IndusInd Bank Savings Account – Types, Interest Rates, Eligibility

1. Indus Select Savings Account

Indus Select Savings Account is a premium banking program with a cluster of delightful blend of services, made to deliver hassle-free banking along with unmatched privileges.

Features & Benefits of Indus Select Savings Account

This savings account from IndusInd Bank comes with following features:

• Lifetime free Signature Select Debit Card for grouped family accounts and loaded with supreme offers and rewards
• No transaction charges at ATMs in India and abroad
• Zero transaction charges to shop anywhere worldwide
• Buy one Get one Free movie ticket when you book at BookMyShow using your Select Debit Card (3 free tickets every quarter)
• Dedicated Relationship Manager to guide and assist you through different financial needs on Banking, Investments, Insurance and Loans
• 10% discount on loan processing fee
• First year maintenance charges on a demat account waived off
• Get high spend and withdrawal limits on Select Debit Cards
• 5% waiver of fuel surcharge for every fuel purchase done at any outlet
• Earn 6 times reward points for all shopping done using the Signature Select Debit Card

Eligibility

Indus Select Savings Account comes on the basis of your relationship maintained with IndusInd Bank mentioned below:

1. Indus Exclusive Savings Account

IndusInd Bank provides an Exclusive Savings Account, which is designed with exclusive privileges and offers along with the best personnel to ensure that you witness an all new level of banking experience.

Features & Benefits of IndusInd Exclusive Savings Account

Listed below are the several features and benefits of IndusInd Exclusive Savings Account:-

• Tailor-made savings account designed exclusively for customers who desire a premium and personalized service
• Can be opened individually or jointly or clubbed with other products such as current account, fixed deposit, mutual funds, life insurance, salary account, home loan or loan against property
• Free Platinum Exclusive Debit Card for grouped family accounts, which comes loaded with supreme offers and rewards
• Free ATM transactions in India and abroad
• Zero transaction charges to shop anywhere worldwide
• Get one movie ticket free on purchase of one ticket on BookMyShow using Exclusive Debit Card
• Flexi limit on the debit card for both ATM cash withdrawal and use at point of sale
• Dedicated phone banking number and email id for Indus Exclusive customers only
• Free of cost doorstep banking service for cheque and cash pick up
• For customers who want to take 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
• 5% waiver of fuel surcharge for every fuel purchase done using Exclusive Debit Card at any outlet
• Earn 6 times reward points for all shopping done using the Exclusive Debit Card

Eligibility

Indus Exclusive Savings Account comes on the basis of your relationship maintained with IndusInd Bank mentioned below:

2. Indus Maxima Savings Account

Welcome to the world of premium savings account. Indus Maxima offers you with a host of premium services and exclusive banking solutions that cater to all your financial needs. With the Indus Maxima Savings Account, you also get your very own IndusInd Platinum Debit Card. Revel with the exclusive privileges, discounts and offers to match your lifestyle.

Features & Benefits of Indus Maxima Savings Account

Listed below are the features and benefits of Indus Maxima Savings Account:

• Platinum VISA Debit Card
• For shopping and purchases (online /at merchant establishments): Rs. 2,00,000/- per day (depending on the balance in your account)
• For ATM cash withdrawals: Rs. 1,00,000/- per day (depending on the balance in your account)
• Indus Maxima offers you to open add-on accounts for your family members at no extra cost. You also get grouped account benefit, whereby the average balance can be maintained across the 3 accounts together
• 365 day banking at select branches
• Free internet and mobile banking service
• Free doorstep banking at select locations – Cash/cheque pickup and cash/ demand draft delivery
• Unlimited other bank ATM withdrawals in India and 1 international ATM withdrawal free per month
• 1 correspondent bank draft up to INR 50,000 free per day
• Free funds transfer through NEFT or RTGS
• Free Monthly statements (Physical/ e-statements)
• Average Quarterly Balance Requirement: Rs 20,000 / INR 40,000

Eligibility

1. Resident individuals (sole or joint account)
2. Minors
3. Hindu undivided families
4. Trusts, associations, societies and charitable trusts.
5. Foreign national residing in India for a period greater than 180 days, can open a savings account by providing the following:

• Valid Passport
• Valid Visa
• Document proof of residency in India

Also, the following relationship criteria needs to be taken into consideration when applying for Indus Maxima Savings Account:

3. Indus Privilege Savings Account

Indus Privilege Savings Account comes with exclusive features that help you to provide with more value for your money and provides convenient and hassle-free banking experience.

Features & Benefits of Indus Privilege Savings Account

IndusInd Bank presents a savings bank account that offers features and benefits for you and your family:

• Free Indus Young Saver Account with Recurring Deposits facility for your child
• IndusInd Bank presents a suite of premium to utility Debit Cards (International Classic VISA Debit card, International Gold VISA Debit Card and Platinum VISA Debit Card) that come loaded with features to make banking effortless for you
• Use your debit card to earn reward points even on daily transactions
• Get maximum access to your funds with over 1.2 lakh ATMs and more than 9 Lakh merchant establishments in India. Also, if the Debit Card is international you can also access 1 Million Visa ATMs worldwide and 26 Million Visa merchant outlets
• Access and transact on your account for free from any of our branches across India
• 365 days banking at select branches
• Doorstep banking at select locations – free cheque pickup and demand draft delivery
• Free demand drafts (up to INR.25,000/- per day) at all our branches
• Free Internet banking service
• Free bill payment and online railway ticket booking facility
• Free funds transfer through NEFT and RTGS

Eligibility

The following can open an Indus Privilege Account:

1. Resident individuals (sole or joint account)
2. Minors
3. Trusts, Associations, societies and charitable trusts
4. Foreign national residing in India for a period greater than 180 days, can open a savings account by providing the following:

• Valid passport
• Valid visa
• Documented proof of residency in India

Also, the following relationship criteria needs to be taken into consideration when applying for Indus Privilege Savings Account:

4. Indus Diva Women Savings Account

Indus Diva Savings Account is specially crafted for progressive women of today to offer convenient and rewarding banking experience.

Features & Benefits of Indus Diva Women Savings Account

Listed below are the features and benefits of Indus Diva Savings Account:

• Specially crafted Platinum Plus Debit card
• 35% discount on first year fee of Standard Locker
• Banking from anywhere in the country /world and free doorstep banking – Cash/cheque pickup and cash/ demand draft delivery (select locations)
• Open add on accounts for free for up to 2  family members. You will also get grouped account benefit where the average balance can be maintained through any or all of the account(s)
• Enjoy all the premium benefits on each of the 3 accounts while the balance can be maintained through any or all of the accounts
• Free internet and mobile banking service
• Unlimited Payable at Par (PAP) cheque books
• Unlimited pay orders and own bank demand drafts free
• Free funds transfer through NEFT or RTGS
• Free Monthly statements (Physical/ e-statements)

Eligibility

• Resident Indian Women (sole or joint Account)
• In case of joint account Woman has to be the first applicant

Also, the following relationship criteria needs to be taken into consideration when applying for Indus Diva Women’s Savings Account:

5. Indus 3 in 1 Savings Bank Account

IndusInd 3 in 1 savings account is a tailor-made account for those customers who wish to invest in the stock market. It is a unique 3 in 1 proposition for e-trading in the stock market. The account brings 3 different banking services with their broking partner Kotak Securities.

The 3 in 1 platform provides seamless banking and assimilates your savings, demat and trading accounts into one. Your savings account and trading accounts will be automatically integrated to enable hassle-free trade.

Features & Benefits of Indus 3 in 1 Savings Account

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 – savings account, demat and trading account
• State-of-the-art trading solutions in partnership with Kotak Securities
• Most competitive pricing in the industry

6. Indus Young Saver Savings Account

IndusInd Bank brings you Indus Young Saver Account which fulfills your needs as a parent in providing the best education for your children, saving for their future and ensuring their financial future. It comes with a balanced portfolio of savings and investment solutions for your child.

Features & Benefits of Indus Young Saver Savings Account

Listed below are the features of Indus Young Saver Account:

• Personalized Gold Debit Card issued on the child’s name and fun picture embossed on it
• Personalized cheque book in child’s name to help them understand the value of saving
• Minimum monthly average balance requirement 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 2500 or more per month is made

Eligibility

The Indus Young Saver Account can be opened in the minor’s name, either –

• As an “Under Guardian” account, where the parent shall be operating the account
• By the minor himself/herself, if the minor’s age is 12 years or more

7. Indus Classic Savings Account

Indus Classic Savings Account is a regular savings account offering best-in-class facilities to its customers along with savings.

Features & Benefits of Indus Classic Savings Account

• 3 different variants of debit card to select from – International Classic VISA Debit Card, International Gold VISA Debit Card, Platinum VISA Debit Card
• Free funds transfer facility – RTGS or NEFT to transfer funds anywhere in India
• 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

Eligibility

The following can open an Indus Classic Account:

1. Resident individuals (sole or joint account)
2. Minors
3. Hindu Undivided Families
4. Trusts(charitable or non-charitable ones), associations and societies
5. Foreign nationals 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

Or You should have a Savings + Fixed Deposits  relationship of Rs. 50,000/1 lakh (varies with location)

8. Indus Privilege Max Savings Account

Indus Privilege Max offers you a host of premium services and exclusive banking solutions that help you with all your financial needs.

Features & Benefits of Indus Privilege Max Savings Account

• Free Payable-at-Par (PAP) Cheque Books
• Free funds transfer across NEFT, RTGS and IMPS transactions
• You will get Titanium Plus Debit Card with Indus Privilege Max Savings Account. You can avail the following benefits only at the price of Rs. 249:

– Buy 1 Get 1 Free offer on movie tickets through ‘Book My Show’ once every quarter

– Earn IndusRewards reward points on every shopping transaction. Redeem these points for exciting cash back

– Enjoy fuel surcharge waiver of up to INR 125/- per month on fuel bills

– Enjoy shopping and purchases limit of Rs 1, 00,000/- per day

– or ATM cash withdrawals: INR 50,000/- per day

– Loss Card liability worth Rs 1 Lac and purchase protection up to Rs 50,000

Eligibility

1. Resident individuals (sole or joint account)
2. Minors
3. Trusts, associations, societies and charitable trusts.
4. Foreign national residing in India for a period greater than 180 days, can open a savings account by providing the following:

• Valid Passport
• Valid Visa
• Document proof of residency in India

Also, the following relationship criteria needs to be taken into consideration when applying for Indus Privilege Max Savings Account:

9. IndusInd Bank Indus Senior Citizen Savings Account

IndusInd Bank launched Indus Senior Savings Account to make the banking experience convenient and comfortable for their customers above 60 years of age. IndusInd Bank offers two senior citizen savings accounts – Privilege and Maxima.

Indus Senior Privilege

Indus Senior Savings account comes with higher returns on your deposits (0.5% additional) along with host of services specially crafted for all the senior citizens.

Features & Benefits

• Get a free Rupay Debit Card to use across the country at any RuPay enabled ATM or merchant
• Average Monthly Balance to be maintained under Indus Senior Privilege is of Rs. 5000/Rs 10000* or fixed deposit of Rs 2.5 lakh* (varies with location)
• Higher interest on fixed deposits (0.5% additional)
• Get personal accident insurance of Rs 1 lakhs and avail a 20% discount on medical tests done at SRL Labs
• Free internet and mobile banking service
• Free doorstep banking at select locations – Cash/cheque pickup and cash/ demand draft delivery
• Unlimited Payable at Par (PAP) cheque books
• Unlimited other bank ATM withdrawals in India and 1 international ATM withdrawal free per month
• Unlimited pay orders and own bank demand drafts free.1 correspondent bank draft up to Rs. 50,000 free per day
• Free funds transfer through NEFT or RTGS

10. Indus Senior Maxima

Indus Senior Maxima savings account comes with a host of services and benefits which helps make the banking experience easy for you.

Features & Benefits of Indus Senior Maxima

• Average Monthly Balance to be maintained under Indus Senior Maxima is of Rs. 20000/Rs. 40000* or fixed deposit of Rs 5 lakh* (varies with location)
• Get a Platinum Debit card for free with this account, which comes with a daily limit of Rs 2 lakhs for shopping and purchases and a limit of Rs 1 lakh for ATM cash withdrawals
• Avail free add-on account for family where the average monthly balance can be maintained across all the accounts together
• Higher interest on fixed deposits (0.5% additional)
• Get personal accident insurance of Rs 1 lakhs and a medical insurance up to Rs 50,000 for fractures
• Avail 20% discount on medical tests done at SRL Labs
• Free internet and mobile banking service
• Free doorstep banking at select locations – Cash/cheque pickup and cash/ demand draft delivery
• Unlimited Payable at Par (PAP) cheque books
• Unlimited other bank ATM withdrawals in India and 1 international ATM withdrawal free per month
• Unlimited pay orders and own bank demand drafts free.1 correspondent bank draft up to Rs. 50,000 free per day
• Free funds transfer through NEFT or RTGS

Eligibility

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

11. Indus Easy Savings Account

Indus Easy Savings Account is a Basic Savings Bank Deposit Account (BSBDA) that offers you with maximum benefits and minimum requirements.

Features & Benefits of Indus Easy Savings Account

• Zero Balance Savings Account
• Hassle free account opening process
• Free access to IndusInd Bank ATMs across India for cash withdrawals, cash / cheque deposits, VISA credit card bill payment, balance enquiry, mobile top-up
• 4 Free domestic other bank ATM cash withdrawals in a month
• Free internet banking registration
• Free funds transfer through NEFT or RTGS

Eligibility

The following can open an Indus Easy Account

• Resident individuals above 18 years of age

Indus Small Savings Account

Indus Small Account brings you a host of benefits with very minimum requirements. You can avail all banking facilities and services at zero balance requirement and simplified documentation.

Features & Benefits of Indus Small Savings Account

• Zero Balance Savings Account
• Easy account opening process with simplified documentation
• Free ATM Card
• Free access to IndusInd Bank ATMs across India for cash withdrawals, cash/ cheque deposits, VISA Credit Card bill payment, balance enquiry and mobile top-up
• 5 Free Domestic Other Bank ATM transactions in a month
• Free funds transfer through NEFT or RTGS
• Half yearly statements, monthly statement through email
• Free nomination facility

Eligibility

The following can open an Indus Small Savings Account:

• Resident Individuals above 18 years of age
• Zero  minimum balance requirement

Other IndusInd Bank Savings Accounts

Some other savings accounts offered by IndusInd Bank are given below:

To open an online savings account in IndusInd Bank, applicants can follow the below-mentioned steps:

Step 1: Visit the bank’s website and verify your details via PAN and Aadhaar

Step 2: Fill in the details as requested by the bank

Step 3: The bank will ask you to complete your KYC on a video call

Step 4: Upon completing the KYC, you can start funding your account

Note: Applicants are requested to keep their documents handy in order to speed up the account opening process.

Although, IndusInd Bank offers the service to open a bank account online, though, applicants can still open their bank account with IndusInd bank offline by visiting the bank’s branch. Below-mentioned steps explain how to open a savings account offline with IndusInd Bank.

Step 1: Visit the nearest branch of IndusInd Bank and ask for savings account application form

Step 2: You need to fill out the form and submit it to the bank’s official

Step 3: The bank official will ask for your basic details to open your savings account and will ask you to choose the type of savings account you want to open

Step 4: Submit the application form along with the cash deposit slip that you have made for opening the account or demand draft. Along with that, submit your identity proof, income and residence

Step 5: Upon successful verification, your account will be opened in the bank

IndusInd Bank will provide you with a welcome kit, IndusInd debit card, cheque book and other documents for your future reference.

The documentation for the IndusInd Bank savings account is listed below. You need to carry a photocopy of all the documents (with their originals), latest passport size photographs and are required to be presented at the time of submitting the account opening form.

Proof of Identity

• Aadhaar card/letter issued by unique identification authority of India (UIDAI) containing details of address, name and father’s name (Mandatory)
• PAN card or Form No. 60 / 61 (as applicable) (Mandatory)
• Voter’s identity card
• Passport
• Driving license

Proof of Address

Any one or two of the following as mandated by the bank

• Electricity bill / telephone bill
• Bank account statement
• Letter from any recognised public authority
• Rent agreement indicating the address of the customer accordingly registered with state government or similar registration authority
• Ration card
• Letter issued from employer (satisfaction of the bank)

In case any document alone is adequate enough for both verification of address and identity, no separate documents for the same shall be required.