Indus Privilege Active Savings Account

Documents required for opening an Indus Privilege Active Savings Account:

If you want to apply for the savings account, you must click on the ‘Apply Now’ button on the IndusInd Bank’s website, enter all the required details and submit. Alternatively, you can also visit the bank and submit it physically. The following documents need to be submitted while opening the Privilege Active Savings Account:

1. Duly-filled account opening application form.
2. Rs.25,000 or above as initial deposit. Rs.2,000 or more as initial deposit for add-on accounts.
3. Coloured passport size photograph of the applicant.
4. PAN card or Form 60/61 copy.
5. Address proof as Voter’s ID or DL or Passport or recent utility bill.
6. Identity proof in the form of Passport/Driving License/Voter’s ID/Photo Credit Card or Debit Card.

Balance requirement in Indus Privilege Active Savings Account:

This account is based on transaction and does not require a monthly average balance. Any of the following transactions should be initiated in each month:

1. One POS (Point of sale) transaction every month with minimum Rs.2,500 or above and one mobile banking or net banking.
2. Offline or online bill payment/SIP from the linked account worth of minimum Rs.2,500 or more/EMI.
3. Recurring deposit linked to Indus Privilege Active Savings Account worth of minimum Rs.2,500 or more.

Features and benefits of the Indus Privilege Active Savings Account:

The Privilege Active Savings Account offered by IndusInd Bank comes with the following benefits:

1. My Account My Number – With the Privilege Active Savings Account, you get the option to choose the account number of your choice. You can choose any number that is easy to remember, it could be your date of birth or your mobile number or any random number that you think you will not forget easily.
2. Platinum Plus Debit Card – Account Holders of the Indus Privilege Active Savings Account can avail the Platinum Plus Debit Card that comes with superior features and exciting deals. It offers the convenience of cashless payments for entertainment, shopping, and dining.
3. Zero Balance facility – Account Holders can enjoy zero balance facility, provided any of the transactions listed below are carried out:

Spend transactions

1. One POS and one mobile banking transaction worth Rs.2,500 p.m. (per month)
2. One POS and one net banking transaction worth Rs.2,500 p.m.
3. EMI loan payment of minimum Rs.2,500 p.m.
4. Offline or online bill payment of Rs.2,5000 in a month.

Save transactions

1. SIP (Systematic Investment Plan) of Rs.2,500 p.m.
2. Recurring deposit of Rs.2,500 p.m.
3. Transfer of funds from another account to IndusInd bank through NACH – Rs.10,000 p.m.
4. Anywhere banking – If you have an Indus Privilege Active Savings Account, you can access your account from anywhere in India, through any of IndusInd branches. From cash withdrawals, to deposits, to enquiries, you can carry out any transaction without having to worry about any extra charges at non-base branches.
5. Internet banking – IndusInd bank allows you to enjoy facilities such as mobile banking and internet banking for transactions at any time from the comfort of your home. You can also download e-statements, request for a DD, place an FD, or transfer funds online. You are also entitled to transfer funds through NEFT and RTGS using the account.
6. Doorstep banking – Account Holders of the Privilege Active Savings Account can also opt for doorstep banking offered by IndusInd bank, where facilities such as cash pick-up, cheque pick-up, etc. can be availed.

Other facilities:

1. Monthly e-statements for free
2. PAP(Payable at Par) cheque book
3. Demand drafts up to Rs.25,000 in a day, without any charge at all branches

Fees and Charges:

Given below in the table are the following fees and charges levied on the usage of the Indus Privilege Savings Account:

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.