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    Overview of IndusInd Bank Fixed Deposit

    IndusInd Bank, a private sector bank which started in 1994, has clientele among corporate and individual customers. It has 727 branches, and 1,350 ATMs spread across geographical locations of the country. It has international branches in London, Dubai and Abu Dhabi.

    IndusInd Bank is the clearing bank for - BSE and NSE - and major commodity exchanges in India. The BrandZ Top 50 rankings powered by the WPP and Millward Brown place it among Top 50 Valued Indian Brands. Implementing cutting-edge technology, the bank supports multi-channel delivery capabilities to serve its customers.

    IndusInd Bank Fixed Deposits

    Fixed deposits from IndusInd bank offer account holders multiple benefits by providing different options on tenures, interest reinvestment and payout, deposit amounts and interest rates. These FD schemes are devised to meet the varied needs of customers based on their liquidity and capital protection requirements. They provide guaranteed fixed returns making them suitable instruments for creating a steady income stream or parking savings for long periods of time which doesn’t require constant monitoring.

    Eligibility - Who can open an FD account with IndusInd Bank

    Any individual or minor who fulfils Know your Customer requirements can open a fixed deposit account in IndusInd bank. The bank also accepts deposits from NRIs in terms of NRE and NRO deposits.

    What Fixed Deposit Schemes does IndusInd Bank offer?

    IndusInd Bank offers several fixed deposits schemes for is customers. These are Sweep in/out deposits, Senior Citizen scheme and Young Saver Deposits. Targeted at different types of customers, these deposits offer combination of security with higher returns. The bank has received A1+ ratings from CRISIL for its certificate of deposit program.

    What is the minimum amount required to open an FD account with IndusInd Bank?

    In Sweep In/Out accounts the minimum balance is as below:

    • Savings Account- As per the specific Savings Account held
    • Current Account- As per the specific Current Account held

    In Senior Citizen Fixed Deposits, the minimum deposit is ₹ 10,000. Young Saver deposits require a minimum balance of ₹ 11 only.

    What is the maximum amount that can be deposited in an IndusInd Bank FD account?

    More details on maximum amount on fixed deposits can be found out from your nearest IndusInd branch.

    What is the minimum / maximum period for which funds can be held as fixed deposits with IndusInd Bank?

    For Senior Citizen Fixed Deposits, the minimum/maximum period of tenure ranges from 7 days to 120 months. For Sweep In/Out Deposits the tenure ranges from 30 days to 24 months. For Young Saver, it is 6 months to 120 months.

    How can someone open a fixed deposit account at IndusInd Bank?

    Fixed Deposits can be opened online or by walking into the nearest IndusInd branch by fulfilling the Know Your Customer norms and depositing the cash.

    What are the interest rates offered on IndusInd Bank fixed deposits?

    IndusInd bank offers varying rates of interest on its term deposits depending on two different slabs. Rates differ for varying tenures for fixed deposits below ₹ 15 lakhs and from 15 lakhs to ₹ 1 crore. They can vary between 3.5% to 8.75% on short-term holdings up to a year and between 8.5% to 9% on medium and long-term holding over a year.

    Although interest rates are fixed for the chosen deposit period they are subject to change, applicable on renewal and at the time of opening new accounts. Changes are driven by market movements, at the bank’s discretion.

    Does IndusInd Bank offer tax saver fixed deposits?

    Yes, IndusInd bank has a tax saver account called Indus Tax Saver that has a lock-in period of 5 years and offers 8.75 % interest p.a. (10.83% cumulatively). The scheme offers benefits under Sec 80C of Income Tax Act.

    Are FD accounts with IndusInd taxable?

    Yes, interest gained on IndusInd Bank FDs shall be liable to tax under the Income Tax Act. As per current rules, if the total interest on deposits, per depositor, per financial year, per branch is more than Rs 10,000/- the depositor has to pay tax. Tax benefits will be applicable under IndusInd Tax Saver as per existing guidelines. IndusInd Bank mandates PAN details to be provided while opening FD accounts. If a depositor does not have his/her PAN details, he/she may declare so in the relevant form available with the bank.

    What are the main features of IndusInd Bank fixed deposit schemes?

    Good and safe returns, easy liquidity, loans against FDs and premature withdrawal facilities are few features of IndusInd fixed deposits.

    Are loans provided against FDs at IndusInd Bank?

    Yes, IndusInd Bank provides loans against Fixed Deposits. Further details are available at your nearest IndusInd bank branch.

    Does IndusInd Bank offer senior citizens special rates on their fixed deposits?

    Yes, an additional interest rate of 0.50% over and above the card rates is applicable for Term Deposits of Senior citizens (above 60 years) for deposit values below ₹ 5 cr. (Not applicable for NRO deposits). However, in case the senior citizen opts to place deposits under the interest rates applicable for High Value Deposits (>5Crs), this benefit is not available.

    Does IndusInd Bank issue credit cards against fixed deposits?

    Yes, IndusInd Bank offers credit cards against fixed deposits. The minimum amount required for such a fixed deposit is ₹ 1,00,000. The cards are offered in both Visa/MasterCard options and have a limit of up to 90% of the FD amount.

    Are premature withdrawals allowed by IndusInd Bank?

    Yes, premature withdrawals of fixed deposits are allowed by Corporation Bank. A penalty of 1% per annum is levied on all fresh and renewed deposits. For deposits of Rs 1.0 crore and above there is no fixed premature withdrawal penalty and the bank can allow or disallow premature withdrawals of such amounts at its sole discretion.

    What are the NRI fixed deposit accounts offered by IndusInd Bank?

    IndusInd Bank offers special fixed deposit accounts catering to its NRI customers. The fixed deposit accounts lets the customer deposit money in Indian and foreign currency depending on their preference. The bank also offers different interest rates for NRI fixed deposits. Listed below are the types of NRI fixed deposits offered by IndusInd.

    1. NRE accounts(Non Resident External)-Account is denominated in Indian currency
    2. NRO accounts-(Non Resident Ordinary)NRO accounts can either be funded by conventional payment or through traveller’s cheques
    3. FCNR accounts-(Foreign Currency Non Resident)Account can be opened in foreign currency
    4. RFC accounts-(Resident Foreign Currency)Allows the customer to maintain the account in foreign currency even after returning to India permanently

    What is the rate of interest offered for IndusInd NRI fixed deposits?

    Listed below is the rate of interest offered for different NRI accounts offered by IndusInd.

    Type of fixed deposit Rate of interest
    NRE account 9.1%
    NRO account 9.00%
    FCNR account 3.26%

    Does IndusInd allow for premature withdrawals?

    IndusInd allows its customers to make premature withdrawals for a penal rate. The customer would have been informed about the penal rate at the time of opening the fixed deposit account by the bank. Fixed deposits booked through sweep-out facility won’t be charged with the penal code. Premature withdrawals of accounts that has been with the bank for less than 7 days will not earn any interest.

    IndusInd Bank Fixed Deposit Reviews

    • IndusInd Bank Fixed Deposit
      "Satisfied with the services"
      0.5 5.0/5 "Blown Away!"
      I have opened a fixed deposit with Indusind bank. The customer services and response is good and they are offering a good rate of interest. The customer services and response is good. It was easy to open this account and there were no charges taken for the same.
      Was this review helpful? 13
      , bangalore
      Reviewed on Aug 17, 2018
    • IndusInd Bank Fixed Deposit
      "Best banking"
      0.5 5.0/5 "Blown Away!"
      I have opened a Fixed deposit with Indusind bank.The minimum a maintain 50,000 in year.i feel its a best investment for the customers as I get the best interest rate.I have been banking with them for last five years.I am happy banking with them.
      Was this review helpful? 3
      , chennai
      Reviewed on Jan 23, 2018
    • IndusInd Bank Fixed Deposit
      0.5 4.0/5 "Great!"
      I do have the Indusind bank fixed deposit account and within a day of time the account got opened. I would like to say that the response is good one for me with them and their customer service is also fine one with them.
      Was this review helpful? 2
      , noida
      Reviewed on Sep 28, 2017
    • IndusInd Bank Fixed Deposit
      "Fixed depost"
      0.5 5.0/5 "Blown Away!"
      With INDUDIND, I am holding a NRE so based on which they offered a NRE rate. This was opened and closed. This request was placed online no challenges nor any issues. I did not get any tax benefit for this FD. It was opened on the basis of NRE....
      Was this review helpful? 1
      , thane
      Reviewed on Sep 23, 2017
    • IndusInd Bank Fixed Deposit
      "Good interest rate for Fixed Deposit "
      0.5 5.0/5 "Blown Away!"
      I visited the Induslind bank branch to open the Fixed deposit which was given with 9% interest rate for the minimum lock in period of one year. But, they took ten days to activate the plan. The minimum amount to start the plan is Rs.50,000. We can liquid the cash any time after three months for the plan.
      Was this review helpful? 7
      , secunderabad
      Reviewed on May 14, 2016
    • IndusInd Bank Fixed Deposit
      "Nice rate "
      0.5 5.0/5 "Blown Away!"
      Induslind bank is giving 6% above interest rate for the fixed deposit. Minimum lock in period one year maximum up to 15 years. We can start he plan with one lakhs rupees. . I took the plan by visiting the bank directly.
      Was this review helpful? 6
      , nagpur
      Reviewed on Jan 20, 2016
    • IndusInd Bank Fixed Deposit
      "Slow process "
      0.5 2.0/5 "Expected more"
      The service provided was quite average with Indusind Bank based on the fixed deposit.They have provided any information about my account.Its been 15days for getting a deposit.They have opened a saving account but I acutally applied for a fixed deposit with them.
      Was this review helpful? 4
      , delhi
      Reviewed on Jan 13, 2016
    • IndusInd Bank Fixed Deposit
      "Great !!!"
      0.5 5.0/5 "Blown Away!"
      Recently eight months ago I have taken fixed deposit with IndusInd bank and rate of interest is high comparatively. In addition to that for FD holders, the bank is offering loan and other good facilities. At times response is poor thus they have to look on to that. Rate is only simple rate where will get at the end of the term period.
      Was this review helpful? 10
      , bangalore
      Reviewed on Mar 07, 2015
    • IndusInd Bank Fixed Deposit
      0.5 5.0/5 "Blown Away!"
      I am holding a INDUS IND FD and I would say its perfect . Customer service offered by them was really good. They will come to my place at any point of time. They are always ready to help the customers.Interest rate offered by them is really good. I have taken that for 6 years.
      Was this review helpful? 12
      , jaipur
      Reviewed on Jan 17, 2015
    • IndusInd Bank Fixed Deposit
      0.5 4.0/5 "Great!"
      I am holding a fixed deposit with INDUS IND bank. It was very easy to open this deposit. It was opened at the Branch with the help of pan card and election id. Off course, the rate of interest offered by them was competitively less. No charges being charged for opening this account. I can access this account online. I am happy with the returns as well.
      Was this review helpful? 4
      , vadodara
      Reviewed on Dec 28, 2014
    • IndusInd Bank Fixed Deposit
      "Quite impressive rate!!"
      0.5 4.0/5 "Great!"
      With Indusind bank, I did open fixed deposit before 6 months. Interest rate is 11% which is quite impressive. Through my net banking, I would do the deposit. At the time of maturity, I get the principal amount along with quarterly compounding rate
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 13, 2014
    • IndusInd Bank Fixed Deposit
      0.5 5.0/5 "Blown Away!"
      Absolutely IndusInd bank is excellent in service and in all the aspects. IndusInd is the only bank which provides good and high interest rate on Fixed deposit as well they are best in technology. I availed FD for tenure of 13 months and the amount is 5lakhs. Interest rate on FD is around 9.5% and they are giving compound interest which would be accumulated in quarterly basis.
      Was this review helpful? 5
      , gurgaon
      Reviewed on Dec 11, 2014
    • IndusInd Bank Fixed Deposit
      "Fixed Deposit"
      0.5 4.5/5 "Excellent!"
      I have open Fixed deposit in Indusind BankLtd an i have good experience with the bank as i have earned rate of interest of 9.00 percent on my amount and fell blessed after earning that amount with was idle on my account. I suggest everyone to open at least on Fixed deposit.
      Was this review helpful? 11
      , gurgaon
      Reviewed on Nov 28, 2014
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