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Savings Account

IndusInd Bank offers a wide assortment of products in the savings bank account category to cover every segment of customers. The types of saving account offered by IndusInd Bank are:
 

Indus Exclusive Saving Account

A tailor-made savings account from IndusInd Bank designed for people who desire a premium and personalized service.

  • Can be opened either singly or group of family members or clubbed other product offered by IndusInd Bank such as current account, fixed deposit, mutual funds, life insurance product, salary credit in account, home loan or loan against property
  • Free Platinum Exclusive Debit Card for grouped family accounts and loaded with supreme offers and rewards
  • Free ATM Transaction in India and abroad
  • Zero transaction charges to shop anywhere worldwide
  • Zero markup charges on any Forex transaction done using the Exclusive Debit Card
  • For movie tickets purchased on BookMyShow using Exclusive Debit Card,  you can get one movie ticket free on purchase of one ticket
  • Flexi limit on the debit card for both ATM cash withdrawal and use at point of sale
  • Dedicated phone banking number for Indus Exclusive customers only, wherein customer may seek assistance of any query or complaint with the officers
  • Dedicated email id to address all request, complaint or query on priority
  • Holiday banking service for Exclusive customers so that they are not left high and dry even on national holidays
  • Free of cost doorstep banking service for cheque and cash pick up
  • Premium concierge service to assist Indus Exclusive customers planning a trip
  • For customers  who wants to amalgamate Exclusive Saving Account with any other product additional benefit such as 20% discount on loan processing fee and zero maintenance charge of demat account for 2 years is available
  • 2.5% waiver of fuel surcharge for every fuel purchase done using Exclusive Debit Card at any outlet
  • Earn 5 times reward points for all shopping done using the Exclusive Debit Card
  • Frequent industry information to keep the customers updated about their investment planning and other horizon of investments
  • Frequent evaluation of wealth portfolio by experts and notifications are provided on the  basis the review
  • Encryption of cheque images in the physical statement to have information of cheque issued from account

IndusInd Bank Minimum Balance Requirements

Relationship Criteria

Indus Exclusive - Relationship Value Required

Savings Account (Single)

Rs. 1 lakh

Savings Accounts (Household Grouped)

Rs. 2 lakh

Savings + Current Account

Rs. 10 lakh

Savings + Fixed Deposits

Rs. 20 lakh

Mutual Fund/ DP Valuation (with Savings Account)

Rs. 6 lakh

Life Insurance Premium (with Savings Account)

Rs. 1 lakh

Salary Credit in account

Rs. 1.25 lakh

Upfront margin

Rs. 2 lakh

Home Loan/ Loan against property

Rs. 50 lakh

Indus Select Savings Account

A privilege savings account with a cluster of value added services apart from day to day financial requirement for preferred customers.

This savings account with IndusInd Bank offers the following features:

  • Free Platinum Exclusive Debit Card for grouped family accounts and loaded with supreme offers and rewards
  • Free ATM Transactions  in India and abroad
  • Zero transaction charges to shop anywhere worldwide
  • Nil markup charges on any forex transaction done using Exclusive Debit Card
  • For movie tickets purchased on BookMyShow using Exclusive Debit Card, get one movie ticket free on purchase of one ticket
  • Flexi limit on debit card for both ATM cash withdrawal and usage at the point of sale
  • Dedicated phone banking number for Indus Exclusive customers only, wherein customer may seek assistance of any query or complaint with the officers
  • Dedicated email id to address all request, complaint or query on priority
  • 10% discount on lockers
  • 10% discount on loan processing fee
  • 1 year maintenance charges on a demat account waived off
  • Holiday banking service for Exclusive customers so that they are not left high and dry even on national holidays
  • Free of cost doorstep banking service for cheque and cash pick up
  • Premium concierge service to assist Indus Exclusive customers plans their trip anywhere as per their wish and priority
  • For such customer who wants to amalgamate Exclusive Saving Account with any other product additional benefit such as 20% discount on loan processing fee and zero maintenance charge of demat account for 2 years is available.
  • 2.5% waiver of fuel surcharge for every fuel purchase done using Exclusive Debit Card at any outlet
  • Earn 5 times reward points for all shopping done using the Exclusive Debit Card
  • Frequent industry information to keep the customers updated about their investment planning and other horizon of investments
  • Frequent evaluation of wealth portfolio by experts and notifications provided basis the review
  • Encryption of cheque images in the physical statement to have information of cheque issued from account

Minimum balance requirements for IndusInd Bank savings account

Relationship Criteria

Indus Select - Relationship Value Required

Indus Exclusive - Relationship Value Required

Savings Account (Single)

Rs. 50,000

Rs. 1 lakh

Savings Accounts (Household Grouped)

Rs. 1 lakh

Rs. 2 lakh

Savings + Current Account

Rs. 7 lakh

Rs. 10 lakh

Savings + Fixed Deposits

Rs. 10 lakh

Rs. 20 lakh

Mutual Fund / DP Valuation (with Savings Account)

Rs. 3 lakh

Rs. 6 lakh

Life Insurance Premium (with Savings Account)

Rs. 50,000

Rs. 1 lakh

Salary Credit in Account

Rs. 75,000

Rs. 1.25 lakh

Upfront Margin for Trading Account

Rs. 1 lakh

Rs. 2 lakh

Home Loan / Loan against property

Rs. 25 lakh

Rs. 50 lakh

Indus Maxima Savings Account

  • 2 add-on accounts at no extra cost. This allows the customer to group their family member and enjoy the unmatched privileged services.
  • Free Platinum VISA Debit Card for main and add-on accounts
  • Free transaction on all ATM across Indian and one international ATM withdrawal free per month
  • Free monthly physical and email statement
  • 1 correspondent bank draft up to Rs. 50,000 free per day
  • Infinite payable at par cheque book
  • State-of-the-art net banking and mobile services with no extra cost
  • Banking services available all year round with holiday banking services
  • Core banking solution for hassle-free banking in all IndusInd Bank branches across India
  • Doorstep banking services to save valuable time and effort of customer for cash/ cheque pickup and cash/ demand draft delivery

IndusInd Bank savings account eligibility criteria

  1. Resident individuals – single or jointly
  2. Minor with parents or guardian
  3. Hindu Undivided Families
  4. Trusts(charitable and non charitable), associations and societies
  5. Foreign national living in India for over 6 months can open a savings account by providing valid proofs of their identity and address.

Average Quarterly Balance

Customers may maintain the required average quarterly balance either in a single account or even in the sum of all grouped accounts. The minimum average quarterly balance required is Rs. 25,000.

Privilege Savings Account

As the name implies, this account offers an astounding service backed with benefits of both saving and earning.

  • Free Indus Young Saver Account with recurring deposit facility for the child
  • Multiple variants of debit card to choose depending on the requirement of customer
  • Free transaction on all ATM across India and one international ATM withdrawal free per month
  • Free demand drafts up to Rs. 25,000 per day at all the branches
  • Free monthly physical and email statement
  • State-of-the-art net banking and mobile services with no extra cost
  • Banking services available all year round with holiday banking services
  • Core banking solution for hassle-free banking in all IndusInd Bank branches across India
  • Doorstep banking services to save valuable time and effort of customer for cash/ cheque pickup and cash/ demand draft delivery
  • Unmatched benefits while using the debit card such cashless shopping with VISA Debit Card or mobile top-ups at ATMs

Eligibility

  1. Resident individuals – single or jointly
  2. Minor with parents or guardian
  3. Hindu Undivided Families
  4. Trusts, associations, societies Foreign national residing in India for more than 6 months, are allowed to open a savings account if they provide a valid proof of their identity or visa document.

Monthly Average Balance (MAB) Requirement

  • Rs. 10,000 in A category branches
  • Rs. 10,000 in B category branches
  • Rs. 5,000 in C category branches

Indus Privilege Active

  • One of its kind service to choose the account number of own choice
  • No minimum average balance requirement for customer carrying out regular transaction in the account
  • Transact from anywhere in India
  • A variety of debit cards offered. Customer may opt for regular debit card or Platinum Plus Debit Card which is specially designed for customer having the appetite towards cashless shopping
  • Charges for Platinum Plus Debit Card are Rs. 1,000 for the first year and Rs. 799 per annum for subsequent years
  • Optional doorstep banking facility for cash pick up/ delivery and/ or cheque pick up from home
  • Payable at Par (PAP) cheque book
  • Free demand drafts (up to Rs. 25,000 per day) at all our branches
  • Free online funds transfer through NEFT or RTGS
  • Free monthly e-statements on the registered email id

Eligibility

  • Resident individuals with either single or joint mode of operation (joint savings accounts)
  • Initial funding required in this account is Rs. 11,200 or Rs. 25,000 with or without Platinum Plus debit card respectively

Minimum Average Balance

Indus Privilege Active accounts are transaction based accounts and hence the requirement for minimum average balance is waived off in this account. However, customers need to ensure that there is at least one transaction per month from the below list of eligible transactions:

  1. 1 net banking or mobile banking + 1 point of sale (POS) transaction per month with the minimum value of Rs. 2,500 or more
  2. Recurring deposit linked to Privilege Active Savings Account of Rs. 2,500 or more per month
  3. Bill pay (online or offline)/ EMI / SIP from the linked Privilege Active Savings Account of a minimum of Rs. 2,500 or more
  4. Systematic investment plan (SIP) of Rs. 2,500 per month

In case the customer fails to transact any of the above, a non-maintenance charge of Rs. 350 shall be levied. However, in case the customer maintains the balance of Rs. 10,000 or more the non-transaction charge would be waived off.

Indus Diva Savings Account

A savings account designed specifically for today’s women crafted with facilities saluting their individuality and vitality.

The detailed features of this IndusInd Bank women’s savings bank account are as follows:

  • Platinum Plus Debit card to cater the requirement of day to financial requirement and lifestyle need of modern age women
  • 25% discount on the first year standard locker fee
  • Option to add on more 2 family member and form a group account with no extra cost
  • Banking from anywhere in the country/ world
  • Doorstep banking to avoid any wastage of their valuable time
  • Free transaction on all ATM across India and one international ATM withdrawal free per month
  • Free demand drafts at all the branches and 1 correspondent bank demand draft for an amount up to Rs. 50,000 per day.
  • Free monthly physical and email statement
  • State-of-the-art net banking and mobile services with no extra cost
  • Banking services available all year round with holiday banking services
  • Core banking solution for hassle-free banking in all IndusInd Bank branches across India

Eligibility

  1. Resident Indian women (sole or joint account)
  2. In case of joint account, the woman has to be the first applicant
  3. Average quarterly balance of Rs. 25,000 or fixed deposit of Rs. 5 lakhs.
  4. Note – Indus Diva is a Maxima account which allows you to open 2 additional add-on accounts for family members and enjoy grouping benefits. The average balance required can be maintained across 3 accounts together.

Indus Senior Savings Account

An expedient and contented saving account crafted for the senior citizens. The accounts for senior citizen come in 2 variants.

  1. Indus Senior (Privilege)
  2. Indus Senior (Maxima)

Features of Indus Senior (Privilege)Savings Account are:

  • 0.5% higher rate of interest on fixed deposits products
  • RuPay Debit card free of cost for usage across any RuPay enabled ATM centre and merchant outlets pan-India
  • The RuPay debit card gives additional benefit of free personal accident insurance of Rs. 1 lakh
  • While using the card for any medical check-up done at SRL Labs, customer gets the benefit of 25% discount

Features of Indus Senior (Maxima) account are:

  • Free Platinum Debit Card
  • Free add-on accounts for family
  • 0.5% higher rate of interest on fixed deposits products
  • Notable discount of 20% on usage of standard locker facility for the first year
  • Enhanced ATM and merchant spend limit up to Rs. 1 lakh and Rs. 2 lakh respectively. The limits are flexible and the customer may set their desired limit as per their requirement.
  • Free of cost feature to add up to 3 family member in the group and enjoy the benefits while maintaining a consolidated average balance
  • Free personal accident insurance of Rs. 1 lakh and medical insurance up to Rs. 50,000 for fractures
  • While using the card for any medical check-up done at SRL Labs, customer gets the benefit of 25% discount
  • Free transaction on all ATM across India and one international ATM withdrawal free per month
  • Free monthly physical and email statement
  • 1 correspondent bank draft up to Rs. 50,000 free per day
  • Infinite payable at par cheque book
  • State-of-the-art net banking and mobile services with no extra cost
  • Banking services available all year round with holiday banking services
  • Core banking solution for hassle-free banking in all branches pan-India
  • Doorstep banking services to save valuable time and effort of customer for cash/ cheque pickup and cash/ demand draft delivery

Eligibility

  • Resident Indian (sole or joint account) above the age of 60 years
  • In case of joint account, the senior citizen has to be the first applicant

Minimum average Balance

  • For Indus Senior (Privilege), the average monthly balance required is Rs. 10,000 or a fixed deposit of Rs. 2,50,000
  • For Indus Senior (Maxima), the average quarterly balance is Rs. 25,000 or a fixed deposit of Rs. 5 lakh

Indus 3 in 1 Account

IndusInd 3 in 1 account is a tailor-made product for those customers who wish to invest in the stock market. The account brings 3 different banking services under one umbrella in partnership with Kotak Securities.

Apart from the features of a regular saving account, the other add-on features of this savings account with IndusInd Bank are:

  • Hassle-free assimilation of 3 products – saving account, demat and trading account
  • State-of-the-art trading solutions in partnership with Kotak Securities
  • Most competitive pricing in the industry

Indus Young Saver

The features of this savings account with IndusInd Bank are:

  • Personalized Debit Card issued on the child’s name and fun picture embossed on it
  • Personalized cheque book in child’s name to help them in understanding the value of saving
  • Free education insurance cover of Rs. 1 lakh to secure the child’s future
  • The account can be operated by the parents in under guardian account or else even by the minor themselves if they are aged above 12 years
  • Minimum monthly average balance is Rs. 5,000. However, the requirement for monthly average balance can be waived off provided
    • The minor account is linked with Parent’s Privilege account
    • Or a recurring deposit of Rs. 2,500 or more per month

Indus Classic Savings Account

A regular savings account offering best-in-class facilities to customers along with savings.

  • 3 different variants of debit card to select
    1. International Classic VISA Debit Card
    2. International Gold VISA Debit Card
    3. Platinum VISA Debit Card
  • Free funds transfer through NEFT and RTGS
  • Free personalized payable-at-par cheque book
  • Free monthly e-statements
  • Nomination facility available
  • Online bill payment, railway ticket booking, e-shopping
  • Mobile top-ups at ATMs
  • Credit card bill payment (VISA Cards) over ATM and the internet
  • Cashless shopping with VISA Debit Card
  • Free funds transfer facility - RTGS or NEFT to transfer funds anywhere in India

Eligibility

  • Resident individuals (sole or joint account)
  • Minor
  • Hindu Undivided Families
  • Trusts(charitable or non-charitable ones), associations and societies
  • Foreign national residing in India for more than 6 months can open a savings account by providing one of the following documents
    • Valid passport
    • Valid visa
    • Documentary proof of residency in India

Monthly Average Balance (MAB) Requirement

  • A category branches – Rs. 10,000
  • B category branches – Rs. 10,000
  • C category branches – Rs. 2,500
  • Rural/ C1 category branches – Rs. 1,500

Indus Easy Savings Account

As a part of its commitment to maximize financial inclusion of the underprivileged customers and their induction in mainstream banking facilities, IndusInd Bank offers Indus Easy Savings Account as Basic Savings Bank Deposit Account (BSBDA).

The key features of this savings account with IndusInd Bank are:

  • Simplified account opening process
  • Optional Debit card facility available
  • Free access to any IndusInd Bank ATM across India
  • Holiday banking service at selected branches
  • Half-yearly physical statements and monthly e-statement
  • Free nomination facility
  • Once a week direct withdrawal facility available for free
  • 5 free domestic other bank ATM transactions in a month (cash withdrawal, balance enquiry, PIN change or mini statement)
  • Toll-free contact centre for each and every request/ query or assistance

Indus Small Account

Indus Small Account is offered to those customers who have a very restricted requirement for a bank account. The processing has been simplified to induct customers who do not have proper documents.

The features of this account are:

  • Zero balance account with easy account opening process with simplified documentation
  • Direct withdrawal facility – weekly once
  • 365 days banking at select branches
  • Free of cost half-yearly physical statements and monthly statement through email
  • Free nomination facility

Restrictions on Small Accounts

  • The aggregate of all credits in a financial year does not exceed Rs. 1 lakh
  • The aggregate of all withdrawals and transfers in a month does not exceed Rs. 10,000
  • The balance at any point of time does not exceed Rs. 50,000
  • At any point in time, if the above conditions are not met, the account holder will be required to provide additional documents for KYC completion; else, the bank will be entitled to close the account
  • No IndusInd Bank savings account charges on non-maintenance of minimum average quarterly balance
  • Foreign remittance shall not be allowed to be credited into a small account

Defence Salary Accounts

IndusInd Bank offers savings accounts catering to the special needs of Indian defence personnel.

Type of savings accounts:

  • Indus Force Maxima Salary Account
  • Indus Force Salary Account

Indus Force Maxima

A premium salary account for senior Indian army and navy personnel offering a bouquet of hand-picked value added services.

Features and benefits of this savings bank account are:

  • Personalized welcome kit
  • Platinum Debit Card
  • Unlimited free ATM withdrawals at any ATM in India plus one monthly free overseas ATM withdrawal
  • ATM withdrawal limit of Rs. 2 lakh per day
  • Receive up to 5 reward points for every Rs. 100 spent using the Platinum Debit Card
  • Higher point-of-sale purchase limit of Rs. 3 lakh per day
  • Free add-on card for spouse or joint-account holder
  • Discount on the green fee at 300 golf courses around the world
  • 2.5% waiver of fuel surcharge at all petrol pumps in India
  • Toll-free phone banking service
  • International emergency and concierge service
  • Defence banking advisors serve as one-point contact for all financial needs
  • Free collection of outstation cheques
  • Instant credit of outstation cheques up to Rs. 20,000
  • Overdraft facility against salary (up to 2 months salary)
  • Loan concession of 25 basis points
  • Waiver of 50% processing fee on loan against property
  • Free demand draft up to Rs. 25,000 per day at all IndusInd Bank branches
  • Lifetime account number with continuation of all facilities
  • Unlimited cheque books at zero cost
  • Preferential allotment of lockers at a concessional charge
  • Free internet banking, RTGS and NEFT, online utility bill payment facilities

Indus Force

A salary account created for Indian army personnel with a range of value-added services.

Features of this IndusInd Bank saving account are:

  • Free international Gold Debit Card
  • Free of cost add-on card for spouse or joint-account holder
  • Free withdrawals at all ATMs
  • Increased point-of-sale limit of Rs. 1 lakh
  • Overdraft facility against salary (up to 2 months salary)
  • Loan available at discount of 25 basis points
  • Free personalized cheque book (up to 50 cheque leaves per month)
  • Free demand drafts up to Rs. 25,000 per day
  • Instant credit of outstation cheques up to Rs. 20,000
  • Free demand drafts drawn on SBI (Nepal Branch) for Gorkha soldiers
  • Remittances under Nepal Express Remittance Scheme (NERS) and Indo-Nepal Remittance Scheme (INRS)
  • Free internet banking, RTGS and NEFT, online utility bill payment facilities
  • Collection of outstation cheques at no extra cost
  • Daily cash withdrawal limit of up to Rs. 50,000 plus unlimited transactions
  • Preferential allotment of lockers at discounted rates
  • Waiver of 50% processing fee on loan against property
  • Zero lost card liability protects Indian army personnel against loss of debit card up to Rs. 1 lakh

Corporate Salary Accounts

Business organizations can open salary accounts so that their employees can park their savings with IndusInd Bank.

Types of IndusInd Bank savings accounts available to corporates:

  • Indus Comfort Exclusive
  • Indus Comfort Select
  • Indus Comfort Maxima
  • Indus Comfort Premium
  • Indus Comfort Regular

IndusInd Bank Saving Account Interest Rates

Daily Balance

Savings Rate of Interest

Daily balance up to Rs. 1 lakh

4%

Daily balance above Rs. 1 lakh and up to Rs. 10 lakh

5%

Daily balance above Rs. 10 lakh

6%

Documentation

  • An account opening form duly filled
  • One passport size colour photograph
  • Initial deposit amount of Rs. 20,000 or more for Indus Senior (Privilege) and Rs. 25,000 or more for Indus Senior (Maxima). For add-on accounts, an initial deposit of Rs. 2,000 or more.
  • PAN card or Form 60/61 where PAN card  is not available
  • Any one document from each of the following groups:
    • Identity proof as passport or driving licence or voter ID or Aadhaar Card
    • Address proof as passport or driving licence or voter ID or Aadhaar Card

Other Value Added Services from IndusInd Bank

  • APPLY ONLINE – allows instant application to IndusInd Bank savings account online (all products)
  • QUICK SERVICE – a comprehensive online tool for instant access for a variant of services
  • QUICK PAY – allows customer to pay online such as bill payment, e-tax and many other payment related services

How to Contact IndusInd Bank

IndusInd Bank offers its customer the following ways to contact the bank:

  • Call  their toll-free number
  • Request a call back by clicking the option “Let us call you” on the website of the bank
  • Visiting the nearest branch. The customer can locate the nearest branch by using the online branch locator available on the website of the bank.
  • Connect to them online using the Paisabazaar portal. You can also visit the website and apply ofr a new Indusind savings account via it.
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