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IndusInd Bank Recurring Deposit interest rate ranges from 7.00% to 7.75% p.a. for senior citizen depositors and from 7.50% to 8.25% p.a. for other depositors. The minimum amount required to open an IndusInd Bank RD is Rs 500. The tenure for IndusInd Bank Recurring Deposit ranges from 1-10 years.
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IndusInd Bank RD Interest Rates 2023
Although IndusInd Bank publishes a separate rate card for its RD interest rates, the IndusInd Bank RD interest rates for the undermentioned RD tenures will be corresponding to the IndusInd Bank Fixed Deposit Interest Rates.
Recurring Deposits Rates w.e.f. 22 March 2023
| Tenure | Interest Rates (% p.a.) | |
| General Rates | Senior Citizen Rates | |
| 12 Months | 7.50 | 8.00 |
| 15 Months | 7.50 | 8.00 |
| 18 Months | 7.75 | 8.25 |
| 21 Months | 7.75 | 8.25 |
| 24 Months | 7.75 | 8.25 |
| 27 Months | 7.75 | 8.25 |
| 30 Months | 7.75 | 8.25 |
| 33 Months | 7.75 | 8.25 |
| 36 Months | 7.75 | 8.25 |
| 39 Months | 7.75 | 8.25 |
| Above 39 months to below 61 month | 7.25 | 7.75 |
| 61 month and above | 7.00 | 7.50 |
Note: The interest rates are as of 2nd May 2023
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Features of IndusInd Bank Recurring Deposit
- Minimum investment: 500 and thereafter in the multiples of Rs 100
- Deposit tenure: 1 to 10 years
- Interest rate: As applicable for term deposits including the interest benefits applicable for senior citizen depositors.
- Eligibility: Individuals
- TDS on interest: As per the current income tax regulations
- Nomination facility: Available
- Premature closure: Allowed
How to Open an IndusInd Bank Recurring Deposit?
Individuals can book an IndusInd Bank Recurring Deposit online via bank’s official website or in person by visiting their nearest IndusInd Bank branch.
Documents Required for Booking an IndusInd Bank Recurring Deposit
- A duly filled and signed deposit account form
- Passport-size photographs
- Proof of Identity such as Passport, Aadhaar Card, Driving License, Government ID, Senior Citizen ID or PAN Card
- Proof of Residence such as Passport, Telephone Bill, Electricity Bill, Bank Statement with a Cheque.
- Introduction by an existing IndusInd Bank customer