indus Deposit Plus FD account. You will just need your Aadhar and PAN number to open the account online. However, you need to submit your KYC paperwork within one year of opening the fixed deposit.

    5. How long will it take to open the Indus Deposit Plus account?

      You can open the Indus Deposit Plus account instantly through online application or by visiting the nearest branch of IndusInd Bank.

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