• IndusInd Bank Tax Saving FD

    The IndusInd Tax Saving Fixed Deposit Scheme offers deposits the opportunity to earn an attractive rate of interest on lump-sum amounts up to Rs.1.5 lakh while also availing tax deductions of up to Rs.1.5 lakh (including other exemptions in this category as per the Income Tax Act, 1961). Senior citizens can avail 0.50% additional interest on their fixed deposit. There is a 5-year lock-in period for this due to the tax benefits.

    IndusInd Bank offers the Tax Saving Fixed Deposit Scheme, 2006, with which you can get tax exemptions on your investments. The scheme comes with a lock-in period of 5 years. Let's know a bit more about this plan.

    Interest Rates on IndusInd Tax Saving FD

    General depositors can get 6.50% p.a. as interest whereas senior citizens can get 7.00% p.a. You can deposit a minimum of Rs.1,000 and a maximum of Rs.1.5 lakh with this scheme. The lock-in period is 5 years before which you cannot withdraw funds from your FD account. Note that the interest rates are subject to change as per the discretion of the bank.

    Features and benefits of IndusInd Tax Saving FD

    Account type Term deposit/Special term deposit
    Period
    • Minimum: 5 years
    • Maximum: 10 years
    Interest rate
    • 6.50% p.a. (for general citizens)
    • 7.00% p.a. (for senior citizens)

    IndusInd Tax Saving FD Interest Calculator

    It's recommended to calculate your IndusInd Bank FD interest rate before hand so that you know how much returns you will receive in the future. In order to do that, you can use any online fixed deposit calculator.

    How to Open an IndusInd Bank Tax Saving Fixed Deposit Online

    Internet Banking

    • Step 1: Log in via internet banking ID and choose on 'Tax Saving Deposit’
    • Step 2: Click on ‘Create Fixed Deposit’, and fill out the form
    • Step 3: The amount will be transferred from your savings account into your fixed deposit.

    Mobile Banking

    • Step 1: Choose your deposit option on the mobile banking account.
    • Step 2: Select ‘Open FD’ and fill in all details.
    • Step 3: Choose the amount you want to add to your fixed deposit.

    Bank Branch

    You can visit any bank branch near you with relevant documents, and a representative will guide you through the application process.

    Applying for Tax Savings Fixed Deposit as a New Customer

    • Step 1: Visit the bank's website, and fill out an online application form.
    • Step 2: A representative from the bank will get in touch with you and pick up the required documents.
    • Step 3: On the successful submission of the documents, your fixed deposit account will be opened.

    Key Information

    Eligibility to Open a FD
    • Individual
    • HUF
    Documents Required
    • SBI Application Form
    • Depositor’s photograph (2 copies)
    • Identity proof & Address proof as per KYC Norms
    • PAN Card copy/ Form 60 or 61
    • Aadhaar Card Details
    Benefits of a SBI tax saving fixed deposit
    • Nomination facility
    • Automatic renewal option after maturity
    • Online operation for the FD account

    FAQs on IndusInd Tax Saving Fixed Deposit Scheme

    1. What is the maximum tenure of the IndusInd Bank Fixed Deposit Scheme?

      10 years is the maximum tenure of the IndusInd Bank Fixed Deposit Scheme.

    2. What is the minimum tenure of the IndusInd Bank Fixed Deposit Scheme?

      The minimum tenure of the IndusInd Bank Fixed Deposit Scheme is 7 days.

    3. Is there a premature withdrawal facility available for the Tax Saving Deposit Scheme?

      No, premature withdrawal is not available for Indus Tax Saver Deposit Scheme.

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