IndusInd Bank Senior Citizen FD Rates

If you are a senior citizen who is aged 60 years and above, then you can open a fixed deposit (FD) account with IndusInd Bank called the IndusInd Senior Citizens Saving Scheme. The interest rate you will earn will range between 3.00% and 6.50% for tenure ranging between seven days and 10 years. The process to open an FD account is very simple and easy.

Benefits of IndusInd Bank Senior Citizens Saving Scheme

Some of the benefits of opening an FD account under this scheme are given below:

  • Minimum deposit amount of only Rs.10,000.
  • You will be eligible to earn an additional 0.50% interest on the deposits made by you.
  • TDS will be applicable.
  • Tenure ranges between seven days and 10 years.
  • You can close your FD account prematurely.
  • Nomination facility is allowed.

Eligibility Criteria

  • You must qualify as a senior citizen which means you must be aged 60 years and above.

Documents Required

  • Passport size photograph of the applicant.
  • Application form duly filled and signed by the applicant.
  • Proof of identity such as PAN card, passport, driving license, etc.
  • Proof of address such as Aadhaar, utility bills, etc.
  • If you are introduced by an already existing IndusInd Bank customer.

FD Interest Rates for IndusInd Bank Senior Citizen Savings Account

Deposit less than Rs.2 crore

Tenure Rate (in %)
7 days to 14 days 3.00
15 days to 30 days 3.25
31 days to 45 days 3.50
46 days to 60 days 3.75
61 days to 90 days 3.90
91 days to 120 days 4.25
121 days to 180 days 4.75
181 days to 210 days 5.10
211 days to 269 days 5.25
270 days to 354 days 6.00
355 days to 364 days 6.00
1 Year to below 1 Year 6 Months 6.50
1 Year 6 Months to below 1 Year 7 Months 6.50
1 Year 7 Months to below 2 Years 6.50
2 years to below 2 years 6 Months 6.50
2 years 6 Months to below 2 years 9 Months 6.50
2 years 9 months up to 3 years 6.50
Above 3 years up to 61 months 6.50
61 month and above 6.00
Indus Tax Saver Scheme (5 years) 6.50

How to Apply for IndusInd Bank Senior Citizens Saving Scheme

  • Click on the link
  • On the page, click on the ‘Apply Now’ button.
  • Select either ‘I am a New Customer’ or ‘I am an Existing Customer’.
  • Enter the mobile number and type the characters given in the image. Click on ‘Enter’.
  • Once you enter the portal, follow the instructions given to complete the application process.

You can also visit the nearest IndusInd Bank to open an FD account. Make sure you have all the relevant KYC documents along with you. A representative from the bank will help you with the application process.

FAQs on IndusInd Bank Senior Citizens Saving Scheme

  1. Do I need to have a bank account with IndusInd Bank if I wish to open a Senior Citizen FD account?

    No, you do not need to have a bank account with IndusInd Bank if you wish to open a Senior Citizen FD account.

  2. Are IndusInd Bank’s online fixed deposits safe?

    Yes, they are safe. The bank also provides insurance of up to Rs.5 lakh provided by the DICGC (Deposit Insurance and Credit Guarantee Corporation of India a subsidy of Reserve Bank of India.

  3. I am a senior citizen. However, I wish to open an FD account in the name of a minor. Can I do this?

    No, you cannot open an account in the name of a minor.

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