• IndusInd Bank Young Saver Deposit Scheme

    The Young Saver Deposit scheme by IndusInd Bank is specially designed for children to inculcate the habit of saving from an early age. In this scheme, there are high returns on investment and the minor’s savings bank account is linked with the guardian’s flexi recurring deposit account.

    Features and Benefits

    • The interest rate for the saver scheme will be same as that for the recurring deposit.
    • At the end of every month, the balance in minor’s savings bank account will get transferred to guardian’s flexi recurring deposit account sparing only Rs.100.
    • The scheme requires a minimum opening balance of Rs.11 with no upper limit on deposits.
    • Premature closure is allowed in this scheme.
    • Nomination facility is available in this scheme.
    • The tenure for this term deposit is 6 to 120 months.
    • TDS on interest is as per the current income tax regulations.

    Eligibility

    • The guardian can apply for this scheme on behalf the minor.

    Documentation required for Young Saver Deposit Scheme:

    1. Duly signed application form
    2. Passport size photograph
    3. Valid identity proof: Aadhar card, PAN card, Passport, etc.
    4. Valid address proof: Telephone bill, Electricity bill, etc.
    5. An existing IndusInd Bank customer should introduce you.

    How to apply for IndusInd Bank Young Saver Deposit Scheme

    Follow the steps mentioned below to apply for IndusInd Bank Young Saver Deposit Scheme:

    • Step 1: Visit IndusInd Bank Young Saver Deposit
    • Step 2: Click on the “Apply” button present on top-right corner.
    • Step 3: Fill in the required details.
    • Step 4: Submit.

    FAQs on IndusInd Bank Young Saver Deposit Scheme

    1. Can I apply for this scheme offline?

      Yes, you can visit any of the IndusInd Bank branch and submit the application form.

    2. Is introduction by an existing IndusInd Bank customer mandatory to apply for this scheme?

      Yes, introduction by an existing customer is mandatory to apply for this scheme.

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