IndusInd Bank is part of the Hinduja Group and commenced operations in 1994. It offers a four types of Fixed Deposit schemes to fulfil the investment requirements of depositors across tenures. The schemes namely Indus Tax Saver Deposit Scheme, Indus Senior Citizen Deposit Scheme, Indus Deposit Plus Scheme and Indus Sweep In/Out Deposit Scheme to help individuals save a proportionate amount monthly. Here’s a summarised list of IndusInd FD rates:
IndusInd Bank FD Rates 2019
Rate of Interest On Fixed Deposits of less than Rs. 1 crore
|Tenure||Regular Citizens||Senior Citizens|
|7 days to 14 days||3.75%||4.25%|
|15 days to 30 days||4.25%||4.75%|
|31 days to 45 days||5.75%||6.25%|
|46 days to 60 days||6.00%||6.50%|
|61 days to 90 days||6.25%||6.75%|
|91 days to 120 days||6.50%||7.00%|
|121 days to 180 days||6.75%||7.25%|
|181 days to 210 days||7.25%||7.75%|
|211 days to 269 days||7.25%||7.75%|
|270 days to below 1 year||7.50%||8.00%|
|1 year to below 1 year 2 months||8.00%||8.50%|
|1 year 2 months to below 2 years||7.75%||8.25%|
|2 years to below 2 years 6 months||7.50%||8.00%|
|2 years 6 months to below 2 years 9 months||7.50%||8.00%|
|2 years 9 months to below 3 years||7.50%||8.00%|
|3 years to below 61 months||7.50%||8.00%|
|61 months and above||7.25%||7.75%|
|Indus Tax Saver Deposit Scheme||7.50%||8.00%|
Notes: Rates w.e.f. Oct 1, 2018
NRE (Non Resident External) Fixed Deposit Interest Rates
|Tenure||Interest Rate on Fixed Deposits of less than Rs. 1 crore|
|1 year to below 1 year 2 months||7.65%|
|1 year 2 months to below 2 years||7.40%|
|2 years to below 2 years 6 months||7.25%|
|2 years 6 months to below 2 years 9 months||7.25%|
|2 years 9 months to below 3 years||7.25%|
|3 years to below 61 months||7.00%|
|61 months and above||6.75%|
Interest Rates on NRO (Non Resident Ordinary) Fixed Deposits are same as those applicable on domestic term deposits across tenures.
FCNR (Foreign Currency Non-Resident)/ RFC (Resident Foreign Currency) Fixed Deposit Interest Rates
(% per annum)
|1 year to less than 2 years||3.74||1.73||0.01||2.05||2.40||2.03|
|2 years to less than 3 years||3.40||1.52||0.01||0.12||2.48||2.06|
|3 years to less than 4 years||3.15||1.33||0.02||3.10||2.54||2.11|
|4 years to less than 5 years||3.15||1.37||0.15||0.17||2.58||2.35|
|5 years only||3.15||1.43||0.29||3.15||2.61||2.42|
Note- RFC deposits are only available in USD, GBP and Euro. Also, no interest is payable on FCNR deposit withdrawn before 1 year.
Types of IndusInd Bank Fixed Deposit Schemes
1. Indus Tax Saver Deposit Scheme
- Resident Individual
- Hindu Undivided Family
- Sole Proprietorship
- Partnership Firm
- Limited Company
- Guardians on behalf of minors
- The minimum deposit amount stands at Rs. 100 and the maximum at Rs. 1,50,000.
- Deposit tenure is 5 years.
- Interest is paid at a rate of 7% p.a.
- The deposit under the scheme qualifies for tax exemption under section 80C of the Income Tax Act.
2. Indus Senior Citizen Deposit Scheme
- Individuals who have completed 60 years of age (sole or joint account).
In case of a joint account, the first account holder must be a senior citizen.
- Minimum deposit amount is Rs. 10,000.
- The deposit are accepted for a minimum of 7 days and for a maximum of 10 years.
- Interest is paid as per card rates applicable for senior citizens across tenures.
- The scheme does not permit premature closure of the deposit.
3. Indus Deposit Plus Scheme
- Resident Savings Account holders
- Resident Current Account holders and
- Non-Residents with NRE/NRO Account
- The scheme invests the principal deposit amount in a fixed deposit and the interest earned on it is invested in a mutual fund via SIP (Systematic Investment Plan). Minimum monthly interest payout from the fixed deposit must be at least Rs. 1000 to start the Deposit Plus account.
- Interest is paid out monthly at discounted value.
- Overdraft facility against the deposit is allowed.
- The scheme permits premature withdrawal of deposit.
4. Indus Sweep In/Out Deposit Scheme
- Resident Individual
- Hindu Undivided Family
- Private and Public limited companies
- The scheme allows depositors to book a fixed deposit for specific term and liquidate it for the required amount in their savings/current account at zero cost whenever a requirement arises.
- Minimum deposit amount requirement is as per the depositor’s savings/current account.
- Deposit tenure ranges from 30 days to 24 months.
- Interest is paid in accordance with the card rates applicable on fixed deposits across tenures.
- The scheme allows premature closure of deposit.
IndusInd Bank FD Calculator
Investors can check the maturity amount of the scheme by using the IndusInd Bank FD Interest Rate Calculator at Paisabazaar. Also, IndusInd Bank FD Interests rates differ for different tenures. So the investors can also decide a preferred tenure of investment by entering different rates and calculating their total earning. In case of reinvestment schemes, investors can check the interest and the maturity amount by using the compound interest calculator.
You can visit the nearest IndusInd Bank branch and contact the officials for IndusInd Bank FD interest rates of schemes above Rs. 1 crore. You can check the IFSC of the branch at Paisabazaar.