IndusInd Bank FD Interest Rate
Fixed deposit is a traditional investment option where banks and other financial institutions provide a fixed rate of return until the maturity date.
Indusind bank provides flexible investment tenures which make it easier for customers to meet their short-term and long-term goals. Any customer can open an FD online from anywhere and enjoy competitive interest rates for long and short-term deposits.
Interest Rates Chart 2023
|Tenure||For General Citizens (p.a.)||For Senior Citizens (p.a)|
|7 days to 14 days||3.5%||4%|
|15 days to 30 days||3.5%||4%|
|31 days to 45 days||4%||4.5%|
|46 days to 60 days||4.5%||5%|
|61 days to 90 days||4.6%||5.1%|
|91 days to 120 days||4.75%||5.25%|
|121 days to 180 days||5%||5.5%|
|181 days to 210 days||5.85%||6.35%|
|211 days to 269 days||6.1%||6.6%|
|270 days to 354 days||6.35%||6.85%|
|Note: All interest rates are updated as of 30th Nov 2023|
returns on FD
Lock in returns as high as
8.61% before they go down
Calculate FD returns
All you need to know about IndusInd Bank FD Interest RateTypes of IndusInd Bank Fixed DepositsBenefits of Investing in IndusInd Bank Fixed Deposits IndusInd Bank FD Eligibility Criteria Fixed deposits can be opened byDocuments Required for IndusInd Bank FD AccountHow to Open an FD with IndusInd Bank?Tax Implications on IndusInd Fixed Deposit
Related Interest Pages
Types of IndusInd Bank Fixed Deposits
1. IndusInd Regular FD
IndusInd Bank offers an attractive interest rate for regular citizens and senior citizens. If you are an existing IndusInd Bank customer, you can book a fixed deposit from a minimum of ₹ 10,000 to maximum ₹ 10 Lakhs.
The new customers can book fixed deposits for amounts ranging from 10,000 to ₹ 90,000 only. The minimum tenure for booking a fixed deposit is 6 months and the maximum tenure is 10 years. The interest accrued on the online fixed deposit will be directly credited to the linked IndusInd Savings Account of existing customers. However, if you don’t have a savings account with IndusInd Bank, the amount accrued, post maturity will be transferred to you via a Demand Draft in your name.
2. Senior Citizen Fixed Deposit (For Saving Account)
Indusind Bank’s senior citizen scheme offers higher interest rates on those above 60 years. It is specially launched for senior citizens. In the case of joint deposits, the first name should be that of a senior citizen.
Any customer can open a fixed deposit with a minimum amount of ₹15,000 for a flexible tenure ranging from 7 days to 120 months. The scheme comes with a nomination facility and a depositor can prematurely close the account. The FD rates are between 3.50% p.a. to 8.25% p.a.
3. IndusInd Bank Sweep In/Out scheme
This scheme allows the transfer of funds from an FD account to a linked Savings/Current Account and vice versa. If the balance on the Savings/ Current account is inadequate, funds are credited to the account from the Term Deposit account. The tenure period is from 30 days to 2 years. The scheme has facilities of nomination and automatic renewal. One can choose to prematurely close the account before the due date as well.
4. Tax Saver Fixed Deposit
The IndusInd Tax Saving Fixed Deposit Scheme offers deposits the opportunity to earn an attractive rate of interest on lump-sum amounts up to ₹ 1.5 lakh while also availing tax deductions of up to Rs.1.5 lakh (including other exemptions in this category as per the Income-tax Act, 1961). The bank offers an interest rate of 7.25% to general citizens. Whereas senior citizens can avail 0.50% additional interest on their fixed deposit as they get an interest rate of 7.75%. There is a 5-year lock-in period for this due to the tax benefits.
Benefits of Investing in IndusInd Bank Fixed Deposits
- IndusInd Bank rate of interest on fixed deposit is highest when compared with other top private banks in India
- IndusInd Bank provides hassle free instant FD booking experience
- IndusInd Bank also offers many other banking products online (Savings Account, Credit Card, Personal Loan) to give you a seamless banking experience
- Now any customer can open an FD in IndusInd Bank online. They need to share Aadhar and PAN, complete video KYC instantly, and book FD of any amount
- Choose from monthly, quarterly, half-yearly, yearly, or at maturity interest payment option
- Deposits of IndusInd Bank that are payable in India are protected by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to a maximum of ₹ 5,00,000 for each depositor.
- At times the inflation rate may be even higher than the interest rate of the FD.
- FDs have the same interest for their complete tenure. Hence the gains are fixed and would not increase.
- Interest income is fully taxable and included under the head “Income From Other Sources”.
IndusInd Bank FD Eligibility Criteria
A customer can open an online fixed deposit with IndusInd Bank, they need to meet the following criteria:
- Should be a citizen of India
- Should be more than 18 years
- Should have a valid KYC document such as PAN and Aadhar
Fixed deposits can be opened by
- Sole proprietorships
- Partnership firms
- Limited companies
- Guardians on behalf of minors
Documents Required for IndusInd Bank FD Account
The following documents have to be furnished for opening an IndusInd Bank FD–
1. Identity proof - (any one of the below)
- Aadhar Card,
- PAN card,
- Driving license,
- Government ID, senior citizen ID
2. Address proof - (any one of the below)
- Telephone bill,
- Bank statement with cheque,
- Aadhar card,
- Electricity bill
How to Open an FD with IndusInd Bank?
An IndusInd Bank FD account can be opened via different modes such as Mobile App, Internet Banking, and offline.
1) Web Application
Applicable for Non-IndusInd customers as well
• Verify your PAN & Aadhar
• Fill in Personal and FD Details
• Complete Video-KYC
• Fund your FD
2) Indus Mobile
Follow the below-mentioned steps to open an FD account via IndusInd Bank Mobile App-
Step 1: Login through your internet banking ID and choose the deposit option.
Step 2: Click on ‘Create Fixed Deposit’, fill out the form precisely.
Step 3: On successful submission, the amount is transferred from your savings account.
3) Indus Net
Step 1: Select the deposit option on your mobile banking account.
Step 2: Click on ‘Open FD’ and fill your details.
Select the amount you wish to add to your FD from your savings account.
Tax Implications on IndusInd Fixed Deposit
An investment in IndusInd Bank Tax Saving FD provides tax saving benefits up to ₹ 1,50,000 p.a under section 80C of the Income-tax Act, 1961. If the amount of interest on an FD exceeds ₹ 40,000, (50,000 in case of resident senior citizens) the amount will be eligible for a 10% tax deduction. An investor must submit form 15G to the bank, stating that he has no taxable income, in order to avoid paying tax on his FD returns.
To avoid TDS on FD returns, senior citizens must submit form 15H to the bank. An investor can also distribute the FD amount to keep the interest rate under ₹ 40,000. Another option for tax saving is to choose a tenure that does not exceed ₹ 40,000 in interest.
Is the ₹ 5 lakh DICGC insurance cover applicable separately for every bank?
The deposit insurance scheme of RBI covers all IndusInd Bank deposits of up to ₹ 5,00,000 at the customer level. You can contact IndusInd Bank or visit their website to open an FD account online and earn the best-in-class interest rate.
How safe are IndusInd Bank’s Online Fixed Deposits?
With AA+ Crisil and ICRA rating, IndusInd bank is one of the safest banks for opening fixed deposits.
What is the minimum and maximum tenure and amount?
If you are an existing IndusInd Bank customer, you can book a fixed deposit from a minimum of ₹ 10,000 to maximum ₹ 10 Lakhs. The new customers can book fixed deposits for amounts ranging from ₹ 10,000 to ₹ 90,000 only. The minimum tenure for booking a fixed deposit is 6 months and the maximum tenure is 10 years.
How will I receive my interest/maturity?
The interest accrued on the online fixed deposit will be directly credited to the linked IndusInd savings account of existing customers. However, if you don’t have a savings account with IndusInd Bank, the amount accrued, post maturity will be transferred to you via a demand draft in your name.
Disclaimer: The calculator and the results of the same are based on information inputted by you and extracted from third party sources. The information on this page is for illustrative purposes only and does not amount to any investment advice or recommendation. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. The information displayed on this page does not constitute an invitation to invest in any product nor is it a promise of performance. Interest rates are not updated in real time and you are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions.